RF INDUSTRIES, LTD. AND SUBSIDIARIES
Unaudited Reconciliation of GAAP to Non-GAAP Net Income
(In thousands, except share and per share amounts)
| | Three Months Ended | | | Fiscal Year Ended | |
| | October 31, | | | October 31, | |
| | 2023 | | | 2022 | | | 2023 | | | 2022 | |
Consolidated net (loss) income | | $ | (851 | ) | | $ | 451 | | | $ | (3,078 | ) | | $ | 1,448 | |
Stock-based compensation expense | | | 211 | | | | 191 | | | | 898 | | | | 689 | |
Acquisition-related and other one-time charges | | | 150 | | | | 440 | | | | 851 | | | | 2,017 | |
Severance | | | - | | | | - | | | | 75 | | | | 45 | |
Amortization expense | | | 422 | | | | 432 | | | | 1,701 | | | | 1,282 | |
Non-GAAP net (loss) income | | $ | (68 | ) | | $ | 1,514 | | | $ | 447 | | | $ | 5,481 | |
| | | | | | | | | | | | | | | | |
Non-GAAP earnings per share: | | | | | | | | | | | | | | | | |
Basic | | $ | (0.01 | ) | | $ | 0.15 | | | $ | 0.04 | | | $ | 0.54 | |
Diluted | | $ | (0.01 | ) | | $ | 0.15 | | | $ | 0.04 | | | $ | 0.54 | |
| | | | | | | | | | | | | | | | |
Weighted average shares outstanding | | | | | | | | | | | | | | | | |
Basic | | | 10,330,325 | | | | 10,178,081 | | | | 10,283,449 | | | | 10,120,254 | |
Diluted | | | 10,330,325 | | | | 10,272,287 | | | | 10,283,449 | | | | 10,242,417 | |
| | | | | | | | | | | | | | | | |
RF INDUSTRIES, LTD. AND SUBSIDIARIES
Unaudited Reconciliation of Net Income to Adjusted EBITDA
(In thousands)
| | Three Months Ended | | | Fiscal Year Ended | |
| | October 31, | | | October 31, | |
| | 2023 | | | 2022 | | | 2023 | | | 2022 | |
Consolidated net (loss) income | | $ | (851 | ) | | $ | 451 | | | $ | (3,078 | ) | | $ | 1,448 | |
Stock-based compensation expense | | | 211 | | | | 191 | | | | 898 | | | | 689 | |
Acquisition-related and other one-time charges | | | 150 | | | | 440 | | | | 851 | | | | 2,017 | |
Severance | | | - | | | | - | | | | 75 | | | | 45 | |
Amortization expense | | | 422 | | | | 432 | | | | 1,701 | | | | 1,282 | |
Depreciation expense | | | 216 | | | | 104 | | | | 732 | | | | 408 | |
Other expense | | | 110 | | | | 321 | | | | 453 | | | | 601 | |
(Benefit) provision for income taxes | | | (366 | ) | | | (57 | ) | | | (1,172 | ) | | | 139 | |
Adjusted EBITDA | | $ | (108 | ) | | $ | 1,882 | | | $ | 460 | | | $ | 6,629 | |
| | | | | | | | | | | | | | | | |
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