secwatch.observer — SEC 8-K summary
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Issuer:     SOLITRON DEVICES INC (SODI)
CIK:        0000091668
Form:       8-K
Filed at:   2022-01-14T23:59:59+00:00
Accession:  0001654954-22-000486
Event type: earnings
Sentiment:  positive
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Solitron Devices Q3 net income $0.49M vs loss; nine-month sales +30% to $10.31M
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- Net sales $2.47M (+7% YoY); net income $0.49M ($0.24/diluted share) vs loss of ($0.03M) in prior-year quarter.
- Nine-month net sales $10.31M (+30% YoY); net income $3.97M ($1.90/share) vs $0.98M, up 306%.
- Q4 FY2022 sales expected ~$1.5M due to planned facility relocation; production to outpace sales, inventory build expected.
- PPP loan forgiveness of $812k contributed to nine-month other income; scrap income of $357k also recognized.
- Management expects $1.0M annual cost savings post-relocation; evaluating potential acquisitions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/91668/000165495422000486/0001654954-22-000486-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/91668/000165495422000486/sodi_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-22-000486

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