Strong Revenue and Growth
Revenue grew 37% with 5% organic growth. Adjusted operating income increased 35%, and adjusted EPS grew 27%. The medical business grew 46%.
Significant Customer Growth
Revenue from two largest customers, Intuitive Surgical and Stryker, grew 10% and 567%, respectively.
Strategic Acquisitions
Closed two additional acquisitions: UNIPEC, enhancing synergies with Welch, and Techno Plastics Industries, enhancing thermoplastic molding capabilities.
Cash Flow and Debt Management
Generated $25.3 million in cash from operations, paid down approximately $19 million in debt, ending the quarter with a leverage ratio well below 1.5x.