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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000740664-04-000039.txt : 20040901
<SEC-HEADER>0000740664-04-000039.hdr.sgml : 20040901
<ACCEPTANCE-DATETIME>20040901115749
ACCESSION NUMBER:		0000740664-04-000039
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040831
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20040901
DATE AS OF CHANGE:		20040901

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			R F INDUSTRIES LTD
		CENTRAL INDEX KEY:			0000740664
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC CONNECTORS [3678]
		IRS NUMBER:				880168936
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-13301
		FILM NUMBER:		041010199

	BUSINESS ADDRESS:	
		STREET 1:		7610 MIRAMAR RD
		STREET 2:		BLDG 6000
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92126-2313
		BUSINESS PHONE:		8585496340

	MAIL ADDRESS:	
		STREET 1:		7620 MIRAMAR RD #4100
		STREET 2:		7620 MIRAMAR RD #4100
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92126-4202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CELLTRONICS INC
		DATE OF NAME CHANGE:	19910204
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k3q04.txt
<DESCRIPTION>3RD QUARTER 2004
<TEXT>

RF INDUSTRIES, LTD.                                   For Immediate Release
RF Connectors/Neulink Telemetry/Bioconnect Medical

Investor Contact:                                     Company Contact:
Neil Berkman Associates                               Howard Hill, President
 310) 277 - 5162                                      (858) 549-6340
 info@berkmanassociates.com                           rfi@rfindustries.com


                RF Industries' Third Quarter Net Income Jumps 34%
                      to $0.07 Per Share On 17% Sales Gain

        Nine Months Net Income More Than Doubles On 17% Increase in Sales


           SAN DIEGO, CALIFORNIA, September 1, 2004 . . . RF INDUSTRIES, LTD.,
      (NASDAQ:RFIL) today announced that net income for the third quarter of
      fiscal 2004 ended July 31, 2004 increased 34% to $266,116, or $0.07 per
      diluted share, compared to $198,278, or 0.06 per diluted share, in the
      same quarter last year. Sales increased 17% to $2,727,000 from $2,337,000
      in the same quarter last year.
           For the nine months ended July 31, 2004, net income increased 108% to
      $851,437, or $0.23 per diluted share, compared to $409,590, or $0.11 per
      diluted share, in same period last year. Sales increased 17% to $7,998,000
      compared to $6,830,000 in the same period last year.
           "Continuing strong demand for Wi-Fi related connectors and cable
      products contributed to RFI's 17% sales gains for the quarter and
      year-to-date. Connector sales of nearly $8,000,000 for the nine
      months-to-date benefited from Bioconnect product sales, which increased to
      $371,000 during the same period. The acquisition of Aviel Electronics, in
      the fourth quarter of fiscal 2004, combined with higher Bioconnect,
      coaxial connector and cable product sales, should lead to record revenue
      in the current fiscal year," said Howard Hill, president of RF Industries.
           Hill noted that the Company's recently announced acquisition of Aviel
      Electronics, a privately held Las Vegas, Nevada-based manufacturer and
      marketer of microwave and radio frequency (RF) connectors, is expected to
      enhance RFI's growing line of custom RF coaxial connectors. Aviel's annual
      sales of connector and RF products are approximately $1,000,000.
           "Neulink continues to meet with and demonstrate its NL6000
      narrow-band high-speed wireless modems to customers with industrial data
      collection and national defense applications. Despite lower sales at
      Neulink, we believe this product, designed to meet new FCC regulations in
      the coming year, will contribute to increasing sales at Neulink in fiscal
      2005," he said.
           At July 31, 2004, RFI reported cash and cash equivalents of
      $4,518,012, working capital of $9,470,818, a 22 to 1 current ratio, no
      long-term debt and stockholders' equity of $9,905,238, or $3.31 per share.

      About RF Industries
           RF Industries' Connector division designs and distributes radio
      frequency (RF) coaxial connectors and cable assemblies used for Wi-Fi,
      PCS, radio, test instruments, computer networks and antenna devices.
      Connector's Bioconnect Medical cable operation designs, manufactures and
      distributes specialized electrical cabling and interconnect products to
      the medical monitoring market. The Company's Neulink business designs and
      markets wireless digital data transmission products for industrial
      monitoring, wide area networks, GPS tracking and locations systems.

      The statements contained in this release which are not historical facts
      may be deemed to contain forward-looking statements with respect to
      events, the occurrence of which involve risks and uncertainties,
      including, without limitation, uncertainties detailed in the Company's
      Securities and Exchange Commission filings.

                                (tables attached)
                                                                           #3659

7610 Miramar Road, San Diego, CA 92126-4202 (858) 549-6340 (800) 233-1728
                               FAX (858) 549-6345
           E-mail: rfi@rfindustries.com Internet: www.rfindustries.com
<PAGE>


                               RF INDUSTRIES, LTD.
                         CONDENSED STATEMENTS OF INCOME
                                   (Unaudited)


<TABLE>
<CAPTION>
                                          Three Months Ended         Nine Months Ended
                                               July 31,                   July 31,
                                        -----------------------   ------------------------
                                           2004         2003         2004          2003
                                        ----------   ----------   ----------    ----------
<S>                                     <C>          <C>          <C>          <C>
Net sales ............................   $2,727,386   $2,337,410   $7,998,176   $6,830,310

Cost of sales ........................    1,377,367    1,151,146    3,977,895    3,414,791
                                         ----------   ----------   ----------   ----------
     Gross profit ....................    1,350,019    1,186,264    4,020,281    3,415,519
                                         ----------   ----------   ----------   ----------

Operating expenses:

  Engineering ........................      120,556      178,933      337,590      565,231

  Selling and general ................      794,953      684,425    2,280,667    2,183,275
                                         ----------   ----------   ----------   ----------
     Total operating expense .........      915,509      863,358    2,618,257    2,748,506
                                         ----------   ----------   ----------   ----------

Operating income .....................      434,510      322,906    1,402,024      667,013

Other income -- interest .............        2,606        1,122        9,413       17,227
                                         ----------   ----------   ----------   ----------

Income before provision for income tax      437,116      324,028    1,411,437      684,240

Provision for income tax .............      171,000      125,750      560,000      274,650
                                         ----------   ----------   ----------   ----------

Net income ...........................   $  266,116   $  198,278   $  851,437   $  409,590
                                         ==========   ==========   ==========   ==========

Basic earnings per share .............   $     0.09   $     0.07   $     0.30   $     0.13
                                         ==========   ==========   ==========   ==========
Diluted earnings per share ...........   $     0.07   $     0.06   $     0.23   $     0.11
                                         ==========   ==========   ==========   ==========

Weighted average shares outstanding

  Basic ..............................    2,970,714    2,768,571    2,881,118    3,185,864
                                         ==========   ==========   ==========   ==========
  Diluted ............................    3,779,692    3,326,677    3,655,984    3,580,094
                                         ==========   ==========   ==========   ==========
</TABLE>

<PAGE>



                               RF INDUSTRIES, LTD.
                            CONDENSED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                               July 31,        October 31,
                                                                 2004             2003
                                                             ------------      -----------
                      ASSETS                                 (Unaudited)
                     --------


<S>                                                          <C>              <C>
Current Assets

  Cash and cash equivalents ...............................   $ 4,518,012     $ 2,683,896

  Trade accounts receivable, net ..........................     1,277,385       1,701,618

  Notes receivable ........................................        12,000          12,000

  Inventories .............................................     3,791,983       3,455,018

  Other current assets ....................................       182,736         158,079

  Deferred tax assets .....................................       135,600         135,600
                                                               ----------      ----------
     Total Current Assets .................................     9,917,716       8,146,211



Property, Equipment and tooling, net ......................       363,519         328,124

Notes receivable from related parties .....................        26,730          49,584

Note receivable from stockholder ..........................        70,000          70,000

Other assets ..............................................        14,171          14,171
                                                                 ----------    ----------
     Total Assets .........................................   $10,392,136     $ 8,608,090
                                                                 ==========    ==========




               LIABILITIES AND STOCKHOLDERS' EQUITY
             ---------------------------------------


Current liabilities

  Accounts payable .......................................   $    184,511    $    181,637

  Accrued expenses .......................................        262,387         328,355
                                                                 ----------    ----------
     Total current liabilities ...........................        446,898         509,992

Deferred tax liabilities .................................         40,000          40,000
                                                                 ----------    ----------
     Total Liabilities ...................................        486,898         549,992
                                                                 ----------    ----------

Commitments and Contingencies



Stockholders' Equity
  Common stock, authorized 10,000,000 shares of
    $0.01 par value; 3,002,607 and 2,692,683 shares issued         30,026          26,927

  Additional paid-in capital .............................      3,410,637       2,418,033

  Retained earnings ......................................      6,485,242       5,633,805

  Treasury stock, at cost 6,000 shares ...................        (20,667)        (20,667)
                                                               -----------      ----------
     Total stockholders' equity ..........................      9,905,238       8,058,098
                                                               -----------      ----------
     Total liabilities and stockholders' equity ..........   $ 10,392,136    $  8,608,090
                                                               ===========     ===========
</TABLE>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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