Solitron Q3 sales surge 608% to $4.14M; swings to net income of $0.04 per share

SOLITRON DEVICES INC

Net sales of $4.14M vs $0.58M year ago; net income $86K ($0.04 EPS) vs loss of $492K.
Backlog rose 102% to $12.99M; net bookings up 115% to $4.84M.
Results include Micro Engineering acquisition closed Sep 1, 2023; MEI contributed $1.41M in sales.
Adjusted operating income of $933K excludes $494K inventory fair value adjustment and $200K acquisition costs.
Company cites replenishment of Ukraine/stockpile programs as key demand drivers.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SOLITRON DEVICES INC reported fiscal 2024 third quarter results: revenue $4.14 million, net income $0.09 million, EPS $0.04 per share.

Period: fiscal 2024 third quarter
Revenue: $4.14 million
Net income: $0.09 million
EPS: $0.04 per share
Result: preliminary results

Exact text from the filing

or the “Company”) is pleased to announce fiscal 2024 third quarter results. PRELIMINARY FISCAL 2024 THIRD QUARTER HIGHLIGHTS ➢ Net sales increased 608% to approximately $4.14 million in the fiscal 2024 third quarter versus $0.58 million in the fiscal 2023 third quarter. ➢ Net bookings increased 115% to $4.84 million in the fiscal 2024 third quarter versus

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Source: SEC EDGAR

accession 0001654954-24-000772

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