Richardson Electronics reported a 9.6% increase in full-year revenue to $228 million for fiscal 2026, ending May 31, alongside net income of $6.4 million, reversing a prior-year loss. The company highlighted growth in its power, microwave and green energy segments during a presentation at the 17th Annual Midwest IDEAS Conference on August 26, 2026.
The electronics distributor maintained a debt-free balance sheet with $31.9 million in cash at fiscal year-end, supported by an unused credit facility from PNC Bank. Its current ratio stood at 4.75, reflecting strong liquidity. Richardson’s stock delivered a 73.56% return over the past year and a 57% gain year-to-date.
Revenue growth was driven by its Power and Microwave Technologies unit, which generated approximately $80 million, while the semiconductor wafer fab business contributed $32 million and is expected to exceed $40 million in fiscal 2027. The company also operates a diamond substrate technology unit in collaboration with Great Lakes Crystal Technologies for microwave generator applications.
The green energy segment, launched around fiscal 2022, reported progress in wind, electric vehicle rail and battery storage. Its wind turbine battery replacement solution, which extends battery life from 12–18 months to up to 10 years, has achieved roughly 15% penetration on GE turbines in the U.S. The segment targets additional OEMs including SSB Wind Systems, Alstom, Nordex and Suzlon, with India marking its first new-build turbine approval. In electric locomotives, Richardson supplies superstructures and starter modules to Progress Rail, Wabtec, Caterpillar and GE. Its early-stage battery energy storage initiative focuses on commercial, industrial and data center applications, described as a $35 billion market opportunity that could expand beyond $100 billion.
The Canvys display business, serving medical OEMs such as Medtronic, Philips, Siemens, KARL STORZ and Stryker, reported revenue of about $38 million. The company operates 24 legal entities, employs roughly 430 people across 60 locations globally and manufactures or custom-produces over 55% of its revenue-generating products.
Richardson’s legacy tube business, acquired through 21–22 divisions purchased globally, remains a core contributor with stable demand supported by pricing power in power grid tubes.
