Strong Revenue Growth
Sales for the first quarter of 2025 reached $152.2 million, reflecting an 18.9% increase from the first quarter of 2024.
Aerospace and Defense Segment Performance
Aerospace defense end markets accounted for 38% of global sales, making it the largest segment, with contributions from AI ($4.6 million) and space ($2.3 million) showing double-digit growth.
Gross Margin Improvement
Gross margin improved to 38.6% in Q1 2025 from 37.5% in Q1 2024, driven by the magnetic and connectivity segments.
Magnetic Solutions Growth
Magnetic Solutions Group recorded sales of $18.5 million, representing a 36.1% increase compared to the first quarter of 2024, with an 870 basis point improvement in gross margin.
Connectivity Solutions Margin Expansion
The gross margin for connectivity solutions improved by 180 basis points to 37.9% in Q1 2025.