Richardson Electronics, Ltd. (RELL) saw its loss widen to $2.52 million, or $0.20 a share for the quarter ended Nov. 26, 2016. In the previous year period, the company reported a loss of $2.29 million, or $0.18 a share.

Revenue during the quarter went down marginally by 0.76 percent to $33.83 million from $34.09 million in the previous year period. Gross margin for the quarter expanded 180 basis points over the previous year period to 32.41 percent. Operating margin for the quarter stood at negative 7.11 percent as compared to a negative 7.40 percent for the previous year period.

Operating loss for the quarter was $2.40 million, compared with an operating loss of $2.52 million in the previous year period.

"While we are disappointed with flat net sales in the second quarter of fiscal 2017 as compared to the second quarter of fiscal 2016, we are pleased with the significantly higher gross margin and the substantially lower operating expenses after excluding the $1.3 million in severance expense that was incurred in the second quarter of fiscal year 2017," said Edward J. Richardson, chairman, chief executive officer, and president. "We are beginning to see revenue growth in our Power Management Technologies group and we are making good progress in CT Tube development. We are focused on increasing net sales in all of our businesses and continue to make progress on additional initiatives to permanently take cost out of the organization, improve cash flow, and return the Company to profitability," Mr. Richardson concluded.

The company has spent $1.86 million cash to meet investing activities during the first half as against cash inflow of $9.88 million in the last year period

The company has spent $1.52 million cash to carry out financing activities during the first six months as against cash outgo of $6.46 million in the last year period.

Cash and cash equivalents stood at stood at $54.11 million as at Nov. 26, 2016.