Sequential Improvement in Earnings
The third quarter earnings were solid and came in as expected, with sequential improvement from the second quarter.
SG&A Expense Reduction
SG&A expenses were reduced by 7% or $3.9 million, with improvements realized across all three segments.
Increase in Consolidated Revenues
Third quarter consolidated revenues were $138 million, up 7% relative to the year-earlier period.
Strong Pipeline and Order Backlog
Despite challenges, the Branded Products segment showed an increase in combined second and third quarter revenue compared to last year, supported by a stronger pipeline and order backlog.
Healthy Balance Sheet
Maintained a strong cash and cash equivalents balance of $17 million, with over $100 million of liquidity available for growth plans.
Price Increases to Offset Tariffs
Successfully implemented price increases in the healthcare segment starting in July and August to largely offset tariff impacts.