Increase in Net Sales
Fourth quarter net sales were $18.5 million, up 16% from the $15.9 million in the same quarter last year and up 10% sequentially from $16.8 million in the third quarter.
Improvement in Gross Profit Margin
Gross profit margin for the fourth quarter increased to 31.3%, a rise of 290 basis points from 28.4% year-over-year.
Reduction in Debt
Debt was reduced to just above $8 million, a significant improvement from $14.1 million at the end of last fiscal year.
First Operating Profit in Several Quarters
Delivered an operating profit of $96,000 for the fourth quarter, compared to an operating loss of $1.1 million in the same period last year.
Positive Adjusted EBITDA
Fourth quarter adjusted EBITDA was $908,000 compared to a negative adjusted EBITDA of $108,000 for the same quarter last year.
Strategic Transformation
Further transformed into a solutions provider with state-of-the-art small cell solutions and DAC thermal cooling systems, improving positioning within customer organizations.