Solitron Devices, Inc. announced their fiscal 2026 third quarter results with significant improvements in key financial metrics.
Net sales increased by 49% to $5.02 million compared to the same quarter in fiscal 2025.
Net bookings saw a remarkable 73% increase to $13.91 million in the fiscal 2026 third quarter.
Backlog surged by 124% to $27.48 million at the end of the fiscal 2026 third quarter.
Revenue Growth
Net sales increased by 49% year-over-year, showcasing strong revenue growth for Solitron Devices, Inc.
Bookings Surge
Net bookings rose by 73% to $13.91 million, indicating increased customer demand and confidence in the company's products.
Backlog Expansion
Backlog grew by 124% to $27.48 million, highlighting a robust pipeline of future orders for the company.
Net Income Increase
Net income for the quarter was $0.65 million, a substantial improvement from the previous year's $0.27 million.
Cost Analysis
Higher material and tariff costs impacted gross profit, while increased SG&A costs were driven by stock grants and options.
- The growth in net sales, bookings, and backlog demonstrates Solitron Devices, Inc.'s strong performance and market demand for its products.
- Despite increased revenue, gross profit was affected by higher costs, indicating the need for cost management strategies.
- The company's strategic focus on new product development and revenue diversification is expected to drive future growth and profitability.
Solitron Devices, Inc. has shown impressive financial improvements in the fiscal 2026 third quarter, reflecting strong sales performance and strategic initiatives. With a substantial increase in net sales, bookings, and backlog, the company is well-positioned for continued growth and success in the market.