Richardson Electronics Ltd/DE – ‘10-K’ for 5/31/00

On:  Tuesday, 8/29/00, at 3:08pm ET   ·   For:  5/31/00   ·   Accession #:  355948-0-500002   ·   File #:  0-12906

in

this entire Filing. an “Entity” Search.

Show

Documents searched

and

each “hit”. the 1st “hit”.

↓↑Hints

Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                         22±   116K 
 2: EX-10       Material Contract                                      3±    14K 
 3: EX-10       Material Contract                                     12±    52K 
 4: EX-10       Material Contract                                     12±    52K 
 5: EX-10       Material Contract                                     12±    52K 
 6: EX-10       Material Contract                                     12±    52K 
 7: EX-13       Annual or Quarterly Report to Security Holders        32±   130K 
 8: EX-21       Subsidiaries of the Registrant                         2±     6K 
 9: EX-23       Consent of Experts or Counsel                          1      9K 
10: EX-27       Financial Data Schedule (Pre-XBRL)                     1      6K 

10-K   —   Annual Report
Document Table of Contents

UNITED STATES       
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549    

FORM 10-K     

X  ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE   
ACT OF 1934 (FEE REQUIRED)                                                      
For the fiscal year ended                  May 31, 2000                 

OR                                                                              

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF    THE SECURITIES  
EXCHANGE ACT OF 1934 (NO FEE REQUIRED)                                          
For the transition period from           to                             

Commission File No.  0-12906                                                    

RICHARDSON ELECTRONICS, LTD.
    (Exact name of registrant as specified in its charter)

     Delaware                             36-2096643
(State of incorporation or organization) (I.R.S. Employer Identification No.)   

   40W267 Keslinger Road, P.O. Box 393, LaFox, Illinois 60147-0393
(Address of principal executive offices)  

Registrant's telephone number including area code: (630) 208-2200               

Securities registered pursuant to Section 12(b) of the Act:  None               

Securities registered pursuant to Section 12(g) of the Act:                     
Common Stock, $.05 par value                                      

(Cover page continued)                                                          

(1) 

Portions of the 2000 Annual Report to Stockholders of registrant for fiscal     
year ended May 31, 2000 are incorporated in Parts I, II, and IV of this         
Report. Portions of the registrant's Proxy Statement dated September  5, 2000   
for the Annual Meeting of Stockholders scheduled to be held October 3, 2000,    
which will be filed pursuant to Regulation 14(A), are incorporated by           
reference in Part III of this Report. Except as specifically incorporated       
herein by reference, the above mentioned Annual Report to Stockholders and      
Proxy Statement are not deemed filed as part of this report.                    

The exhibit index is located at pages 17 through 24.                            

(2) 

PART I        

Item 1.     Business                                                            

Introduction and Business Strategy                                              

Richardson Electronics, Ltd. is a specialized global distributor serving the    
RF and wireless communications, industrial power conversion, medical imaging,   
security and display systems markets. The Company provides "engineered          
solutions" to its customers through product manufacturing, systems              
integration, prototype design and assembly, testing and logistics. The          
Company's products include radio frequency ("RF") and microwave components,     
power semiconductors, electron tubes, microwave generators, data display        
monitors and electronic security products and systems. These products are       
used to control, switch or amplify electrical power or signals, or as           
display, recording or alarm devices in a variety of industrial,                 
communication, security and medical imaging applications.                       

The Company's objective is to be the preeminent international supplier of       
niche electronic components to industrial and commercial users. To fulfill      
this objective, the Company employs the following basic strategies:             

Capitalize on Engineering and Manufacturing Expertise. Richardson believes      
that its success is largely attributable to its core engineering and            
manufacturing competency and skill in identifying cost competitive solutions    
for its customers. Historically, the Company's primary business was the         
distribution and manufacture of electron tubes and it continues to be a major   
supplier of these products. Today, the Company out-sources manufacturing        
requirements for products sold in volume, but retains its engineering and       
manufacturing expertise. Richardson uses this expertise to identify             
engineered solutions for customers' applications, not only in electron tube     
technology but also in each product area in which it specializes.               
Approximately 45% of the Company's sales are derived from products the          
Company electronically or physically modifies or sells under its own brand      
names.                                                                          

Specialize in Selected Niche Markets. The Company specializes in selected       
niche markets that demand technical service and where price is not the          
primary competitive factor. Richardson seldom competes against commodity        
distributors. In many parts of its business, the Company's principal            
competitors are not other distributors but rather original equipment            
manufacturers ("OEMs"). The Company offers engineered solutions to its          
customers including the design, prototype manufacturing and/or electrical or    
mechanical modification and distribution of approximately 80,000 products       
ranging in price from $1 to $100,000 each. The Company estimates that over      
60% of its sales are attributable to products intended for replacement and      
repair applications, in contrast to use as components in new original           
equipment.                                                                      

Leverage Customer Base. The Company strives to grow by offering new products    
to its existing customer base. The Company has followed the migration of its    
customers from electron tubes to newer technologies, primarily                  
semiconductors. Sales of products other than electron tubes represented 76.4%   
of sales in the year ended May 31, 2000, compared to 50.0% five years ago.      

(3) 

Maintain Superior Customer Service. The Company maintains more than 300,000     
part numbers in its inventory database. More than 80% of all orders received    
by 6:00 p.m. are shipped complete the same day.                                 

Provide Global Service. Richardson has kept pace with the globalization of      
the electronics industry and addresses the growing demands in lesser            
developed countries for modern business and industrial equipment, related       
parts, service and technical assistance. Today, the Company's operations are    
worldwide in scope through 70 sales offices, including 41 located outside of    
the United States. In fiscal 2000, 47.8% of sales were to customers based       
outside of the United States.                                                   

Maintain State-of-the-Art Information Systems. Through a global information     
systems network, all offices have real-time access to the Company's database    
including customer information, product cross-referencing, market analysis,     
stock availability and quotation activity. Customers have on-line access to     
product information and purchasing capability via Richardson's web site. The    
Company offers electronic data interchange to those customers requiring this    
service.                                                                        

Growth Strategy                                                                 

Richardson's long range plan for growth and profit maximization is defined in   
three broad categories, discussed in the following paragraphs:                  

Internal Growth. The Company believes that, in most circumstances, internal     
growth provides the best means of expanding its business. Both geographic and   
product line expansion have and will continue to be employed. In many           
instances, Richardson's original product line, electron tubes, provides the     
foundation for establishing new customer relationships, particularly in         
developing countries where older technologies are still predominately           
employed. From that base, the Company can identify and capitalize on new        
market opportunities for its other products. Over the last five years the       
Company has tripled the number of sales offices to 70 to support its new        
business development efforts.                                                   

Expansion of the Company's product offerings is an on-going program. Of         
particular note, the following areas have recently generated significant        
sales gains: amplifiers, transmitters and pallets for wireless communication:   
microwave generators; medical imaging components; flat panel displays and       
monitors; and CCTV security systems.                                            

Continuous Operational Improvement. During the last five years, the Company     
embarked on a vigorous program to improve operating efficiencies and asset      
utilization. Incentive programs were revised to heighten Richardson managers'   
commitment to these goals. As a result, selling, general and administrative     
expenses as a percent of sales were reduced from 23.4% in fiscal 1995 to        
20.0% in 2000. Inventory turns improved from 1.7 to 2.9 over the same period.   
Additional programs are ongoing, including a significant investment in a full   
suite of enterprise resource planning modules scheduled for installation over   
the next two years. The Company believes European logistics and stocking        
levels may offer additional opportunities for cost savings.                     

Acquisitions. The Company has a successful record of acquiring and              
integrating businesses. Since 1980, the Company has acquired 31 companies or    
significant product lines. The Company evaluates acquisition opportunities on   
an ongoing                                                                      

(4) 

basis. The Company's acquisition criteria require that a target provide       
either (i) product line growth opportunities permitting Richardson to           
leverage its existing customer base or (ii) additional geographic coverage of   
Richardson's existing product offerings. In the last five years, the            
Company's acquisition pace has accelerated with the purchases of 14             
businesses including, most significantly, Tubemaster (medical imaging -         
Medical), Compucon (interconnect devices for RF applications - Wireless), TRL   
Engineering (amplifier pallet design and engineering - Wireless), Pixelink      
and Eternal Graphics (dispay systems integration - Display) and Burtek,         
Security Service International and Adler Video (security systems - Security).   

Strategic Business Units                                                        

The marketing, sales, product management and purchasing functions of            
Richardson are organized in individual strategic business units with specific   
financial targets. Over the past several years, the Company has been            
transitioning the organization to a market-focused strategy from a product-     
driven approach. By the end of fiscal 2000, this transition was complete and    
the strategic business units were renamed to be consistent with the market      
served: RF & Wireless Communication Group ("Wireless"), Industrial Power        
Group ("Industrial"), Medical Systems Group ("Medical"), Display Systems        
Group ("Display"), and Security Systems Division ("Security"). Common           
logistics, information systems, finance, legal, human resources and general     
administrative functions support the entire organization. The Company's         
support organization is highly centralized with most corporate functions        
located at its administrative headquarters and principal stocking facility in   
LaFox, Illinois.                                                                

RF & Wireless Communications Group                                              

The RF & Wireless Communications Group serves the rapidly expanding global RF   
and wireless communications market and the radio and television broadcast       
industry. Our product and sales team of RF and wireless engineers assists our   
customers in designing circuits, selecting cost effective components,           
planning reliable and timely supply, prototype testing and assembly.            

Growth in wireless applications is accelerating as the demand for all types     
of wireless communication gains in popularity. In addition to voice             
communication, the demand for high-speed data transmission will require major   
investments in both system upgrades and new systems to handle broader           
bandwidth.                                                                      

Richardson supports these growth opportunities by partnering with many of the   
key RF and wireless component manufacturers. A key to our success in            
relationships with our vendors is the visibility we give them to worldwide      
demand for their current products and products in development. Richardson's     
global information system includes programs that our sales force use to         
forecast product demand by potential design opportunity based on dialog with    
our customers. This information is shared with our product suppliers to         
assist them in predicting near and long-term demand and product life cycles.    
Richardson has global distribution agreements with such leading semiconductor   
suppliers as Anadigics, Ericsson, M/A-COM, Motorola and Stanford                
Microdevices. In addition, Richardson has partnerships with many niche RF and   
wireless suppliers to form the most comprehensive RF and wireless resource in   
the industry.                                                                   

(5)   

The following is a description of Wireless's major product groups:              
RF and Microwave Devices - a wide variety of components, such as mixers,        
switches, amplifiers, oscillators and RF diodes, which are used in              
telecommunications and other related markets, such as broadcast, cable TV,      
cellular and PCS, satellite, wireless LANs and various other wireless           
applications.                                                                   

Interconnect Devices - passive components used to connect all types of          
electronic equipment including those employing RF technology.                   
Broadcast Equipment - video products, camera tubes, klystrons, transmitters     
and accessories used for radio and television broadcasting.                     

Richardson participates in RF and wireless applications and markets             
throughout  the world. In the past year, we increased our market share in RF    
and wireless applications used in industrial, broadcast, avionics and           
cellular markets. In particular, in cellular applications, the infrastructure   
has lagged the 35 percent growth rate of the subscriber market. We expect to    
benefit as the infrastructure is built out to meet subscriber demand. We are    
also expanding in the broadband and fiber optic markets as they continue to     
gain popularity. The rollout of new third generation networks will also         
require significant investment over the next three years. Richardson's RF and   
Wireless Communication Group is in an excellent position to participate in      
each of these growing markets.                                                  

Industrial Power Group                                                          

Richardson serves a broad range of customers including the steel, automotive,   
textile, plastics, semiconductor, marine and avionics industries. Our           
engineering skill and products are used in countless applications, such as      
motor speed controls, industrial heating, laser technology, semiconductor       
manufacturing equipment, radar and welding.                                     

Historically, two separate sales teams focused on different product lines:      
vacuum tubes or solid state. The recent reorganization to a market focus        
combined the two sales teams into one. The realignment has been extremely       
well received; not only by our industrial customers, but also our vendors who   
value the dedication we are placing on the industrial market.                   

We are committed to a specialized strategy of providing engineered solutions    
for our customers. With our technical expertise and value-added capabilities,   
we offer the customer design services, lower-cost product alternatives,         
complementary products, system integration, component modification and          
assembly. This broad array of services supports both OEM's and end-users.       

In the past several years, we have expanded our offerings in power conversion   
technology to include designing new systems. Today, Richardson is a leading     
systems integrator and supplier of components and assemblies for microwave      
equipment used to make semiconductors. Designing our products into new OEM      
applications also increases the probability of our participation in after-      
market sales.                                                                   

(6) 

In fiscal 2000, we succeeded in expanding existing franchise agreements as      
well as attracting new vendors. APT, CPI, Jennings and Westcode expanded our    
territories and Altec, Bussmann, Ferraz, Illinois Capacitor, Nissei-            
Arcotronics, and Ohmite were added to our line card. We also represent Burle,   
Hitachi, Powerex, Toshiba, Triton and Varian. Collectively, this group          
represents the key manufacturers of industrial electronic components in the     
world.                                                                          

The following is a description of Industrial's major product groups:            

Power Semiconductors - solid-state, high-frequency power amplifiers used in     
broadcast, cellular, aircraft and satellite communications and in many types    
of electronic instrumentation. In many circumstances, the customer prefers to   
acquire the complete assembly as opposed to the discrete transistor.            
Accordingly, the Company expanded its product offering to include design and    
prototype assembly of amplifiers and pallets incorporating RF power             
transistors.                                                                    

Silicon Controlled Rectifiers ("SCRs"), Heat Sink Assemblies and Power          
Semiconductor Modules - components used in many industrial control              
applications because of their ability to switch large amounts of power at       
high speeds. These silicon power devices are capable of operating at up to      
4,000 volts at 2,000 amperes.                                                   

High Voltage and Power Capacitors - devices used in industrial, avionics,       
medical and broadcast applications for filtering, high-current by-pass, feed-   
through capacitance for harmonic attenuation, pulse shaping, grid and plate     
blocking, tuning of tank circuits, antenna coupling and energy discharge.       

Power Amplifier / Oscillator Tubes - vacuum or gas-filled tubes used in         
applications where current or voltage amplification and/or oscillation is       
required. Applications include induction heating, diathermy equipment,          
communications and radar systems and power supplies for voltage regulation or   
amplification.                                                                  

Microwave Generators - devices that incorporate magnetrons, which are high      
vacuum oscillator tubes used to generate energy at microwave frequencies. The   
pulsed magnetron is predominantly used to generate high-energy microwave        
signals for radar applications. Magnetrons are also used in vulcanizing         
rubber, food processing, packaging, wood / glue drying, in the manufacture of   
wafers for the semiconductor industry and other industrial heating              
applications such as microwave ovens and by the medical industry for            
sterilization and cancer therapy.                                               

Hydrogen Thyratrons - electron tubes capable of high speed and high voltage     
switching. They are used to control the power in laser and radar equipment      
and in linear accelerators for cancer treatment.                                

Thyratrons and Rectifiers - vacuum or gas-filled tubes used to control the      
flow of electrical current. Thyratrons are used to control ignitrons,           
electric motor speed controls, theatrical lighting and machinery such as        
printing presses and various types of medical equipment. Rectifiers are used    
to restrict electric current flow to one direction in power supply              
applications.                                                                   

 (7)

Ignitrons - mercury pool tubes used to control the flow of large amounts of     
electrical current. Their primary applications are in welding equipment,        
power conversion, fusion research and power rectification equipment.            

Geographically, our vacuum tube revenue base is spread broadly over the         
world, while solid state sales are concentrated in North America. This          
imbalance represents a significant opportunity. With the reorganization, a      
major initiative is to capitalize on our existing worldwide customer            
relationships and grow the solid state segment of the business outside North    
America.                                                                        

Medical Systems Group                                                           

Richardson's serves the medical imaging market, providing system upgrades and   
integration services in addition to a wide range of diagnostic imaging          
components. Our team of medical imaging specialists and display product         
professionals support medical service dealers and hospital maintenance          
professionals throughout the world.                                             

The Company's broad range of products cover applications for conventional,      
angiographic, cardiac catherizations and computed tomography X-ray systems,     
as well as magnetic resonance imaging and ultrasound systems. Glassware         
products include X-ray tubes, medical imaging intensifiers and camera tubes.    
Other products include high-resolution color and monochrome displays, X-ray     
generators, cable assemblies and test equipment. We support the customers'      
requirements for imaging products from such well-known sources as Comet,        
Dunlee, InfiMed, Thomson and Toshiba and, for display products, Barco,          
Clinton, Dome Imaging, Image Systems, NEC, and Philips-FIMI and Siemens.        

The following is a description of Medical's major product groups:               
CT and X-Ray Tubes - glass and glass/metal vacuum tubes which generate high-    
frequency radiation for use in medical diagnostic imaging including             
fluoroscopy and computer-aided tomography ("CAT-scan").                         

Image Intensifiers - glass/metal vacuum tube that converts x-ray level          
radiation into light-level energy used in fluoroscopy, angio, and digital       
imaging applications.                                                           

High Resolution Displays - an integral component of Picture and Archiving       
Communications Systems (PACS), displays are used in diagnostic and non-         
diagnostic imaging to display the digital image generated from CT, MRI,         
radiography and other digital modalities.                                       

The Medical Systems Group reloads X-ray tubes and image intensifiers in         
Dallas, Texas, Richmond, Virginia and Amsterdam, Holland. Our Richmond          
facility also provides engineering expertise to customize medical imaging       
upgrades and to integrate various imaging components into packaged "sub-        
systems." Our reloaded X-ray tubes include Dunlee, GE, Philips, Shimatzu,       
Siemens and Toshiba. Remanufactured or upgraded image intensifier systems       
include GE, Philips, Picker and Siemens equipment. All reloaded or              
remanufactured products meet or exceed manufacturers' specifications at a       
substantial cost savings to the customer.                                       

(8) 

Among Richardson's newest offerings is RELLmed, an integrated imaging           
solution that facilitates 100 percent compatibility between imaging hardware.   
RELLmed bundles fully configured computers, video controller cards and high-    
resolution display monitors into a single operating system that can be          
custom-designed to meet specific requirements.                                  

Display Systems Group                                                           

Richardson provides system integration and custom product solutions for the     
public information display, financial, point-of-sale and general data display   
markets. The customer base includes organizations from virtually all areas of   
business, including, stock exchanges, airlines, and fast food franchises, in    
addition to all types of industrial users of data display devices.              

The Display Systems Group's historical growth and success can be attributed     
to addressing a niche market as the unique source for Cathode Ray Tube          
("CRT") replacement products. The Company has developed an extensive cross      
reference capability, enabling Richardson to identify replacement tubes for     
more than 200,000 original manufacturers' model or part numbers and to source   
and inventory replacement tubes.                                                

While CRT's are still an important part of the business, future growth will     
be in the custom design and integration of flat panel displays and monitors.    
Our technical sales team assists customers in developing solutions for data     
display issues such as, space limitations, special mounting, glare,             
ruggedness, touch screen requirements and many others. This business grew by    
more than 100 percent in fiscal 2000.                                           

Richardson has long-standing relationships with key manufacturers including     
Clinton, Fujitsu, NEC/Mitsubishi, Panasonic, Philips-FIMI, Siemens and Sony,    
among others. The Company has design and assembly operations in Chicago,        
Illinois and Boston, Massachusetts and stocking locations in Chicago and        
Lincoln, England.                                                               

The following is a description of Display's major product groups:               

Cathode Ray Tubes - vacuum tubes that convert an electrical signal into a       
visual image to display information on computer terminals or televisions.       
CRTs are used in various environments, including hospitals, financial           
institutions, airports and numerous other applications wherever large user      
groups share electronic data visually. The product line includes both           
monochrome and color tubes.                                                     

Data Display Monitors - peripheral components incorporating a color or          
monochrome CRT capable of displaying an analog or digitally generated video     
signal.                                                                         

Flat Panel Displays - display monitors incorporating a liquid crystal display   
or plasma panel, rather than a CRT, typically a few inches in depth and         
ranging from 10" to 42" measured diagonally.                                    

Security Systems Division                                                       

Richardson is a full-line distributor of closed circuit television ("CCTV"),    
fire, burglary, access control, sound and communication products and            
accessories. We specialize in CCTV design-in support and have particular        

(9) 

expertise in the industry's fastest growth area - applications employing        
digital technology. Security Systems has 24 stocking locations in the world     
with 17 in North America, 4 in Europe and 3 in Latin America.                   

Richardson supports its worldwide customer base with products from more than    
100 manufacturers including such well-known names as Aiphone, Mitsubishi,       
Panasonic, Paradox, Pelco, Sanyo, and Sony. In addition, the Company carries    
its own private label brand, National Electronics.                              

The Company serves its customers through a 100 person direct sales force        
averaging more than eight years of experience, a 150 page catalog and a web     
site, www.cctvnet.com.                                                          

The following is a description of SSD's major product groups:                   
CCTV Products - including cameras, lenses, monitors, scanners, time lapse       
recorders and associated accessories, are used in surveillance applications     
and for monitoring hazardous environments in the workplace.                     
Burglar and Fire Detection Systems - devices used to detect unauthorized        
access to an area or the presence of smoke or fire.                             

Commercial Sound Systems - sound reproduction components used in background     
music, paging and telephonic interconnect systems.                              

The security systems industry is moving to wireless technology and digital      
imaging. Richardson is at the forefront of this transition, developing new      
products under the National brand, including state-of-the-art equipment such    
as hard disk recording, Internet based transmission, covert applications,       
speed dome applications and telephone-control-based CCTV systems.               

Distribution and Marketing                                                      

The Company purchases RF and power semiconductors, vacuum tubes, monitors and   
flat panel displays, and electronic security products and systems from          
various sources, including Advanced Power Technology, Ad-Tech Industries,       
ANADIGICS, Clinton Electronics, Communication and Power Industries ("CPI"),     
Covimag, Dunlee, Ericsson, FIMI, Fujitsu, Gasser & Sons, General Electric, Hi   
Sharp, Huber & Suhner, Jennings, KDI Electronics, Litton, M/A-COM, Marconi,     
Motorola, MPD, New Japan Radio, Orion/Daewoo, NEC Tecnologies, Panasonic,       
Paradox, Pelco, Philips, Powerex, QMI, RF Prime, Samsung, Samtell, Sanyo, SCT   
Societe des Ceramiques, Semtech, Sensormatic, Sony, Stanford Microdevices,      
Stellex Microwave Systems, Teletube, THOMSON, Toshiba, Triton Services,         
United Monolithic Semiconductor, Varian Associates and Watkins Johnson.         

In 1991, the Company settled an antitrust suit with the U.S. Department of      
Justice related to its participation in the electron tube manufacturing         
industry. As a consequence, certain of its manufacturing activities became      
uneconomic and were divested or discontinued, including the sale of the         
Company's former Brive, France manufacturing operation to local management.     
Formal transfer of ownership occurred in January 1995. Under an evergreen       
agreement, the Company and Covimag negotiate a purchase commitment on an        
annual basis. Covimag is managed by the same individuals previously employed    
by the Company at this facility. Covimag is highly dependent on Richardson,     
which is its primary customer. Settlement of purchases under the contract is    
at standard terms. Except for the supply contract, Richardson has no other      
financial commitment to or from Covimag. Relationships under the supply         
contract are believed by the Company to be satisfactory.                        

(10)  

In addition to the agreement with Covimag, the Company has marketing            
distribution agreements with various manufacturers in the electron tube,        
semiconductor and CCTV industries. The most significant distributor agreement   
is with CPI under which the Company is the exclusive distributor of power       
grid tubes throughout the world, with the exception of the United States and    
certain Eastern European countries. In these areas, however, the Company        
remains the only CPI stocking distributor.                                      

Customer orders are taken by the regional sales offices and generally           
directed to one of Richardson's principal distribution facilities in LaFox,     
Illinois; Houston, Texas; Vancouver, British Columbia; or Lincoln, England.     
There are 33 additional stocking locations throughout the world. The Company    
utilizes a sophisticated data processing network that provides on-line, real-   
time interconnection of all sales offices and central distribution              
operations, 24 hours per day, seven days per week. Information on stock         
availability, cross-reference information, customers and market analyses are    
instantly obtainable throughout the entire distribution network.                

Manufacturing                                                                   

The Company distributes its proprietary products principally under the trade    
names "National," "Cetron," "RF Gain", 'Amperex." and "MONORAY".                
Approximately 23% of the Company's sales are from products it manufactures or   
modifies through value-added services. The Company also sells products under    
these brand names made by independent manufacturers to the Company's            
specifications.                                                                 

The products currently manufactured by the Company, or subcontracted on a       
proprietary basis for the Company, include RF amplifiers, transmitters and      
pallet assemblies thyratrons and rectifiers, power tubes, ignitrons,            
microwave generators, electronic display tubes, phototubes, SCR assemblies      
and spark gap tubes. Richardson reloads and remanufactures medical x-ray        
tubes. The materials used in the manufacturing process consist of glass bulbs   
and tubing, nickel, stainless steel and other metals, plastic and metal         
bases, ceramics and a wide variety of fabricated metal components. These        
materials generally are readily available, but some components may require      
long lead times for production and some materials are subject to shortages or   
price fluctuations based on supply and demand.                                  

Employees                                                                       

As of May 31, 2000, the Company employed 990 individuals on a full-time         
basis. Of these, 583 are located in the United States, including 73 employed    
in administrative and clerical positions, 411 in sales and distribution and     
99 in                                                                           

(11)  

value-added and product manufacturing. The Company's international              
subsidiaries employ 407 individuals engaged in administration, sales,           
distribution, manufacturing and value-added operations. All of Richardson's     
employees are non-union. The Company's relationship with its employees is       
considered to be good.                                                          

Competition                                                                     

Richardson believes that, on a global basis, it is a significant distributor    
of RF and power semiconductors and subassemblies, electron tubes, CRTs and      
security systems. For many of its product offerings, the Company competes       
against the OEM for sales of replacement parts and system upgrades to service   
existing installed equipment. In addition, the Company competes worldwide       
with other general line distributors and other distributors of electronic       
components.                                                                     

Patents and Trademarks                                                          

The Company holds or licenses certain manufacturing patents and trademark       
rights, including the trademarks "National," "Cetron" and "Amperex." The        
Company believes that although its patents and trademarks have value, they      
will not determine the Company's success, which depends principally upon its    
core engineering capability, marketing technical support, product delivery      
and the quality and economic value of its products.                             

Item 2.     Properties                                                          

The Company's corporate facility and largest distribution center is owned by    
the Company and is located on approximately 300 acres in LaFox, Illinois,       
consisting of approximately 255,000 square feet of manufacturing, warehouse     
and office space. Richardson also owns a building containing approximately      
45,000 square feet of warehouse space on 1.5 acres in Geneva, Illinois. Owned   
facilities outside of the United States are located in England, Spain and       
Italy.                                                                          

The Company also maintains leased branch sales offices in or near major         
cities throughout the world, including 41 locations in North America, 14 in     
Europe, 11 in the Far East / Pacific Rim and 4 in Latin America. The Company    
leases production facilities in Texas, Virginia and the Netherlands for its     
medical tube reloading operations.                                              

Item 3.      Legal Proceedings                                                  

The Company is a defendant in Panache Broadcasting of Pennsylvania v.           
Richardson Electronics, Ltd., et. al., in United States District Court,         
Northern District of Illinois, filed in 1990. The complaint is a class action   
for purposes of liability determination on behalf of all persons and            
businesses in the United States who purchased electron power tubes              
encompassed by the VASCO joint venture of the defendants from one or more of    
the defendant corporations at any time between February 26, 1986 and May 13,    
1999. The complaint alleges antitrust violations and seeks treble damages,      
injunctive relief and attorneys fees. The Company has denied the material       
allegations. The case remains primarily in the preliminary discovery stage.     

From time to time the Company is involved in other litigation arising in the    
normal course of its business which is not expected to have a material          
adverse effect on the Company.                                                  

(12)  

Item 4.     Submission of Matters to a Vote of Security Holders                 

No matters were submitted to a vote of stockholders, through the solicitation   
of proxies or otherwise, during the fourth quarter of the fiscal year ended     
May 31, 2000.                                                                   

  (13)

   PART II

Item 5.     Market for the Registrant's Common Equity and Related Stockholder   
Matters                                                                         

Incorporated herein by reference to pages 18 (for dividend payments) and 30     
(for market data) of the Company's 2000 Annual Report for the fiscal year       
ended May 31, 2000 (Annual Report).                                             

Item 6.     Selected Financial Data                                             

Incorporated herein by reference to page 12 of the Annual Report.               

Item 7.     Management's Discussion and Analysis of Financial Condition and     
Results of Operations                                                           

Incorporated herein by reference to pages 13 to 16 of the Annual Report.        

Item 7A.     Quantitative and Qualitative Disclosures about Market Risk         

Investors should consider carefully the following risk factors, in addition     
to the other information included and incorporated by reference in this         
annual report on Form 10-K. All statements other than statements of             
historical facts included in this report are statements that constitute         
"forward-looking statements" within the meaning of Section 27A of the           
Securities Act and Section 21E of the Securities Exchange Act of 1934. The      
words "expect," "estimate," "anticipate," "predict," "believe" and similar      
expressions and variations thereof are intended to identify forward-looking     
statements. Such statements appear in a number of places in this report and     
include statements regarding the intent, belief or current expectations of      
the Company, its directors or its officers with respect to, among other         
things: (i) trends affecting the Company's financial condition or results of    
operations; (ii) the Company's financing plans; (iii) the Company's business    
and growth strategies, including potential acquisitions; and (iv) other plans   
and objectives for future operations. Investors are cautioned that any such     
forward-looking statements are not guarantees of future performance and         
involve risks and uncertainties and that actual results may differ materially   
from those predicted in the forward-looking statements or which may be          
anticipated from historical results or trends. In addition to the information   
contained in the Company's other filings with the Securities and Exchange       
Commission, factors which could affect future performance include, among        
others, the following:                                                          

* Competitive pressures may increase or change through industry                 
consolidation, entry of new competitors, marketing changes or otherwise.        
There can be no assurance that the Company will be able to continue to          
compete effectively with existing or potential competitors.                     

  (14)

* Technological changes may affect the marketability of inventory on hand.      

* General economic or business conditions, domestic and foreign, may be less    
favorable than expected, resulting in lower sales or lower profit margins       
than expected.                                                                  

* Changes in relationships with customers or vendors, the ability to develop    
new relationships or the business failure of several customers or vendors may   
affect sales or profitability.                                                  

* Political, legislative or regulatory changes may adversely affect the         
businesses in which the Company operates.                                       

* Changes in securities markets, interest rates or foreign exchange rates may   
adversely affect the Company's performance or stock price.                      

* The failure to obtain or retain key executive or technical personnel could    
affect future performance.                                                      

* The Company's growth strategy includes expansion through acquisitions.        
There can be no assurance that the Company will be able to successfully         
complete further acquisitions or that past or future acquisitions will not      
have an adverse impact on the Company's operations.                             

* The potential future sale of Common Stock shares, possible anti-takeover      
measures available to the Company, dividend policies, as well as voting         
control of the Company by Edward J. Richardson, Chairman of the Board and       
Chief Executive Officer may affect the stock price.                             

* The continued availability of financing on favorable terms can not be         
assured.                                                                        

Item 8.     Financial Statements and Supplementary Data                         

Incorporated herein by reference to pages 17 through 28 of the Annual Report.   

Item 9.     Changes in and Disagreements with Accountants on Accounting and     
Financial Disclosure.                                                           

No event has occurred within the 24 month period prior to the date of the       
Company's most recent financial statements, which would require disclosure      
under Item 9 of this Report.                                                    

(15)

  PART III

Item 10.     Directors and Executive Officers of the Registrant                 

Information concerning Directors and Executive Officers of the Company is       
contained in the Company's Proxy Statement to be used in connection with its    
Annual Meeting of Stockholders scheduled to be held October 3, 2000, under      
the captions "ELECTION OF DIRECTORS - Information Relating to Directors,        
Nominees and Executive Officers", "ELECTION OF DIRECTORS - Affiliations" and    
"SECTION 16 FILINGS", which information is incorporated herein by reference.    

Item 11.     Executive Compensation                                             

Incorporated herein by reference is information concerning executive            
compensation contained in the Company's Proxy Statement to be used in           
connection with its Annual Meeting of Stockholders scheduled to be held         
October 3, 2000, under the captions "ELECTION OF DIRECTORS - Directors          
Compensation" and "EXECUTIVE COMPENSATION", except for captions "REPORT ON      
EXECUTIVE COMPENSATION" and "PERFORMANCE GRAPH".                                

Item 12.     Security Ownership of Certain Beneficial Owners and Management     
Information concerning security ownership of certain beneficial owners and      
management is contained in the Company's Proxy Statement to be used in          
connection with its Annual Meeting of Stockholders scheduled to be held         
October 3, 2000, under the caption "ELECTION OF DIRECTORS - Information         
Relating to Directors, Nominees and Executive Officers" and "PRINCIPAL          
STOCKHOLDERS", which information is incorporated herein by reference.           

Item 13.     Certain Relationships and Related Transactions                     

Information concerning certain relationships and related transactions is        
contained in the Company's Proxy Statement to be used in connection with its    
Annual Meeting of Stockholders scheduled to be held October 3, 2000, under      
the caption "EXECUTIVE COMPENSATION - Compensation Committee Interlocks and     
Insider Participation", which information is incorporated herein by             
reference.                                                                      

(16)

PART IV   

Item 14.     Exhibits, Financial Statement Schedules, and Reports on Form 8-K   

(a)  The following consolidated financial statements of the registrant and      
its subsidiaries included on pages 17 through 28 of the Annual Report are       
incorporated herein by reference:                                               

                                                     Filing Method

Report of Independent Accountants                                 E             

1.     FINANCIAL STATEMENTS:                                                    

Consolidated Balance Sheets - May 31, 2000 and 1999        E      

Consolidated Statements of Operations - Years ended               
May 31, 2000, 1999 and 1998                           E 
Consolidated Statements of Cash Flows - Years ended               
May 31, 2000, 1999 and 1998                           E 
Consolidated Statements of Stockholders' Equity -                 
Years ended May 31, 2000, 1999 and 1998               E 

Notes to Consolidated Financial Statements                 E      

The following consolidated financial information for the fiscal years 
2000, 1999 and 1998 is submitted herewith:                                      

2.     FINANCIAL STATEMENT SCHEDULE:                                            

II.  Valuation and Qualifying Accounts                    E       

All other schedules for which provision is made in the applicable     
accounting regulations of the Securities and Exchange Commission are not        
required under the related instructions or are inapplicable, and therefore,     
have been omitted.                                                              

(b)     REPORTS ON FORM 8-K.                                          

None.                                               

(17)  

(c)EXHIBITS                                                           

                                                     Filing Method
3(b) By-laws of the Company, as amended, incorporated                           
by reference to the Company's Annual Report on                    
Form 10-K for the fiscal year ended May 31, 1997.         NA      
4(a) Restated Certificate of Incorporation of the Company,                      
incorporated by reference to Appendix B to the                      
Proxy Statement / Prospectus dated                                  
November 13, 1986, incorporated by reference to the                 
Company's Registration Statement on Form S-4,                       
Commission File No. 33-8696.                               NA       

4(b)  Specimen forms of Common Stock and Class B Common                         
Stock certificates of the Company incorporated by                   
reference to Exhibit 4(a) to the Company's                          
Registration Statement on Form S-1, Commission File                 
No. 33-10834.                                              NA       

4(c)  Indenture between the Company and Continental                             
Illinois National Bank and Trust Company of Chicago                 
(including form of 71/4% Convertible Subordinated                   
Debentures due December 15, 2006) incorporated by                   
reference to Exhibit 4(b) to the Company's Annual                   
Report on Form 10-K for the fiscal year ended                       
May 31, 1987.                                              NA       

4(c)(1)First Amendment to the Indenture between the                             
Company and First Trust of Illinois, a National                   
Association, as successor to Continental Illinois                 
National Bank and Trust Company of Chicago, dated                 
February 18, 1997, incorporated by reference to                   
Exhibit 4(a) to the Company's Quarterly Report on                 
Form 10-Q for the quarter ended February 28, 1997.        NA      
4(d)   Indenture between the Company and American National                      
Bank and Trust Company, as Trustee, for 8 1/4%                    
Convertible Senior Subordinated Debentures due                    
June 15, 2006 (including form of 8 1/4% Convertible               
Senior Subordinated Debentures due June 15, 2006)                 
incorporated by reference to Exhibit 10 of the                    
Company's Schedule 13E-4, filed February 18, 1997.        NA      
10(a)  Loan Agreement dated as of March 1, 1998 among                           
Richardson Electronics, Ltd., various lending                     
institutions and American National Bank and Trust                 
Company of Chicago as Agent, establishing a                       
$50,000,000 Credit Facility, incorporated by reference            
to Exhibit 10(a) to the Company's Quarterly Report on             
Form 10-Q for the quarter ended February 28, 1998.        NA      

(18)  

10(a)(1)Amendment dated February 4, 2000 to the loan                            
agreement referred to in 10(a) above.                     E     
10(b)   Amended and Restated Credit Agreement made as of                        
March 1, 1998 between Burtek Systems, Inc. as                   
Borrower and First Chicago NBD Bank, Canada as                  
Lender Richardson Electronics, Ltd. as Guarantor,               
incorporated by reference to Exhibit 10(b) to the               
Company's Quarterly Report on Form 10-Q for the                 
quarter ended February 28, 1998.                         NA     
10(c)   The Corporate Plan for Retirement The Profit Sharing /                  
401(k) Plan Fidelity Basic Plan Document No. 07 dated           
June 1, 1996, incorporated by reference to Exhibit 10(d)        
to the Company's Annual Report on Form 10-K for the             
fiscal year ended May 31, 1996.                          NA     
10(d)   The Company's Amended and Restated Incentive Stock                      
Option Plan effective April 8, 1987 incorporated by             
reference to Exhibit 10(m) to the Company's Annual              
Report on Form 10-K for the fiscal year ended                   
May 31, 1987.                                            NA     
10(d)(1)First Amendment to the Company's Amended and Restated                   
Incentive Stock Option Plan effective April 11, 1989            
incorporated by reference to Exhibit 10(l)(1) to the            
Company's Annual Report on Form 10-K for the fiscal             
year ended May 31, 1989.                                 NA     
10(d)(2)Second Amendment to the Company's Amended and Restated                  
Incentive Stock Option Plan effective April 11, 1989            
incorporated by reference to Exhibit 10(l)(2) to the            
Company's Annual Report on Form 10-K for the fiscal             
year ended May 31, 1991.                                 NA     
10(d)(3)Third Amendment to the Company's Amended and Restated                   
Incentive Stock Option Plan effective April 11, 1989            
dated August 15, 1996, incorporated by reference to             
the Company's Proxy Statement used in connection with           
its Annual Meeting of Stockholders held October 1, 1996. NA     
10(e)   Richardson Electronics, Ltd. Employees 1996 Stock                       
Purchase Plan incorporated by reference to Appendix A           
of the Company's Proxy Statement dated September 3, 1996        
for its Annual Meeting of Stockholders held on                  
October 1, 1996.                                         NA     
10(f)   Employees Stock Ownership Plan and Trust Agreement,                     

(19)

effective as of June 1, 1987, dated July 14, 1994,              
incorporated by reference to Exhibit 10(f) to the               
Company's Annual Report on Form 10-K for the fiscal             
year ended May 31, 1994.                                 NA     
10(f)(1)First Amendment to Employees Stock Ownership Plan                       
and Trust Agreement, dated July 12, 1995,                       
incorporated by reference to Exhibit 10(g)(1) to the            
Company's Annual Report on Form 10-K for the fiscal             
year ended May 31, 1995.                                 NA     
10(f)(2)Second Amendment to Employees Stock Ownership Plan                      
and Trust Agreement, dated July 12, 1995, dated                 
April 10, 1996, incorporated by reference to the                
Company's Proxy Statement used in connection with its           
Annual Meeting of Stockholders held October 1, 1996.     NA     
10(f)(3)Third Amendment to Employees Stock Ownership Plan and                   
Trust Agreement, dated July 12, 1995, dated                     
April 9,1997 incorporated by reference to the Company's         
Annual Report on Form 10-K for the fiscal year ended            
May 31, 1998.                                            NA     
10(g)   Richardson Electronics, Ltd. Employees 1999 Stock                       
Purchase Plan, incorporated by reference to the                 
Company's Annual Report on Form 10-K for the fiscal             
year ended May 31, 1999.                                 NA     
10(h)   Stock Option Plan for Non-Employee Directors                            
incorporated by reference to Appendix A to the                  
Company's Proxy Statement dated August 30, 1989 for             
its Annual Meeting of Stockholders held on                      
October 18, 1989.                                        NA     
10(i)   Richardson Electronics, Ltd. 1996 Stock Option Plan                     
for Non-Employee Directors, incorporated by reference           
to Appendix C of the Company's Proxy Statement dated            
September 3, 1996 for its Annual Meeting of                     
Stockholders held on October 1, 1996.                    NA     
10(j)   The Company's Employees' Incentive Compensation Plan                    
incorporated by reference to Appendix A to the                  
Company's Proxy Statement dated August 31, 1990 for             
its Annual Meeting of Stockholders held on                      
October 9, 1990.                                         NA     
10(j)(1)First Amendment to Employees Incentive Compensation                     
Plan incorporated by reference to Exhibit 10(p)(1)              
to the Company's Annual Report on Form 10-K for the             
fiscal year ended May 31, 1991.                          NA     
10(j)(2)Second Amendment to Employees Incentive Compensation                    

(20)  

Plan dated August 15, 1996, incorporated by reference           
to the Company's Proxy Statement used in connection             
with its Annual Meeting of Stockholders held                    
October 1, 1996.                                         NA     
10(k)   Richardson Electronics, Ltd. Employees' 1994                            
Incentive Compensation Plan incorporated by reference           
to Exhibit A to the Company's Proxy Statement dated             
August 31, 1994 for its Annual Meeting of Stockholders          
held on October 11, 1994.                                NA     
10(k)(1)First Amendment to the Richardson Electronics, Ltd.                     
Employees' 1994 Incentive Compensation Plan dated               
August 15, 1996, incorporated by reference to the               
Company's Proxy Statement used in connection with               
its Annual Meeting of Stockholders held October 1, 1996. NA     
10(l)   Richardson Electronics, Ltd. 1996 Incentive                             
Compensation Plan incorporated by reference to                  
Appendix B of the Company's Proxy Statement dated               
September 3, 1996 for its Annual Meeting of Stockholders        
held on October 1, 1996.                                 NA     
10(m)   Richardson Electronics, Ltd. 1998 Incentive Compensation                
Plan incorporated by reference to Appendix A of the             
Company's Proxy Statement dated September 3, 1998 for           
its Annual Meeting of Stockholders held on                      
October 6, 1998.                                         NA     
10(n)   Correspondence outlining Agreement between the Company                  
and Arnold R. Allen with respect to Mr. Allen's                 
employment by the Company, incorporated by reference            
to Exhibit 10(v) to the Company's Annual Report on Form         
10-K, for the fiscal year ended May 31, 1985.            NA     
10(n)(1)Letter dated February 3, 1992 between the Company and                   
Arnold R. Allen outlining Mr. Allen's engagement as a           
consultant by the Company, incorporated by reference to         
Exhibit 10 (r)(1) to the Company's Annual  Report on            
Form 10-K, for the fiscal year ended May 31, 1992.       NA     
10(n)(2)Letter dated April 1, 1993 between the Company and                      
Arnold R. Allen regarding Mr. Allen's engagement as             
consultant by the Company, incorporated by reference            
to Exhibit 10(i)(2) to the Company's Annual Report on           
Form 10-K for the fiscal year ended May 31, 1994.        NA     
10(o)   Letter dated January 14, 1992 between the Company and                   
Jacques Bouyer setting forth the terms of Mr. Bouyer's          
engagement as a management consultant by the Company            

(21)  

for Europe, incorporated by reference to Exhibit                
10(t)(1) to the Company's Annual Report on Form 10-K            
for the fiscal year ended on May 31, 1992.               NA     
10(o)(1)Letter dated January 15, 1992 between the Company and                   
Jacques Bouyer setting forth the terms of Mr. Bouyer's          
engagement as a management consultant by the Company            
for the United States, incorporated by reference to             
Exhibit 10(t)(1) to the Company's Annual Report on Form         
10-K for the fiscal year ended on May 31, 1992.          NA     
10(p)   Letter dated January 13, 1994 between the Company                       
and Samuel Rubinovitz setting forth the terms of                
Mr. Rubinovitz' engagement as management consultant by          
the Company incorporated by reference to Exhibit 10(m)          
to the Company's Annual Report on Form 10-K for the             
fiscal year ended on May 31, 1994.                       NA     
10(q)   Letter dated May 20, 1994 between the Company and                       
William J. Garry setting forth the terms of Mr. Garry's         
employment by the Company, incorporated by reference to         
Exhibit 10(p) to the Company's Annual Report on Form            
10-K for the fiscal year ended on May 31, 1994.          NA     
10(r)   Employment, Nondisclosure and Non-Compete Agreement                     
dated June 1, 1998 between the Company and Flint Cooper         
setting forth the terms of Mr. Cooper's employment by           
the Company, incorporated by reference to Exhibit 10(p)         
to the Company's Annual Report on Form 10-K for the             
fiscal year ended on May 31, 1998.                       NA     
10(s)   Agreement dated January 16, 1997 between the Company                    
and Dennis Gandy setting forth the terms of                     
Mr. Gandy's employment by the Company, incorporated             
by reference to Exhibit 10(b) to the Company's                  
Quarterly Report on Form 10-Q for the quarter ended             
February 28, 1997.                                       NA     
10(t)   Agreement dated March 21, 1997 between the Company                      
and David Gilden setting forth the terms of                     
Mr. Gilden's employment by the Company, incorporated            
by reference to Exhibit 10(c) to the Company's                  
Quarterly Report on Form 10-Q for the quarter ended             
February 28, 1997.                                       NA     
10(u)   Employment agreement dated as of November 7, 1996                       
between the Company and Bruce W. Johnson                        
incorporated by reference to Exhibit (c)(4) of the              
Company's Schedule 13 E-4, filed December 18, 1996.      NA     

(22)  

10(v)   Employment agreement dated as of May 10, 1993 as                        
amended March 23, 1998 between the Company and                  
Pierluigi Calderone incorporated by reference to                
Exhibit 10(d) of the Company's Quarterly Report on              
Form 10-Q for the quarter ended February 28, 1998.       NA     
10(w)   Employment agreement dated as of September 26, 1999                     
between the Company and Murray Kennedy.                   E     
10(x)   Employment agreement dated as of November 22, 1999                      
between the Company and Gregory Peloquin.                 E     
10(y)   Employment agreement dated as of December 7, 1999                       
between the Company and Kevin Oakley.                     E     
10(z)   Employment agreement dated as of May 30, 2000                           
between the Company and Robert Heise.                     E     
10(aa)  The Company's Directors and Officers Liability                          
Insurance Policy issued by Chubb Group of Insurance             
Companies Policy Number 8125-64-60A, incorporated by            
reference to  Exhibit 10(t) to the Company's Annual             
Report on Form 10-K for the fiscal year ended                   
May 31, 1991.                                            NA     
10(bb)(1)The Company's Directors and Officers Executive                         
Liability and Indemnification Insurance Policy                
renewal issued by Chubb Group of Insurance                    
Companies - Policy Number 8125-64-60F,                        
incorporated by reference to Exhibit 10(z)(1) of              
the Company's Annual Report on Form 10-K for the              
year ended May 31, 1999.                                NA    
10(bb)(2)The Company's Excess Directors and Officers                            
Liability and Corporate Indemnification Policy                
issued by St. Paul Mercury Insurance Company -                
Policy Number 900DX0414, incorporated by reference            
to Exhibit 10(z)(2) of the Company's Annual Report            
on Form 10-K for the year ended May 31, 1999.           NA    
10(bb)(3)The Company's Directors and Officers Liability                         
Insurance Policy issued by CNA Insurance                      
Companies - Policy Number DOX600028634, incorporated          
by reference to Exhibit 10(z)(3) of the Company's             
Annual Report on Form 10-K for the year ended                 
May 31, 1999.                                           NA    
10(cc)   Distributor Agreement, executed August 8, 1991,                        
between Registrant and Varian Associates, Inc.,               
incorporated by reference to Exhibit 10(d) of the             
Company's Current Report on Form 8-K for                      
September 30, 1991.                                     NA    

(23)  

10(cc)(1)Amendment, dated as of September 30, 1991, between                     
Registrant and Varian Associates,  Inc.,                      
incorporated by reference to Exhibit 10(e) of the             
Company's Current Report on Form 8-K for                      
September 30, 1991.                                     NA    
10(cc)(2)First Amendment to Distributor Agreement between                       
Varian Associates, Inc. and the Company as of                 
April 10, 1992, incorporated by reference to                  
Exhibit 10(v)(5) of the Company's Annual Report on            
Form 10-K for the fiscal year ended May 31, 1992.       NA    
10(cc)(3)Consent to Assignment and Assignment dated                             
August 4, 1995 between Registrant and Varian                  
Associates Inc., incorporated by reference to                 
Exhibit 10(s)(4) of the Company's Annual Report               
on Form 10-K for the fiscal year ended May 31, 1995.    NA    
10(cc)(4)Final Judgment, dated April 1, 1992, in the matter                     
of United States of America v. Richardson                     
Electronics, Ltd., filed in the United States District        
Court for the Northern District of Illinois, Eastern          
Division, as Docket No. 91 C 6211 incorporated by             
reference to Exhibit 10(v)(7) to the Company's Annual         
Report on Form 10-K for the fiscal year ended                 
May 31, 1992.                                           NA    
10(dd)   Trade Mark License Agreement dated as of May 1, 1991                   
between North American Philips Corporation and the            
Company incorporated by reference to Exhibit 10(w)(3)         
of the Company's Annual Report on Form 10-K for the           
fiscal year ended May 31, 1991.                         NA    
10(ee)   Agreement among Richardson Electronics, Ltd.,                          
Richardson Electronique S.A., Covelec S.A. (now known         
as Covimag S.A.), and Messrs. Denis Dumont and Patrick        
Pertzborn, delivered February 23, 1995, translated            
from French, incorporated by reference to Exhibit             
10(b) to the Company's Report on Form 8-K dated               
February 23, 1995.                                      NA    
10(ff)   Settlement Agreement by and between the United States                  
of America and Richardson Electronics, Ltd. Dated             
May 31, 1995 incorporated by reference to Exhibit             
10(a) to the Company's Report on Form 8-K dated               
May 31, 1995.                                           NA    

13       Annual Report to Stockholders for fiscal year ending                   
May 31, 2000 (except for the pages and information            
thereof expressly incorporated by reference in this           
Form 10-K, the Annual Report to Stockholders is               
provided solely for the information of the Securities         
and Exchange Commission and is not deemed "filed" as          
part of this Form 10-K).                                 E    

(24)  

21       Subsidiaries of the Company.                             E             
23       Consent of Independent Auditors.                         E             
27       Financial Data Schedule.                                 E             

(25)  

SIGNATURES  
Pursuant to the requirements of Section 13 or 15(d) of the Securities           
Exchange Act of 1934, the registrant has duly caused this report to be signed   
on its behalf by the undersigned, thereunto duly authorized.                    
RICHARDSON ELECTRONICS, LTD.                                

By:/s/                     By:/s/                                               
Edward J. Richardson,      Bruce W. Johnson,                                    
Chairman of the Board and  President and Chief Operating                        
Chief Executive Officer    Officer                                              

By:/s/                          
William J. Garry          
Senior Vice President and 
Date:  August 28, 2000    Chief Financial Officer                               

Pursuant to the requirements of the Securities Exchange Act of 1934, this       
report has been signed below by the following persons on behalf of the          
registrant and in the capacities and on the dates indicated.                    

/s/                                       /s/                                   
Edward J. Richardson, Chairman            Bruce W. Johnson, President,          
of the Board, Chief Executive             Chief Operating Officer, and          
Director                                                                        
Officer (principal executive officer)     August 28, 2000                       
and Director                                                                    
August 28, 2000                                                                 

/s/                                 /s/                                         
William J. Garry, Senior Vice       Arnold R. Allen, Director                   
President and Chief Financial       August 28, 2000                             
Officer (principal financial and                                                
accounting officer) and Director                                                
August 28, 2000                                                                 

/s/                                /s/                                          
Jacques Bouyer, Director           Scott Hodes, Director                        
August 28, 2000                    August 28, 2000                              

/s/                                /s/                                          
Ad Ketelaars, Director              John Peterson, Director                     
August 28, 2000                     August 28, 2000                             

/s/                                /s/                                          
Harold L. Purkey, Director          Samuel Rubinovitz, Director                 
August 28, 2000                     August 28, 2000                             

(26)  

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing		Date		Other Filings
		12/15/06
		6/15/06
		10/3/00		DEF 14A
		9/5/00		DEF 14A
Filed on:		8/29/00
		8/28/00
For Period End:		5/31/00		10-K/A
		5/30/00
		2/4/00
		12/7/99
		11/22/99
		9/26/99
		5/31/99		10-K,  DEF 14A
		5/13/99
		10/6/98
		9/3/98		DEF 14A
		6/1/98
		5/31/98		10-K
		3/23/98
		3/1/98
		2/28/98		10-Q
		5/31/97		10-K
		3/21/97
		2/28/97		10-Q
		2/18/97
		1/16/97
		12/18/96		SC 13E4
		11/7/96
		10/1/96
		9/3/96		DEF 14A
		8/15/96
		6/1/96
		5/31/96		10-K
		4/10/96
		8/4/95
		7/12/95
		5/31/95		10-K,  8-K
		2/23/95		8-K
		10/11/94
		8/31/94		10-Q,  DEF 14A
		7/14/94
		5/31/94		10-K
		5/20/94
		1/13/94
		5/10/93
		4/1/93
		5/31/92
		4/10/92
		4/1/92
		2/3/92
		1/15/92
		1/14/92
				List all Filings