Record-Breaking Revenue and Growth
Revenues increased 12% year-over-year to a Q1 record of $385 million. All three divisions achieved double-digit top line growth with the Security division increasing revenues by 13%.
Strong Service Revenue Growth
Service revenues grew 23% during the quarter, driven by recurring revenue from ongoing service and support.
Significant Backlog and Book-to-Bill Ratio
Q1 bookings were strong with a book-to-bill ratio of approximately 1.1, finishing with a record Q1 backlog approaching $1.9 billion.
Increased Fiscal Year Guidance
Guidance for fiscal '26 was raised for both revenues and adjusted earnings per share, with expected revenue growth of 6.5% to 9.0% and EPS growth of 9% to 12%.
Robust Security Division Performance
The Security division achieved 13% year-over-year growth with strong bookings, including approximately $75 million in nonintrusive inspection product and integration orders and more than $60 million in RF product orders.
Optoelectronics and Manufacturing Division Strength
Opto delivered record Q1 revenues, including intercompany sales, with a 12% year-over-year increase to $110 million.
Healthcare Division Recovery
Q1 sales in the Healthcare division rose 10% year-over-year, indicating progress in executing improvement plans.