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Segment and Geographic Information | 12 Months Ended
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May 31, 2025
Segment Reporting [Abstract] |
Segment and Geographic Information | 12. SEGMENT AND GEOGRAPHIC INFORMATION The Company reports its financial performance to its CODM based on the four operating and reportable segments defined as follows: Power and Microwave Technologies ("PMT") includes the power grid and microwave tube business and RF, Wireless and Power technologies. PMT provides design-in support, systems integration, prototype design and manufacturing, testing, logistics and aftermarket technical service and repair PMT also offers its customers technical services for both microwave and industrial equipment. Green Energy Solutions ("GES") designs and manufactures products for the energy storage market and power management applications. We provide design-in support, systems integration, prototype design and manufacturing, testing, logistics and aftermarket technical service and repair. Canvys provides customized display solutions serving the corporate enterprise, financial, healthcare, industrial and medical original equipment manufacturers markets. Display solutions include touch screens, protective panels, custom enclosures, All-In-One computers, specialized cabinet finishes and application specific software packages and certification services. Healthcare manufactures, repairs, refurbishes and distributes high value replacement parts and equipment for the healthcare market including hospitals, medical centers, asset management companies, independent service organizations and multi-vendor service providers. Products include diagnostic imaging replacement parts for CT and MRI systems; replacement CT and MRI tubes; CT service training; MRI and RF amplifiers; hydrogen thyratrons, klystrons, magnetrons; flat panel detector upgrades; pre-owned CT systems; and additional replacement solutions currently under development for the diagnostic imaging service market. After the January 2025 sale of certain assets to DirectMed, the Company manufactures and repairs CT tubes and sells them to exclusively to DirectMed under an supply agreement. The CODM for Richardson Electronics, Ltd. is Edward J. Richardson (Chairman, Chief Executive Officer and President). The CODM utilizes segment gross profit compared to both the current forecast and the prior year to analyze and assess financial performance by segment. The CODM’s assessment of each segment’s financial performance is utilized to deliberate and execute decisions to allocate resources to manage the growth and profitability of the individual segments and the entire Company. Inventories, net is the only segment asset metric analyzed and reviewed by the CODM. Operating results by segment are summarized in the following tables (in thousands):
|  | Fiscal Year Ended May 31, 2025 |
|  | PMT |  |  | GES |  |  | Canvys |  |  | Healthcare |  |  | Total |
Sales |  | $ | 137,752 |  |  | $ | 28,719 |  |  | $ | 33,145 |  |  | $ | 9,293 |  |  | $ | 208,909 |
Cost of sales |  |  | 95,197 |  |  |  | 19,689 |  |  |  | 22,256 |  |  |  | 6,967 |  |  |  | 144,109 |
Gross profit |  |  | 42,555 |  |  |  | 9,030 |  |  |  | 10,889 |  |  |  | 2,326 |  |  |  | 64,800 |
Selling, general and administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 62,173 |
Loss on disposal of property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 16 |
Loss on disposal of healthcare assets and other charges |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,074 |
Operating loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,463 | )
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 392 |
Foreign exchange gain |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 496 |
Other, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 44 |
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,531 | )
|  | Fiscal Year Ended June 1, 2024 |
|  | PMT |  |  | GES |  |  | Canvys |  |  | Healthcare |  |  | Total |
Sales |  | $ | 128,697 |  |  | $ | 23,233 |  |  | $ | 32,444 |  |  | $ | 12,086 |  |  | $ | 196,460 |
Cost of sales |  |  | 89,980 |  |  |  | 16,626 |  |  |  | 21,471 |  |  |  | 8,417 |  |  |  | 136,494 |
Gross profit |  |  | 38,717 |  |  |  | 6,607 |  |  |  | 10,973 |  |  |  | 3,669 |  |  |  | 59,966 |
Selling, general and administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 59,548 |
Loss on disposal of property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 70 |
Operating income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 348 |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 284 |
Foreign exchange loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (436 | )
Other, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (39 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 157 |
|  | Fiscal Year Ended May 27, 2023 |
|  | PMT |  |  | GES |  |  | Canvys |  |  | Healthcare |  |  | Total |
Sales |  | $ | 164,299 |  |  | $ | 47,596 |  |  | $ | 39,331 |  |  | $ | 11,432 |  |  | $ | 262,658 |
Cost of sales |  |  | 110,210 |  |  |  | 33,877 |  |  |  | 26,956 |  |  |  | 7,926 |  |  |  | 178,969 |
Gross profit |  |  | 54,089 |  |  |  | 13,719 |  |  |  | 12,375 |  |  |  | 3,506 |  |  |  | 83,689 |
Selling, general and administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 58,713 |
Gain on disposal of property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7 | )
Operating income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 24,983 |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 295 |
Foreign exchange loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (278 | )
Other, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 30 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 25,030 |
The segment assets, which consist of inventories, net are summarized in the following table (in thousands):
|  | PMT |  |  | GES |  |  | Canvys |  |  | Healthcare |  |  | Total Segment Assets |
2025 |  | $ | 72,538 |  |  | $ | 17,367 |  |  | $ | 9,289 |  |  | $ | 3,605 |  |  | $ | 102,799 |
2024 |  |  | 67,068 |  |  |  | 20,857 |  |  |  | 9,457 |  |  |  | 12,767 |  |  |  | 110,149 |
The reconciliations of segment assets to the Consolidated Balance Sheets are summarized in the following table (in thousands):
|  | May 31, 2025 |  |  | June 1, 2024 |
Total segment assets |  | $ | 102,799 |  |  | $ | 110,149 |
Cash and cash equivalents |  |  | 35,901 |  |  |  | 24,263 |
Accounts receivable |  |  | 24,117 |  |  |  | 24,845 |
Other current assets |  |  | 3,070 |  |  |  | 2,397 |
Property, plant and equipment, net |  |  | 18,355 |  |  |  | 20,681 |
Intangible assets, net |  |  | 345 |  |  |  | 1,641 |
Right of use lease assets |  |  | 2,276 |  |  |  | 2,760 |
Other non-current assets |  |  | 228 |  |  |  | 209 |
Non-current deferred income taxes |  |  | 8,744 |  |  |  | 5,500 |
Total assets |  | $ | 195,835 |  |  | $ | 192,445 |
Geographic net sales information is primarily grouped by customer destination into five areas: North America; Asia/Pacific; Europe; Latin America; and Other. Net sales and gross profit by geographic region are summarized in the following table (in thousands):
|  | Fiscal Year Ended |
|  | May 31, 2025 |  |  | June 1, 2024 |  |  | May 27, 2023 |
Net Sales |  |  |  |  |  |  |  |  |
North America (1) |  | $ | 91,096 |  |  | $ | 77,269 |  |  | $ | 112,214 |
Asia/Pacific (2) |  |  | 43,211 |  |  |  | 45,264 |  |  |  | 59,557 |
Europe (3) |  |  | 64,949 |  |  |  | 61,476 |  |  |  | 62,017 |
Latin America (2) |  |  | 8,366 |  |  |  | 10,908 |  |  |  | 28,924 |
Other (4) |  |  | 1,287 |  |  |  | 1,543 |  |  |  | (54 | )
Total |  | $ | 208,909 |  |  | $ | 196,460 |  |  | $ | 262,658 |
Gross Profit |  |  |  |  |  |  |  |  |
North America (1) |  | $ | 36,718 |  |  | $ | 29,306 |  |  | $ | 43,580 |
Asia/Pacific (2) |  |  | 13,890 |  |  |  | 13,682 |  |  |  | 18,775 |
Europe (2) |  |  | 18,572 |  |  |  | 18,516 |  |  |  | 18,760 |
Latin America (2) |  |  | 3,236 |  |  |  | 3,983 |  |  |  | 7,735 |
Other (4) |  |  | (7,616 | ) |  |  | (5,521 | ) |  |  | (5,161 | )
Total |  | $ | 64,800 |  |  | $ | 59,966 |  |  | $ | 83,689 |
(1) Primarily applicable to the United States. No other country generated a material amount. (2) No country generated a material amount. (3) Primarily applicable to Germany and Netherlands. No other country generated a material amount. (4) Includes primarily net sales not allocated to a specific geographical region, unabsorbed value-add cost and other unallocated expenses. Net assets by geographic region are summarized in the following table (in thousands):
|  | Fiscal Year Ended |
|  | May 31, 2025 |  |  | June 1, 2024 |
Net Assets |  |  |  |  |  |
North America (1) |  | $ | 92,312 |  |  | $ | 100,550 |
Asia/Pacific (2) |  |  | 12,483 |  |  |  | 10,895 |
Europe (3) |  |  | 50,167 |  |  |  | 44,521 |
Latin America (2) |  |  | 1,697 |  |  |  | 1,986 |
Total |  | $ | 156,659 |  |  | $ | 157,952 |
(1) Primarily applicable to the United States. No other country generated a material amount. (2) No country generated a material amount. (3) Primarily applicable to Germany and Netherlands. No other country generated a material amount. The Company had long-lived assets of $20.5 million as of May 31, 2025 and $25.1 million as of June 1, 2024. The long-lived assets which include property, plant and equipment-net, intangible assets-net and right of use lease assets, were primarily in the U.S. There were approximately $2.1 million of long-lived assets that belong to our foreign affiliates as of May 31, 2025 and $2.1 million as of June 1, 2024.

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- Definition The entire disclosure for reporting segments including data and tables. 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