Record Revenue and Earnings Per Share
Revenue reached $672 million, up 11% year-over-year, while earnings per share grew 25% to $1.89, both surpassing the high end of guidance.
Strong Order Activity
Orders increased 8% sequentially and 16% year-over-year, with a book-to-bill ratio of 1.05 compared to 1.0 in the prior year period.
Margin Expansion
Gross margins increased 70 basis points year-over-year to 38.9% and adjusted EBITDA margins expanded 50 basis points to 17%.
Successful Data Center and Automotive Wins
Secured a multi-site solutions award with a leading hyperscale data center customer and a global specification with a major U.S. automotive manufacturer, representing significant growth opportunities.
Healthy Balance Sheet and Share Buybacks
Free cash flow at $216 million, 1 million shares repurchased for $100 million, and a strong cash position of $301 million.