8-K
filed June 20, 2023, 7:59 PM ET
ticker SODI
CIK 0000091668
earnings
confidence medium
sentiment neutral
materiality 0.65
Solitron reports 48% drop in FY23 revenue; signs term sheet for medical components acquisition
SOLITRON DEVICES INC
- Fiscal 2023 net sales $6.41M, down 48% YoY; net income $0.83M ($0.40/share) vs $3.51M prior year.
- Q4 net income $0.23M ($0.11/share) vs loss of $0.46M in prior Q4; net sales $1.5M down 24%.
- Signed non-binding term sheet for acquisition of medical electronics company; initial ~$3M cash at close, up to $450K earnouts over 3 years.
- Backlog grew 71% to $7.63M at FY23 end; full-year bookings up 24% to $9.57M.
- Target had 2022 revenue $5.9M; single customer represents 90% of revenue; due diligence estimated ~75 days.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
SOLITRON DEVICES INC reported fiscal 2024 first quarter (ended May 31, 2023) results: net income approximately $0.2 million of combined realized and unrealized losses.
- Period
- fiscal 2024 first quarter (ended May 31, 2023)
- Net income
- approximately $0.2 million of combined realized and unrealized losses
- Result
- preliminary results
Exact text from the filing
Preliminary net sales figures for the first quarter of fiscal 2024 are $2.0 million.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
SOLITRON DEVICES INC reported fiscal 2024 first quarter (ended May 31, 2023) results: net income approximately $0.2 million of combined realized and unrealized losses.
- Period
- fiscal 2024 first quarter (ended May 31, 2023)
- Net income
- approximately $0.2 million of combined realized and unrealized losses
- Result
- preliminary results
Exact text from the filing
PRELIMINARY FISCAL 2024 FIRST QUARTER HIGHLIGHTS
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
SOLITRON DEVICES INC reported fiscal 2024 first quarter (ended May 31, 2023) results: net income approximately $0.2 million of combined realized and unrealized losses.
- Period
- fiscal 2024 first quarter (ended May 31, 2023)
- Net income
- approximately $0.2 million of combined realized and unrealized losses
- Result
- preliminary results
Exact text from the filing
We expect to report approximately $0.2 million of combined realized and unrealized losses for the quarter.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.85
SOLITRON DEVICES INC reported preliminary financial results for fiscal 2023 fourth quarter ended February 28, 2023.
- Period
- fiscal 2023 fourth quarter ended February 28, 2023
- Result
- preliminary results
Exact text from the filing
preliminary unaudited fiscal 2023 results, preliminary fiscal 2024 first quarter results and the signing of a term sheet for a potential acquisition.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.85
SOLITRON DEVICES INC reported preliminary financial results for fiscal 2023 fourth quarter ended February 28, 2023.
- Period
- fiscal 2023 fourth quarter ended February 28, 2023
- Result
- preliminary results
Exact text from the filing
Net sales is expected to decrease 24% to approximately $1.50 million in the fiscal 2023 fourth quarter versus $1.98 million in the fiscal 2022 fourth quarter.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.85
SOLITRON DEVICES INC reported preliminary financial results for fiscal 2023 fourth quarter ended February 28, 2023.
- Period
- fiscal 2023 fourth quarter ended February 28, 2023
- Result
- preliminary results
Exact text from the filing
PRELIMINARY FISCAL 2023 FOURTH QUARTER HIGHLIGHTS
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.