Solitron Q2 revenue up 39% to $3.58M but net income plunges to $17K on part scrapping issues

SOLITRON DEVICES INC

Net sales $3.58M (+39% YoY); net income $17K ($0.01 EPS) vs $200K ($0.10 EPS) prior year.
Net bookings $1.74M (-22% YoY); backlog $7.57M (-14% YoY).
Plating supplier issue forced scrapping of over 2,000 parts; withholding supplier payment.
MEI acquisition contributed $1.58M revenue; guidance: $7M-$12M bookings through year-end.
Adjusted operating income (ex-intangible amort) $103K vs reported $50K.

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