When asked about financial performance, many microwave companies are happily reporting that their numbers are the same as they were in 2008. Despite the tough economy, however, some companies are experiencing growth. For example, Fortune Small Business Magazine just named RF Industries Ltd. as the 80th company on its list of America's 100 Fastest Growing Small Public Companies in its July/August 2009 issue. Fortune's America's 100 Fastest Growing Small Public Companies are ranked by three-year annualized revenue growth and total return to investors. The list is limited to companies with sales under $200 million and a stock price over $1.
According to Howard Hill, RFI's President and CEO, "Fortune recognized our strong sales and consistent profitability. We achieved record sales and operating profits in nearly every quarter of fiscal 2008 and posted record sales of $17.7 million for the fiscal year ended October 31, 2008." He continues, "Our current fiscal year got off to a slow start, as the recession continued to affect telecom upgrades and infrastructure spending. However, we are encouraged that recent orders for specialized connectors and volume orders for cable assemblies indicate an improving business environment for the remainder of our current fiscal year."