Solitron Devices FY2024 Q4 net sales +167% to $4M; net income $5.8M ($2.78/share) with $2.24M bargain gain

SOLITRON DEVICES INC

Net sales Q4 $4.0M (up 167% YoY); full year $12.76M (up 99% YoY); includes $1.52M from MEI acquisition.
Net income Q4 $5.8M ($2.78/share) vs $0.23M ($0.11) YoY; includes $2.24M bargain purchase gain and $3.02M tax benefit.
Backlog $11.21M at Q4 end (+47% YoY); net bookings Q4 $2.23M (-18% YoY) but full year $14.12M (+47% YoY).
Adjusted Q4 operating income $766K excluding acquisition costs; reported operating income $368K.
Guidance: Fiscal 2025 Q1 revenue expected ~$3.82M; Q1 bookings ~$2.04M.

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