About RF Industries

RF Industries, Ltd. is a national manufacturer and marketer of interconnect products and systems. The company’s high-performance components include RF connectors and adapters, dividers, directional couplers and filters, coaxial cables, data cables, wire harnesses, fiber optic cables, custom cabling, energy-efficient cooling systems and integrated small cell enclosures. Through its manufacturing and production facilities, the company provides a wide selection of interconnect products and solutions primarily to telecommunications carriers and equipment manufacturers, wireless and network infrastructure carriers and manufacturers and to various original equipment manufacturers (OEMs) in several market segments. The company also designs, engineers, manufactures and sells energy-efficient cooling systems and integrated small cell solutions and related components. Segments The company operates through two segments: the RF Connector and Cable Assembly (RF Connector) and the Custom Cabling Manufacturing and Assembly (Custom Cabling). The RF Connector segment primarily designs, manufactures, markets and distributes a broad range of RF connector, adapter, coupler, divider, and cable products, including coaxial passives and cable assemblies that are used in telecommunications and information technology, OEM markets and other end markets. The Custom Cabling segment designs, manufactures, markets and distributes custom copper and fiber cable assemblies, complex hybrid fiber optic and power solution cables, electromechanical wiring harnesses, wiring harnesses for a broad range of applications in a diverse set of end markets, energy-efficient cooling systems for wireless base stations and remote equipment shelters and custom designed, pole-ready 5G small cell integrated enclosures. Recent Events On March 1, 2022, the company purchased 100% of membership interests of Microlab/FXR LLC, a New Jersey limited liability company (Microlab) from Wireless Telecom Group, Inc, a New Jersey corporation (the Seller). Strategy The company’s overall strategy is to provide its customers with a broad selection of products, rapid and high-quality service, and custom design capabilities. The key elements of the company’s strategy are to provide rapid and flexible design and manufacturing services; leverage its manufacturing and distribution capabilities and facilities; integrate marketing and selling efforts; broad range of immediately available products; targeted focus of product lines; increase long-term relationships with customers; and grow through strategic and targeted acquisitions. Operations The company conducts operations through its six divisions with its product areas divided into two segments. RF Connector and Cable Assembly The company’s RF Connector segment consists of the RF Connector and Cable Assembly division (RF Connector division) that is based at its headquarters in San Diego, California with expansion in New Jersey through its acquisition of Microlab. The RF Connector division is primarily engaged in the design, manufacture and distribution of coaxial connector solutions for companies that design, build, operate, maintain and use a variety of connectivity/communication applications. Coaxial connector products consist primarily of connectors which, when attached to a coaxial cable, facilitate the transmission of analog and digital signals in various frequencies. Although most of the connectors are designed to fit standard cable products, the RF Connector division also sells custom connectors specifically designed and manufactured to suit its customers’ requirements. Additionally, during fiscal year 2023 the company integrated the former C Enterprises division into the RF Connector division and San Diego headquarters. The business and assets of C Enterprises, L.P. were acquired on March 15, 2019, bringing to the company the Corning Cable Systems CAH Connections SM Gold Program member as an authorized manufacturer of fiber optic products that are backed by Corning Cable Systems’ extended warranty. This acquisition added the capabilities to design, develop and manufacture connectivity solutions, including custom copper and fiber cable assemblies sold to telecommunications and data communications distributors. The Microlab division is included in the RF Connector segment. Microlab was acquired in 2022, and is based in Parsippany, New Jersey. Microlab designs and manufactures high-performance RF and Microwave products enabling signal distribution and deployment of in-building DAS (distributed antenna systems), wireless base stations and small cell networks. Manufacturing operations are performed at Microlab’s facilities in New Jersey. The RF Connector division typically carries over 1,500 different types of connectors, adapters, tools, and test and measurements kits. This division’s connectors are used in thousands of different devices, products and types of equipment. Since the RF Connector division’s standard connectors can be used in a number of different products and devices, the discontinuation of one product typically does not make the company’s connectors obsolete. Cable assembly products manufactured and sold by the RF Connector division consist of various types of coaxial cables that are attached to connectors (usually the company’s connectors) for use in a variety of communications applications. Cable assemblies manufactured for the RF Connector division are primarily manufactured at its San Diego, California facilities using state-of-the-art automation equipment and are sold through distributors or directly to major OEM accounts. The company’s cable assembly portfolio consists of both standard and custom cable assemblies designed for specific customer requirements. The company offers a line of cable assemblies with over 100,000 cable product combinations. The company designs its connectors at its headquarters in San Diego, California, and Microlab designs and manufactures a wide selection of components and integrated subsystems for signal conditioning and distribution in the wireless infrastructure markets as well as for use in medical devices. However, most of the connectors are manufactured for the company by third-party foreign manufacturers located in Asia. Custom Cabling Manufacturing and Assembly The Custom Cabling segment consists of three wholly owned subsidiaries located in the Northeastern United States. The company’s plan is to integrate certain aspects of the manufacturing, sales and marketing functions of these divisions so as to better address overlapping market opportunities and to more efficiently manufacture, market, and ship products to its customers. The three divisions that comprise the Custom Cabling segment consist of the following: Cables Unlimited, Inc.: Cables Unlimited, Inc. (Cables Unlimited) is a custom cable manufacturer located in Yaphank, New York that the company acquired in 2011. Cables Unlimited is a Corning Cable Systems CAH Connections SM Gold Program member, authorized to manufacture fiber optic products that are backed by Corning Cable Systems’ extended warranty. Cables Unlimited designs, develops and manufactures custom connectivity solutions for the industrial, defense, telecommunications and wireless markets. The products sold by Cables Unlimited include custom and standard copper and fiber optic cable assemblies, adapters and electromechanical wiring harnesses for communications, computer, LAN, automotive fiber optic and medical equipment. Rel-Tech Electronics, Inc.: Rel-Tech Electronics, Inc. (Rel-Tech) was acquired in 2015. Rel-Tech’s offices and manufacturing facilities are located in Milford, Connecticut. Rel-Tech is a designer and manufacturer of cable assemblies and wiring harnesses for blue chip industrial, oilfield, instrumentation, medical and military customers. Wire and cable assembly products include custom wire harnesses, ribbon cable, electromechanical and kitted assemblies, and networking and communications cabling. Schroff Technologies International, Inc.: Schroff Technologies International, Inc. (Schrofftech) was acquired in 2019. Schrofftech is a Rhode Island based manufacturer and marketer of intelligent thermal cooling control systems, along with pole-ready wireless small cell shrouds and enclosures, custom designed for plug-and-play installation. These products are typically used by telecommunications companies across the U.S. and Canada. Product Description The company produces a large variety of interconnect products and assemblies that are used in telecommunications and a range of other industries. The products that the company offers and sells consist of the following: Connector and Cable Products The company designs, manufactures and markets a broad range of coaxial connectors, adapters and cable assemblies for numerous applications in commercial, industrial, automotive, transportation, scientific, aerospace and military markets. There are numerous applications for these connectors, some of which include digital applications, 2.5G, 3G, 4G, 5G, LTE, Wi-Fi and other broadband wireless infrastructure, GPS, mobile radio products, aircraft, video surveillance systems, cable assemblies and test equipment. Users of the company’s connectors include telecommunications companies, circuit board manufacturers, OEMs, consumer electronics manufacturers, audio and video product manufacturers and installers, and satellite companies. The company markets over 1,500 types of connectors, adapters, tools, assembly, test and measurement kits, which range in price from under $1 to over $1,000 per unit. The kits satisfy a variety of applications including but not limited to, lab operations, site requirements and adapter needs. The company also designs and sells a variety of connector tools and hand tools that are assembled into kits used by lab and field technicians, research and development technicians and engineers. These tools are manufactured for the company by outside contractors. Tool products are carried as an accommodation to its customers and have not materially contributed to its revenues. The company markets and manufactures cable assemblies in a variety of sizes and combinations of RF coaxial connectors and coaxial cabling. Cabling is purchased from a variety of major unaffiliated suppliers and is assembled predominately with the company’s connectors as complete cable assemblies. Coaxial cable assemblies have numerous applications including low PIM, Wi-Fi and wireless local area networks, wide area networks, internet systems, cellular systems including 2.5G, 3G, 4G, 5G, LTE, DAS and Small Cell installations, TV/dish network systems, test equipment, military/aerospace (mil-standard and COTS (Commercial Off–The-Shelf)) and entertainment systems. Cable assemblies are manufactured to customer requirements. The company carries thousands of separate types of connectors, most of which are available in standard sizes and configurations and that are also offered by other companies. However, the company also has some proprietary products, including the CompPro product line, OptiFlex cables, and the Schrofftech telecom shelter cooling and control system products. CompPro is a patented compression technology that offers advantages for a water-tight, ruggedized connection, providing easier installation, and improved system reliability on braided cables. CompPro is used by wireless network operators, installers and distributors in North America and other parts of the world. OptiFlex is a hybrid fiber optic and DC power cabling solution that the company designed and manufactured, and the Schrofftech products are energy efficient cooling/temperature control and filtration systems for use in telecom shelters, outdoor enclosures and battery/power rooms. Passive RF Products The company designs and manufactures high-performance RF and microwave high-performance components, such as dividers, directional couplers and filters enabling signal distribution and deployment of in-building DAS (distributed antenna systems), wireless base stations and small cell networks. Fiber Optic Products Cables Unlimited is a Corning Cable Systems CAH Connections SM Gold Program member that is authorized to manufacture fiber optic products that are backed by Corning Cable Systems’ extended warranty. Through its Cables Unlimited division, the company offers a broad range of interconnect products and systems that have the ability to combine radio frequency and fiber optic interconnect components, with various connectors and power cables through customized solutions for these customers. Cables Unlimited also manufactures OptiFlex, a custom designed hybrid fiber optic and DC power cabling solution manufactured for wireless service providers engaged in upgrading their cell towers. The custom hybrid cable is significantly lighter and possesses greater flexibility than cables previously used for wireless service. The former C Enterprises, integrated into the RF Connector division, is a Corning Cable Systems CAH Connections SM Gold Program member, authorized to manufacture fiber optic products that are backed by Corning Cable Systems’ extended warranty. C Enterprises designs, develops and manufactures connectivity solutions to telecommunications and data communications distributors. Other Cabling Products The company designs, manufactures, and sells cable assemblies and wiring harnesses for industrial, oilfield, instrumentation, medical, and military customers. Wire and cable assembly products include custom wire harnesses, ribbon cable, electromechanical and kitted assemblies, networking and communications cabling. DIN and Mini DIN connector assemblies include power cord, coaxial, Mil-spec and testing. Telecommunications Thermal Control Systems and Shrouds The company engineers, designs, manufactures and sells intelligent thermal control systems for outdoor telecommunications equipment. The thermal control systems, which can be controlled offsite using networked software at the telecommunication company’s own data center, maintain the interior temperature of telecommunications and other networking equipment. The company also designs and sells integrated shrouds and enclosures for small cell deployments that reduce installation time and improve aesthetics by eliminating the exterior cabling used with configurations. Distribution and Marketing The company sells its products through independent warehousing distributors and through its in-house marketing and sales team. Sales through independent distributors accounted for approximately 52% of the company’s net sales for the fiscal year ended October 31, 2023. The company directly sells certain of its products to large, national telecommunication equipment and solution providers who include its products in their own product offerings. Manufacturing The products sold by Schrofftech are designed and manufactured at its ISO approved manufacturing facility in North Kingstown, Rhode Island. Schrofftech’s products are manufactured and tested in accordance with the ETL Listing standards. Microlab designs and manufactures a wide selection of RF components and integrated subsystems in the company’s design and manufacturing facility in Parsippany, New Jersey. Raw Materials Cables Unlimited purchases most of its fiber optic cables from Corning Cables Systems LLC. Patents, Trademarks and Licenses The company owns ten U.S. patents related to the CompPro Product Line that it acquired in May 2015. The CompPro Product Line utilizes a patented compression technology that offers revolutionary advantages for a water-tight connection, easier installation, and improved system reliability on braided cables. The CompPro Product Line is used by wireless network operators, installers and distributors in North America and other parts of the world. The company’s Schrofftech subsidiary owns eight issued patents on its proprietary telecom shelter cooling and control system technology and its equipment room ventilation controls. Schrofftech has also filed one pending patent application related to ventilation and control equipment and controls. The trademarks the company owns include the CompPro registered trademark associated with the compression cable product line and the OptiFlex as a trademark for its hybrid cable wireless tower cable solution. Under agreements with Corning Cables Systems LLC, Cables Unlimited and C Enterprises are permitted to advertise that they are Corning Cables System CAH Connections SM Gold Program members. With the acquisition of Microlab, three additional relevant patents were added to the company’s portfolio regarding GPS signal repeaters, RF System Monitoring, and RF Tappers. Additional filings are also pending for RF system conditioning. Government Regulations The company’s products are Restriction on Hazardous Substances (RoHS) compliant. Research and development The company’s research and development expenses relate to its engineering activities, which consist of the design and development of new products for specific customers, as well as the design and engineering of new or redesigned products for the industry in general. During the year ended October 31, 2023, the company recognized $ 3,151,000 in engineering expenses. History The company was founded in 1979. It was incorporated in the state of Nevada in 1979. The company was formerly known as Celltronics, Inc. and changed its name to RF Industries, Ltd. in 1990.