RF Industries Q1 Profit Down

(RTTNews) - RF Industries Ltd. (RFIL) said that income from continuing operations for the first quarter of fiscal 2014 fell to $0.3 million or $0.03 per share from $1.5 million or $0.19 per share in the first quarter of 2013.

Operating income was $0.3 million in the first quarter of fiscal 2014 as compared to operating income of $2.0 million in the prior year's period.

Net sales were $5.9 million, a decrease of 41% compared to net sales of $9.9 million in the first quarter of fiscal 2013. The company saw a significant decrease in revenues from its Cables Unlimited subsidiary, where first quarter sales decreased by 61% to $2.1 million.