Record-Breaking Revenue and Growth
Net sales increased 10.9% to a first quarter record of $188.4 million. Gross profit increased 16.3% to a first quarter record of $33.9 million. Operating income increased to $20.1 million from an operating loss of $6.5 million in the prior year.
Cash Flow and Debt Reduction
Generated $10 million of cash from operating activities and reduced net bank debt by $7 million to $74.4 million. Liquidity remains strong with total cash and availability of approximately $147 million.
Expansion in Mexican Market
Sales in the Mexican market are growing nicely, complementing the strategic and operational distribution footprint.
Improved Gross Margin
Gross margin for the fiscal 2026 first quarter was 18% compared with 17.2% a year earlier. This improvement was despite headwinds related to tariffs.
Guidance Increase
The company increased its fiscal 2026 sales guidance to between $800 million and $820 million, representing between 5.6% and 8.3% year-over-year growth.