Sequential Growth Across Key Metrics
Revenue increased 9% sequentially, gross margin expanded 70 basis points to 32.2%, operating margin rose 130 basis points to 6.6%, and adjusted EPS increased nearly 50% from Q4 to $0.46 per share.
Strong Order Momentum
Total orders increased 17% sequentially and 13% year-over-year, resulting in a healthy book-to-bill ratio of 1.04x.
Aerospace and Defense Sector Growth
The aerospace and defense sector saw a 25% increase year-over-year, reflecting timing of key defense and space program deliverables.
Improved Cash Flow and Debt Reduction
Operating cash flow was $13.9 million, up 52% year-over-year, and net debt decreased by $13.6 million, improving the leverage ratio to 2.91x.