---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-008151"
form_type: "8-K"
ticker: "SODI"
cik: "0000091668"
company_name: "SOLITRON DEVICES INC"
filed_at: "2023-06-20T23:59:59+00:00"
generated_at: "2026-06-13T22:10:07.241472+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "medium"
source: SEC EDGAR
---

# Solitron reports 48% drop in FY23 revenue; signs term sheet for medical components acquisition

## Summary
- 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.

## SEC filing metadata
- accession: 0001654954-23-008151
- form_type: 8-K
- ticker: SODI
- cik: 0000091668
- company_name: SOLITRON DEVICES INC
- filed_at: 2023-06-20T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: medium
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/91668/000165495423008151/0001654954-23-008151-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/91668/000165495423008151/sodi_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-008151
- JSON: https://secwatch.observer/filing/0001654954-23-008151.json
- Plain text: https://secwatch.observer/filing/0001654954-23-008151.txt

## Key facts
- Earnings Releases
  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
  source text: Preliminary net sales figures for the first quarter of fiscal 2024 are $2.0 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/91668/000165495423008151/0001654954-23-008151-index.htm
- Earnings Releases
  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
  source text: PRELIMINARY FISCAL 2024 FIRST QUARTER HIGHLIGHTS
  evidence_url: https://www.sec.gov/Archives/edgar/data/91668/000165495423008151/0001654954-23-008151-index.htm
- Earnings Releases
  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
  source text: We expect to report approximately $0.2 million of combined realized and unrealized losses for the quarter.
  evidence_url: https://www.sec.gov/Archives/edgar/data/91668/000165495423008151/0001654954-23-008151-index.htm
- Earnings Releases
  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
  source text: preliminary unaudited fiscal 2023 results, preliminary fiscal 2024 first quarter results and the signing of a term sheet for a potential acquisition.
  evidence_url: https://www.sec.gov/Archives/edgar/data/91668/000165495423008151/0001654954-23-008151-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/91668/000165495423008151/0001654954-23-008151-index.htm
- Earnings Releases
  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
  source text: PRELIMINARY FISCAL 2023 FOURTH QUARTER HIGHLIGHTS
  evidence_url: https://www.sec.gov/Archives/edgar/data/91668/000165495423008151/0001654954-23-008151-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.