Exhibit 99.1

			Corporate Headquarters 40W267 Keslinger Road PO Box 393
For Immediate Release
For Details Contact:
Edward J. Richardson		Kathleen S. Dvorak	LaFox, IL 60147-0393
Chairman and CEO		EVP & CFO	USA
Phone:	(630) 208-2340	(630) 208-2208	Phone:	(630) 208-2200
E-mail:	info@rell.com		Fax:	(630) 208-2550

RICHARDSON ELECTRONICS

REPORTS FISCAL 2008 RESULTS

LaFox, IL, July 30, 2008: Richardson Electronics, Ltd. (NASDAQ: RELL) today reported its results for the fourth quarter and full year ended May 31, 2008.

Net sales during fiscal 2008 were $568.4 million, up 2%, from net sales during fiscal 2007. Operating loss during fiscal 2008 was $1.3 million, compared to operating income of $7.8 million last year. Operating loss during fiscal 2008 includes a non-cash goodwill impairment charge of $11.5 million. Net loss from continuing operations for fiscal 2008, which includes the impairment charge, was $8.5 million, compared to net income from continuing operations during fiscal 2007 of $1.5 million. Net loss from continuing operations for fiscal 2008 includes a $2.3 million tax benefit related to the impairment charge.

Excluding the impairment charge, on a non-GAAP basis, operating income for fiscal 2008 was $10.2 million and net income from continuing operations was $0.8 million.

IMPROVED FOURTH QUARTER OPERATING PERFORMANCE

Net sales during the fourth quarter of fiscal 2008 were $155.1 million, compared to $146.2 million during fiscal 2007. Gross margin improved 190 basis points, from 22.5% during fiscal 2007, to 24.4% during fiscal 2008. Selling, general, and administrative expenses as a percent of net sales were 20.6%, compared to 24.9% last year. Operating loss during the fourth quarter of fiscal 2008, which includes the goodwill impairment charge, was $5.7 million, compared to an operating loss of $2.0 million last year. Excluding the impairment charge, operating income for the fourth quarter was $5.8 million and net income from continuing operations was $4.0 million.

“I am pleased with our sales growth and operating performance during the fourth quarter. Our sales growth of 6.0% includes growth in our RFPD and DSG businesses, while EDG remained relatively flat. In addition, I am encouraged by the improvements we are seeing in our underlying operating performance as well as the progress we have made with our company-wide initiatives.” said Edward J. Richardson, Chairman, Chief Executive Officer and President of Richardson Electronics, Ltd.

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“During the fourth quarter, our cash generated from operating activities was $19.7 million, compared to cash used in operating activities of $0.2 million last year. This reflects the improved working capital discipline implemented during fiscal 2008. We ended fiscal 2008 with total debt less cash of $15.6 million,” said Kathleen S. Dvorak, Executive Vice President and Chief Financial Officer.

“Our efforts are resulting in improvements in many of our key financial metrics. Excluding the goodwill impairment charge, our fourth quarter financial results demonstrate the capabilities of our business model to deliver sustainable, long-term growth and value for our shareholders,” added Mr. Richardson.

GOODWILL IMPAIRMENT

During the fourth quarter of every fiscal year, the Company reviews goodwill for impairment by applying a fair-value based test. The test for impairment indicated that the fair value of the Company’s Display Systems Group was less than its carrying value as of the March 1, 2008, measurement date. As a result, during the fourth quarter, the Company recorded an impairment charge of $11.5 million as a non-cash charge to operating expenses. The Company also recorded a $2.3 million tax benefit as a result of the impairment charge.

FINANCIAL HIGHLIGHTS — TWELVE MONTHS ENDED MAY 31, 2008

• Cash flows provided by operating activities were $27.9 million during fiscal 2008 while cash flows used in operating activities were $9.0 million during fiscal 2007.

• Net sales for the RF, Wireless & Power Division, the Electron Device Group, and the Display Systems Group increased 1.7%, 2.0%, and 3.1%, respectively, during fiscal 2008 compared to fiscal 2007.

• Gross margin percentage for the RF, Wireless & Power Division, the Electron Device Group, and the Display Systems Group decreased by 0.1%, 0.7%, and 2.2%, respectively, during fiscal 2008 compared to fiscal 2007.

• Excluding certain items as noted in the “Non-GAAP Financial Information” section of this press release, gross margin was $138.4 million during fiscal 2008, an increase of $6.0 million, compared to gross profit of $132.4 million during fiscal 2007. Gross margin percentage was 24.4% during fiscal 2008, a 60 basis point improvement, from 23.8% during fiscal 2007.

• Operating loss during fiscal 2008 was $1.3 million, compared to operating income of $7.8 million during fiscal 2007. Excluding the items noted in the “Non-GAAP Financial Information” section of this press release, operating income during fiscal 2008 was $16.3 million, a 101% increase, compared to operating income of $8.1 million during fiscal 2007.

• Net loss from continuing operations during fiscal 2008 was $8.5 million compared to net income from continuing operations of $1.5 million during fiscal 2007. Excluding the goodwill impairment charge of $11.5 million ($9.2 million, net of tax benefit of $2.3 million) net income from continuing operations during fiscal 2008 was $0.8 million.

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IMPROVED WORKING CAPITAL MANAGEMENT AND CASH FLOWS

Cash and cash equivalents were $40.0 million at May 31, 2008, as compared to $17.4 million as of June 2, 2007. The increase in overall cash and cash equivalents during fiscal 2008 reflects $29.3 million of cash provided by improved working capital management. This is a $37.9 million improvement compared to cash used to support an increase in working capital of $8.6 million during fiscal 2007.

Total debt less cash as of May 31, 2008, was $15.6 million, compared to $42.1 million as of June 2, 2007.

NON-GAAP FINANCIAL INFORMATION

Richardson Electronics, Ltd.

Gross Profit and Operating Income / (Loss) Reconciliations

(in millions)

	Twelve Months Ended May 31, 2008					Twelve Months Ended June 2, 2007
	Amount			Percent of Net Sales		Amount			Percent of Net Sales
GAAP Gross Profit, as reported	$	135.6		23.9	%	$	132.4		23.8	%
Adjustments:
Inventory write-downs		2.8		0.5	%		—		—
Adjusted Gross Profit	$	138.4		24.4	%	$	132.4		23.8	%
GAAP Operating Income/(Loss), as reported	$	(1.3	)	(0.2	)%	$	7.8		1.4	%
Adjustments:
Impairment of goodwill		11.5		2.0	%
Inventory write-downs		2.8		0.5	%		—		—
Employee termination related expenses		3.3		0.6	%		3.9		0.7	%
Less gain on disposal of assets		—		—			(3.6	)	(0.6	)%
Adjusted Operating Income	$	16.3		2.9	%	$	8.1		1.5	%

In addition to disclosing results that are determined in accordance with Generally Accepted Accounting Principles (“GAAP”), the Company adjusts for certain charges that it believes impacts the comparability of the results of operations.

The Company believes that such non-GAAP financial information is useful to investors to assist in assessing and understanding the Company’s operating performance and the underlying trends in the Company’s business.

OUTLOOK

“We believe that our cost reduction initiatives and our disciplined focus on working capital management will result in continued improvement in our cash flows and overall financial performance during fiscal 2009. I am encouraged by the progress we have made in a relatively short period of time and remain optimistic about our long-term prospects,” added Mr. Richardson.

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CONFERENCE CALL INFORMATION

On Thursday, July 31, 2008, at 9:00 a.m. CT, Edward J. Richardson, Chairman and Chief Executive Officer, and Kathleen S. Dvorak, Chief Financial Officer, will host a conference call to discuss the Company’s fourth quarter and fiscal 2008 results. A question and answer session will be included as part of the call’s agenda. To listen to the call, please dial 888-482-0024 and enter passcode 46231055 approximately five minutes prior to the start of the call. A replay of the call will be available beginning at 11:00 a.m. CT on July 31, 2008, for seven days. The telephone numbers for the replay are (USA) 888-286-8010 and (International) 617-801-6888; access code 77481736.

FORWARD-LOOKING STATEMENTS

This release includes certain “forward-looking” statements as defined by the Securities and Exchange Commission. Statements in this press release regarding the Company’s business which are not historical facts represent “forward-looking” statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K for the most recently ended fiscal year. The Company assumes no responsibility to update the forward-looking statements in this release as a result of new information, future events, or otherwise.

ABOUT RICHARDSON ELECTRONICS, LTD.

Richardson Electronics, Ltd. is a global provider of “Engineered Solutions,” serving the RF, Wireless & Power Conversion; Electron Device; and Display Systems markets. The Company delivers engineered solutions for its customers’ needs through product manufacturing, systems integration, prototype design and manufacture, testing and logistics. Press announcements and other information about Richardson are available at www.rell.com.

Richardson Electronics common stock trades on the NASDAQ Global Market under the ticker symbol RELL.

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Richardson Electronics, Ltd.

Consolidated Statements of Operations

(in thousands, except per share amounts)

	Three Months Ended						Twelve Months Ended
	May 31, 2008			June 2, 2007			May 31, 2008			June 2, 2007
Statements of Operations
Net sales	$	155,093		$	146,246		$	568,409		$	557,291
Cost of sales		117,173			113,343			432,810			424,888
Gross profit		37,920			32,903			135,599			132,403
Selling, general, and administrative expenses		32,018			36,428			125,330			128,175
Impairment of goodwill		11,506			—			11,506			—
(Gain) loss on disposal of assets		97			(1,518	)		27			(3,616	)
Operating income (loss)		(5,701	)		(2,007	)		(1,264	)		7,844
Other (income) expense:
Interest expense		1,239			1,081			6,854			5,292
Investment income		(357	)		(107	)		(928	)		(992	)
Foreign exchange (gain) loss		(67	)		(1,359	)		1,485			(1,078	)
Retirement of long-term debt expenses		—			—			—			2,540
Other, net		(19	)		(102	)		14			(100	)
Total other (income) expense		796			(487	)		7,425			5,662
Income (loss) from continuing operations before income taxes		(6,497	)		(1,520	)		(8,689	)		2,182
Income tax provision (benefit)		(1,263	)		(1,022	)		(218	)		634
Income (loss) from continuing operations		(5,234	)		(498	)		(8,471	)		1,548
Income from discontinued operations, net of tax		—			40,157			45			39,131
Net income (loss)	$	(5,234	)	$	39,659		$	(8,426	)	$	40,679
Net income (loss) per common share – basic:
Income (loss) from continuing operations	$	(0.30	)	$	(0.03	)	$	(0.48	)	$	0.09
Income from discontinued operations		0.00			2.32			0.00			2.27
Net income (loss) per common share – basic	$	(0.30	)	$	2.29		$	(0.48	)	$	2.36
Net income (loss) per common share – diluted:
Income (loss) from continuing operations	$	(0.30	)	$	(0.03	)	$	(0.48	)	$	0.09
Income from discontinued operations		0.00			2.32			0.00			2.21
Net income (loss) per common share – diluted	$	(0.30	)	$	2.29		$	(0.48	)	$	2.30
Weighted average number of shares:
Common shares – basic		14,806			14,588			14,794			14,517
Class B common shares – basic		3,048			3,048			3,048			3,048
Common shares – diluted (1)		14,806			14,588			14,794			17,667
Class B common shares – diluted		3,048			3,048			3,048			3,048
Dividends per common share	$	0.020		$	0.040		$	0.120		$	0.160
Dividends per Class B common share	$	0.018		$	0.036		$	0.108		$	0.144

(1) Total common stock equivalents and Class B common stock for the three and twelve months ended May 31, 2008, are excluded from the diluted earnings per share calculation because their impact would be anti-dilutive.

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Richardson Electronics, Ltd.

Consolidated Balance Sheets

(in thousands, except per share amounts)

	May 31, 2008			June 2, 2007
Assets
Current assets:
Cash and cash equivalents	$	40,042		$	17,436
Restricted cash		—			61,899
Receivables, less allowance of $1,635 and $1,574		109,520			105,709
Inventories		93,858			110,174
Prepaid expenses		4,300			5,129
Deferred income taxes		2,121			2,131
Current assets of discontinued operations held for sale		—			242
Total current assets		249,841			302,720
Non-current assets:
Property, plant and equipment, net		28,635			29,278
Goodwill		1,483			11,611
Other intangible assets, net		758			1,581
Non-current deferred income taxes		3,875			389
Assets held for sale		105			1,429
Other non-current assets		1,538			2,058
Non-current assets of discontinued operations held for sale		—			5
Total non-current assets		36,394			46,351
Total assets	$	286,235		$	349,071
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	58,860		$	55,530
Accrued liabilities		21,818			31,330
Current portion of long-term debt		—			65,711
Current liabilities of discontinued operations held for sale		—			2,737
Total current liabilities		80,678			155,308
Non-current liabilities:
Long-term debt, less current portion		55,683			55,683
Long-term income tax liabilities		6,768			—
Other non-current liabilities		1,676			1,535
Total non-current liabilities		64,127			57,218
Total liabilities		144,805			212,526
Commitment and contingencies		—			—
Stockholders’ equity
Common stock, $0.05 par value; issued 15,929 shares at May 31, 2008, and 15,920 shares at June 2, 2007		797			796
Class B common stock, convertible, $0.05 par value; issued 3,048 shares at May 31, 2008, and 3,048 share at June 2, 2007		152			152
Preferred stock, $1.00 par value, no shares issued		—			—
Additional paid-in-capital		119,735			118,880
Common stock in treasury, at cost, 1,065 shares at May 31, 2008, and 1,179 shares at June 2, 2007		(6,310	)		(6,989	)
Retained earnings		11,098			21,631
Accumulated other comprehensive income		15,958			2,075
Total stockholders’ equity		141,430			136,545
Total liabilities and stockholders’ equity	$	286,235		$	349,071

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Richardson Electronics, Ltd.

Consolidated Statements of Cash Flows

(in thousands)

	Three Months Ended						Twelve Months Ended
	May 31, 2008			June 2, 2007			May 31, 2008			June 2, 2007
Operating activities:
Net income (loss)	$	(5,234	)	$	39,659		$	(8,426	)	$	40,679
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:
Depreciation and amortization		1,317			1,471			5,257			6,126
Impairment of goodwill		11,506			—			11,506			—
Gain on disposal of segment of business		—			(41,565	)		—			(41,565	)
(Gain) loss on disposal of assets		97			(1,484	)		27			(3,582	)
Retirement of long-term debt expenses		—			—			—			2,540
Write-off of deferred financing costs		—			—			643			62
Stock compensation expense		164			179			687			953
Deferred income taxes		(2,096	)		(108	)		(3,026	)		309
Accounts receivable		(4,266	)		(8,651	)		3,535			(3,635	)
Inventories		14,717			4,961			23,403			(9,836	)
Accounts payable		663			4,330			2,344			4,871
Accrued liabilities		1,662			4,824			(6,928	)		(2,234	)
Other liabilities		221			(235	)		91			371
Other		907			(3,552	)		(1,197	)		(4,019	)
Net cash provided by (used in) operating activities		19,658			(171	)		27,916			(8,960	)
Investing activities:
Capital expenditures		(271	)		(1,685	)		(4,464	)		(6,401	)
Proceeds from sale of assets		130			1,984			1,137			5,093
Contingent purchase price consideration		(96	)		—			(256	)		—
Proceeds from sale of segment of business, net of transaction expenses paid					78,114						78,114
Gain on sale of investments		(253	)		(39	)		(124	)		(709	)
Proceeds from sales of available-for-sale securities		362			92			707			3,774
Purchases of available-for-sale securities		(8	)		(92	)		(196	)		(274	)
Net cash provided by (used in) investing activities		(136	)		78,374			(3,196	)		79,597
Financing activities:
Proceeds from borrowings		34,500			56,550			197,700			258,561
Payments on debt		(44,500	)		(68,769	)		(263,340	)		(250,419	)
Restricted cash		—			(61,899	)		61,899			(61,899	)
Proceeds from issuance of common stock		—			1,193			69			1,948
Cash dividends		(351	)		(693	)		(2,107	)		(2,764	)
Payments on retirement of long-term debt		—			—			—			(15,915	)
Other		—			—			(95	)		(674	)
Net cash used in financing activities		(10,351	)		(73,618	)		(5,874	)		(71,162	)
Effect of exchange rate changes on cash and cash equivalents		329			488			3,760			951
Increase in cash and cash equivalents		9,500			5,073			22,606			426
Cash and cash equivalents at beginning of period		30,542			12,363			17,436			17,010
Cash and cash equivalents at end of period	$	40,042		$	17,436		$	40,042		$	17,436

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Richardson Electronics, Ltd.

Net Sales and Gross Profit

For the Fourth Quarter and Twelve Months of Fiscal 2008 and 2007

(in thousands)

By Business Unit:

	Net Sales						Gross Profit (1)
Fourth Quarter	FY 2008		FY 2007		% Change		FY 2008			GP% of Sales		FY 2007			GP% of Sales
RF, Wireless & Power Division	$	102,996	$	99,369	3.7	%	$	22,866		22.2	%	$	21,907		22.0	%
Electron Device Group		26,482		26,639	(0.6	)%		8,470		32.0	%		8,970		33.7	%
Display Systems Group		24,800		19,310	28.4	%		6,214		25.1	%		4,275		22.1	%
Corporate		815		928				370					(2,249	)
Total	$	155,093	$	146,246	6.0	%	$	37,920		24.4	%	$	32,903		22.5	%
Twelve Months	FY 2008		FY 2007		% Change		FY 2008			GP% of Sales		FY 2007			GP% of Sales
RF, Wireless & Power Division	$	376,203	$	369,936	1.7	%	$	85,323		22.7	%	$	84,338		22.8	%
Electron Device Group		103,256		101,191	2.0	%		32,941		31.9	%		32,942		32.6	%
Display Systems Group		84,671		82,111	3.1	%		17,848		21.1	%		19,145		23.3	%
Corporate		4,279		4,053				(513	)				(4,022	)
Total	$	568,409	$	557,291	2.0	%	$	135,599		23.9	%	$	132,403		23.8	%

Note: Corporate consists of freight and other non-specific net sales.

(1) Included in Gross Profit for fiscal 2008 are inventory write-downs of $0.9 million in the RF, Wireless & Power Division and $1.9 million in the Display Systems Group.

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