Record Adjusted EBITDA Growth
Adjusted EBITDA increased by over 25% year-over-year, with a margin expansion of 200 basis points, marking the highest margin since 2016.
Strong Performance in Aerospace and Defense
Revenue in the aerospace and defense industry increased by 13% on a full-year basis to $87 million, contributing to overall profitability.
Effective Cost Management
SG&A expenses decreased by 6.2% year-over-year, reaching the lowest level in over five years, contributing to significant operating leverage.
Successful Debt Reduction
The company reduced its bank debt by $20.1 million in Q4, lowering the leverage ratio to below 2.5x, the lowest since Q3 2018.
Positive Net Income and EPS
The company reported a net income of $19 million for 2024, with EPS reaching the highest level since 2016.