RF Industries Receives $3.5 Million of Follow-on Orders from North American Tier 1 Wireless Carrier Customer

Current Backlog Stands at $31 Million

SAN DIEGO, CA / ACCESSWIRE / September 7, 2022 / RF Industries, Ltd. (NASDAQ:RFIL), a national manufacturer and marketer of interconnect products and systems, today announced it has received $3.5 million of follow-on orders from its newest North American Tier 1 wireless carrier customer at the Company's Cables Unlimited division for its OptiFlex™ hybrid fiber solution.

Robert Dawson, President and CEO of RF Industries, commented, "We are excited to announce these follow-on orders in support of our newest wireless carrier customer and their North American 4G/5G wireless infrastructure build. These orders are further validation of our increasing value in the market, and we look forward to sharing more information when we release our third quarter financial results next week.

"Our OptiFlex™ hybrid fiber solution is engineered, designed, and built by our Cables Unlimited team in Long Island, and continues to gain market share in the North American wireless marketplace. With our increasingly strong product and solutions offer and our unique value proposition in the market, we are well-positioned to benefit as the overall spend on 4G and 5G deployments continues to increase."

The Company expects to start shipping against these orders early in its fiscal year 2023, which begins on November 1, 2022. RF Industries' backlog stands at approximately $31 million as of today.

OptiFlex™ is a composite of multiple cables, including all or a variation of power, coax, ethernet and fiber. This product line is a customizable solution that is engineered and designed to fit the exact needs of RF Industries' customers as they upgrade their wireless tower sites from 3G to 4G and LTE and 5G. For more information on OptiFlex™, click here.

About RF Industries

RF Industries designs and manufactures a broad range of interconnect products across diversified, growing markets, including wireless/wireline telecom, data communications and industrial. The Company's products include high-performance components such as RF connectors and adapters, RF passives including 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. The Company is headquartered in San Diego, California with additional operations in Long Island, New York, Vista, California, Milford, Connecticut, North Kingstown, Rhode Island and Parsippany, New Jersey. Please visit the RF Industries website at www.rfindustries.com.

Forward-Looking Statements

This press release contains forward-looking statements with respect to future events, including opportunities for sales growth, our market share, overall margin improvement, customer validation of our products and revenue growth and the expecting timing of order fulfillment, which are subject to a number of factors that could cause actual results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to: the Company's ability to successfully integrate Microlab and realize anticipated synergies, the duration and continuing impact of the coronavirus pandemic on the U.S. economy and the Company's customers; its ability to continue to deliver newly designed and custom fiber optic and cabling products to principal customers; changes in the telecommunications industry; the Company's reliance on certain distributors and customers for a significant portion of anticipated revenues; the impact of existing and additional future tariffs imposed by U.S and foreign nations; the Company's ability to execute on its new go-to-market strategies and channel models; its ability to expand its OEM relationships; its ability to maintain strong margins and diversify its customer base; and its ability to address the changing needs of the market. Further discussion of these and other potential risk factors may be found in the Company's public filings with the Securities and Exchange Commission (www.sec.gov) including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. All forward-looking statements are based upon information available to the Company on the date they are published, and the Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or new information after the date of this release.

SOURCE: RF Industries, Ltd.