理查森电子 2025年季度报告

(Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934For the quarterly period endedMarch 1,2025OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934For the transition period fromToCommission File Number:0-12906 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting companyor an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging Large Accelerated FilerNon-Accelerated FilerEmerging Growth Company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐Yes☒No TABLE OF CONTENTS Part I.Financial Information Richardson Electronics, Ltd.Consolidated Balance Sheets(in thousands, except per share amounts) RICHARDSON ELECTRONICS, LTD.NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS 1. DESCRIPTION OF THE COMPANY Richardson Electronics, Ltd. (the "Company," "we," "our") is a leading global manufacturer of engineered solutions, greenenergy products, power grid and microwave tubes, and related consumables; power conversion and RF and microwave componentsincluding green energy solutions; tubes for diagnostic imaging equipment; and customized display solutions. Approximately50%of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of ourmanufacturing partners throughout the world. All our partners manufacture to our strict specifications and per our supplier code ofconduct. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, Our products include electron tubes and related components, microwave generators, subsystems used in semiconductormanufacturing and visual technology solutions. These products are used to control, switch or amplify electrical power signals, or The Company reports its financial performance for the following business segments: Power and Microwave Technologies("PMT"), Green Energy Solutions ("GES"), Canvys and Healthcare. A description of the Company's business segments is provided On January 24, 2025, the Company sold a substantial portion of the assets of its Healthcare business to DirectMedImaging, LLC (“DirectMed”), a Delaware limited liability company, and entered into an exclusive10-yearglobal supply agreementin which Richardson will supply DirectMed with repaired Siemens CT X-ray tubes. Additionally, the Company will continuemanufacturing ALTA CT X-ray tubes for DirectMed for approximately12to18months. A description of this transaction and other We currently operate within the following major geographic regions: North America, Asia/Pacific, Europe and LatinAmerica. 2. BASIS OF PRESENTATION The accompanying Unaudited Consolidated Financial Statements have been prepared in accordance with United StatesGenerally Accepted Accounting Principles (“GAAP”) for interim financial information and the instructions to Form 10-Q and Our fiscal quarter ends on the Saturday nearest the end of the quarter-ending month. The third quarter of fiscal 2025 andfiscal 2024 both contained 13 weeks. The first nine months of fiscal 2025 contained 39 weeks and the first nine months of fiscal In the opinion of management, all adjustments, which are of a normal and recurring nature, necessary for a fairpresentation of the results of interim periods have been made. All inter-company transactions and balances have been eliminated.The Unaudited Consolidated Financial Statements presented herein include the accounts of our wholly owned subsidiaries. Certaininformation and note disclosures normally included in financial statements prepared in accordance with GAAP have been As described in Note 1,Description of the Company,the Company reports its financial performance based onfouroperating and reportable segments. The financial information contained in this report should be read in conjunction with our 3. RECLASSIFICATIONS Certain prior period amounts have been reclassified to conform to the current period reporting classifications. Thereclassification was related to the unrealized foreign exchange gain (loss) on the Consolidated Statements of Cash Flows. 4. NEW ACCOUNTING PRONOUNCEMENTS - NOT YET ADOPTED In November 2023, Financial Acco