Solid Revenue Growth
Third quarter revenue of $79.7 million grew 6.1% from the second quarter and was up 5.3% from the prior year.
Strong Performance in Sensors Segment
Third quarter revenue for the Sensors segment increased 19.1% sequentially, with bookings reaching the highest level in 12 quarters, resulting in a book-to-bill of 1.07.
Progress in Humanoid Robotics
VPG received $3.6 million in orders year-to-date related to humanoid projects, with optimism for long-term potential in this emerging market.
Record Gross Margin in Weighing Solutions
Weighing Solutions segment achieved a record adjusted gross margin of 40.3%.
Cash Flow and Debt Reduction
Adjusted free cash flow increased to $7.4 million for the third quarter. Net cash position is $65.8 million after reducing long-term debt by $11 million.