Strong Consolidated Revenue Growth and Record Orders
Total revenue increased 16.6% year‑over‑year to $221.3M; organic growth was 6.4%. Quarterly orders were approximately $231M — the highest ever — and overall book‑to‑bill was 1.04.
Electronics Segment Outperformance
Electronics revenue reached a record $115.7M, up 20.6% YoY (organic +11.1%, acquisition +9.1%), with a book‑to‑bill of 1.08 and adjusted operating margin of 28.8% (up 120 bps YoY). Orders in Electronics were ~ $125M.
New Product and Fast‑Growth Market Momentum
New product sales grew ~13% to $16.3M; management raised expected FY‑2026 new product sales to $85M (from $78M) and plans to launch >15 new products in FY‑2026. Sales into fast‑growth markets were ~$61M (28% of total) and are expected to grow >45% YoY to exceed $270M.
Improving Margins and Earnings
Adjusted gross margin improved to 42.1% (up 120 bps YoY) and adjusted operating margin rose to 19.0% (up 30 bps YoY). Adjusted EPS increased 8.9% YoY to $2.08.
Stronger Cash Generation and Liquidity
Net cash provided by operations was $20.7M vs. $9.1M a year ago; free cash flow was $13.0M vs. $2.2M a year ago. Available liquidity was ~$213M and cash & equivalents totaled $97M.
Progress on Leverage Reduction and Shareholder Returns
Paid down approximately $10M of debt in the quarter, reducing net leverage ratio to 2.3x. Declared the 246th consecutive quarterly dividend of $0.34/share, a ~6.3% increase YoY.