Richardson Electronics Ltd., free of its money-losing manufacturing operation in France, reported that second-quarter earnings nearly doubled to $2.2 million, or 19 cents a share, from $1.1 million, or 10 cents a share, in the year-earlier period.
Revenues for the second quarter, ended Nov. 30, increased nearly 21 percent, to $61.7 million from $51 million in last year’s second quarter.
The La Fox-based distributor of electronic components completed the disposal of its French manufacturing operation earlier in 1995. The company also profited from higher distribution margins in Europe and increased sales in all its divisions.
For the first six months of the fiscal year, Richardson’s earnings more than doubled, to almost $4 million, or 34 cents a share, from $1.9 million, or 17 cents a share, a year earlier. Six-month sales increased 22 percent, to $118.9 million from $97.4 million.
