Summary
RFIL is a highly profitable manufacturer of passive components in communications and industrial infrastructure markets. Its new CEO, Robert Dawson, has organically more than doubled the business in his first full year while maintaining margin discipline and keeping a lid on expenses. RFIL's significant revenue growth has continued while its low fixed-cost base drives considerable operating leverage on incremental revenue.
The US 5G network buildout will be a substantial additional growth tailwind for RFIL, and management has strategically positioned RFIL to exploit the opportunity. Management expects that core organic growth, the near-term 5G network