Record Q2 Revenues and Growth
Revenues increased 12% year-over-year to a Q2 record of $420 million, with the Security division experiencing a 16% growth. The company also reported record Q2 non-GAAP adjusted earnings per share of $2.42.
Strong Backlog and Book-to-Bill Ratio
The company finished the quarter with a record backlog of more than $1.8 billion and a book-to-bill ratio of 1.2, indicating strong future revenue visibility.
Significant Orders in Security Division
The company received several significant orders, including a $27 million aviation security contract, an $81 million order for mobile cargo inspection systems, and a $32 million order for border security applications.
Optoelectronics Division Growth
Optoelectronics achieved a quarterly record with $101 million in revenues, driven by significant orders from healthcare OEMs and the relocation of manufacturing away from China.
Improved Operating Cash Flow
The company generated $53 million in operating cash flow, a $76 million improvement over the same quarter last year, driven by strong profits and improved working capital metrics.
Increased Fiscal 2025 Guidance
The company raised its fiscal 2025 revenue guidance to $1.685 billion to $1.710 billion and non-GAAP adjusted EPS to $9.10 to $9.40, representing 11.9% to 15.6% growth.