Company Reports Q2 Revenue of $221.3M, Beating Expectations
Reports Q 2revenue $221.3M, consensus $219.7M. CEO David Dunbar said, "We delivered strong top-line results and operating performance in the fiscal second quarter. Our sales increased 16.6% year-on-year to $221.3M driven by 7% contribution from new products and 28% contribution from sales into fast growth markets. We recorded 6.4% organic growth and book to bill of 1.04, led by our Electronics segment which grew 11.1% organically with book to bill of 1.08. We are well positioned to deliver mid-to-high single digit organic growth in the fiscal third quarter, primarily driven by new product launches, strong tailwinds in the electrical grid, defense and aviation end markets, and improving general industrial markets. Sales from fast growth markets totaled approximately $61M in the fiscal second quarter and are expected to exceed $270M in FY26. Adjusted operating margin expanded 30 basis points year-on-year to 19.0%. We paid down approximately $10M of debt in the fiscal second quarter, and our net leverage ratio was reduced to 2.3x."
