Diversified End Market Growth
Sales to diversified end markets increased 13% year-over-year, with strong performance in the medical, aerospace, defense, and industrial sectors.
Medical Market Progress
Medical sales were up 8% year-over-year, with therapeutic product demand increasing approximately 60% year-over-year and new customer wins in ultrasound applications.
Aerospace and Defense Expansion
Aerospace and Defense sales increased by 34% year-over-year, driven by the SyQwest acquisition and a healthy backlog of orders.
Industrial Market Improvement
Industrial sales increased 6% year-over-year, with bookings up 22%, and new business awards for EV charging stations in Europe.
Strong Cash Flow and Shareholder Returns
Generated $28 million in operating cash flow in the second quarter, repurchased 412,000 shares for $17 million, and returned $26 million to shareholders through dividends and buybacks.