RF Industries, Ltd. (NASDAQ: RFIL) announced that it has sold its
RF Neulink division to Raveon Technologies Corporation. Financial terms
of the transaction were not disclosed.
“This sale will allow us to focus on our profitable, core operations. RF
Industries has grown rapidly through a focused strategy of providing
innovative interconnect products and complex cable assemblies to growing
markets, predominantly wireless. RF Neulink, which contributed less than
1% of RF Industries’ total sales for the six months ended April 30,
2013, did not contribute meaningfully to the growth or profitability of
RF Industries. The divestiture of the RF Neulink division is part of our
continuous process to evaluate the performance of our divisions and
better concentrate our energy and resources on the higher growth and
higher margin core components of our business,” commented Howard Hill,
Chief Executive Officer of RF Industries.
About RF Industries
RF Industries is a leading designer and manufacturer of innovative
interconnect products and complex cable assemblies across diversified,
high growth markets including wireless carriers & infrastructure,
medical and industrial. The Company’s products include RF connectors,
coaxial and custom cable assemblies, fiber optic cables, wiring
harnesses, medical wiring as well as mobile public safety communications
systems. The Company’s leading edge connectivity solutions are used
throughout the growing and evolving wireless infrastructure. The Company
has reported 19 consecutive years of profitability and is headquartered
in San Diego, California with operations in Las Vegas, Nevada and
Yaphank, New York. Please visit the RF Industries website at www.rfindustries.com.
Forward-Looking Statements
This press release contains forward-looking statements with respect
to future events which are subject to a number of factors that could
cause actual results to differ materially. Factors that could
cause or contribute to such differences include, but are not limited to:
changes in the telecommunications industry; the operations of the Cables
Unlimited division which was acquired in June 2011; and the Company’s
reliance on certain distributors for a significant portion of
anticipated revenues. Further discussion of these and other
potential risk factors may be found in the Company’s public filings with
the Securities and Exchange Commission (www.sec.gov)
including its Form 10-K. All forward-looking statements are based
upon information available to the Company on the date they are published
and the Company undertakes no obligation to publicly update or revise
any forward-looking statements to reflect events or new information
after the date of this release.
Copyright Business Wire 2013