Sequential Revenue Growth
There was a 4% sequential increase in revenue driven by strong increases in distributor and nondefense sales.
Nondefense Sales Increase
Nondefense sales increased by 21% year-over-year, offsetting a significant decline in defense sales.
New Product Launches
Three new products were launched, targeting high-value markets such as medical devices, electric vehicles, and robotics.
Advanced Manufacturing Investment Tax Credits
The company expects advanced manufacturing investment tax credits of between $700,000 and $1 million to offset tax law changes.
Strong Profitability Metrics
Operating margin was 58%, pretax margin was 65%, and net margin was 52%.
Increased Distributor Sales
Distributor sales increased nicely both sequentially and year-over-year.