Significant Debt Reduction
Borrowings have decreased by 45% from peak levels, amounting to a $116 million reduction, or 40% from the beginning of the fiscal year.
New Manufacturing Facility in Indianapolis
Announced the addition of a new manufacturing facility in Indianapolis focused on the medical industry, representing a strategic shift towards expanding medical CMO capabilities.
Cash Flow and Liquidity Improvement
Reported fifth consecutive quarter of positive cash flow, with cash flow from operating activities at $30.9 million and short-term liquidity available totaling $304.6 million.
Guidance Reiteration
Reiterated guidance for fiscal year 2025, expecting to be at the top end of the range for sales ($1.4 billion to $1.44 billion) and operating income margin.
Operational Efficiency
Adjusted selling and administrative expenses reduced by 24%, with improvements leading to a 50 basis point enhancement compared to the previous year.