Overall Sales Growth
Total sales increased to $54.6 million, up from $53.7 million in Q1 of the previous year, marking a 1.6% increase. Excluding the Healthcare segment, net sales increased by 6.8%.
PMT Segment Growth
PMT sales, excluding Healthcare, grew by 10.5% year-over-year, driven by increased demand from semiconductor wafer fab customers and legacy power grid tube product lines.
Canvas Segment Performance
Canvas sales increased by 8.3%, benefiting from improved market conditions in Europe.
Positive Operating Cash Flow
The company generated positive operating cash flow for the sixth consecutive quarter, with a strong cash position of $35.7 million.
Wind Energy Segment Growth
Year-over-year growth in the wind segment was 86.1%, supported by new customers, global expansion, and new products.
Improved Gross Margin and Operating Income
Consolidated gross margin increased to 31% from 30.6% in 2025, while operating income rose to $1 million from $300,000 in the prior year's first quarter.
Strategic Initiatives and Partnerships
Key technology partners added, including Kiba, Goshen, and Wulong, to boost wind power management and energy storage capabilities.