RF Industries Q4 Profit Plunges - Quick Facts

(RTTNews) - RF Industries, Ltd. (RFIL), a manufacturer of interconnect products and complex cable assemblies, Friday reported a sharp decline in fourth-quarter profit, amid decreased sales and higher expenses.

Net income attributable to the company plunged to $251 thousand from $1.16 million last year. Earnings per share fell to $0.03 from $0.15.

During the fourth quarter of fiscal 2013, the company sold its RadioMobile division, resulting in a reported loss from discontinued operations, net of tax, of $0.7 million. In the same period in the prior year, the company reported income from discontinued operations, net of tax, of $0.2 million.

Net sales declined to $8.405 million from $9.276 million in the prior year.

Operating expenses climbed to $2.305 million from $2.141 million.