Record Operating and Net Income Growth
The company reported a 46% increase in operating income and a 67% increase in net income, driven by a 9% increase in revenue.
Aerospace Segment Revenue Surge
Aerospace segment revenue increased by 20%, primarily due to a $1.2 million increase in aircraft modifications and a $1.1 million increase in special mission electronics.
Strong Backlog and Demand
The company has a robust backlog of $46.3 million, reflecting strong continuing demand for its products.
Operational Efficiency Improvements
Operating margin improved to 38% in the current quarter from 21% in the prior fiscal Q2 due to decreased costs and expenses.
Successful Cost Management
The company has focused on higher-margin businesses, shut down non-core operations, and reduced personnel costs to improve efficiency.