Solitron Devices Reports Growth in Q2 Fiscal 2026 Results
Solitron Devices Inc. Fiscal 2026 Second Quarter Insights
Solitron Devices, Inc. (OTC: SODI) recently disclosed its second quarter financial results for fiscal 2026, highlighting steady growth and a strong outlook for the business. The company, known for its cutting-edge electronic component solutions, showcases an impressive growth trajectory that signals its robust market presence.
Fiscal Highlights of the Second Quarter
During this quarter, Solitron Devices experienced a remarkable 11% increase in net sales, totaling approximately $3.99 million compared to $3.58 million during the same period last year. This upswing indicates a solid recovery driven by heightened demand for the company's products.
Booking and Backlog Growth
Net bookings soared by a staggering 147%, reaching $4.32 million, reflecting the company’s ability to secure significant contracts and orders. The backlog surged to $18.64 million, a 146% increase compared to $7.57 million at the same time the previous year. This suggests a promising pipeline for future sales and production, providing an optimistic view of Solitron's continuing expansion.
Revenue Trends and Financial Performance
While revenue has been on an upward trend, it climbed from $2.70 million in the fiscal 2026 first quarter to $3.99 million in the second quarter. The company anticipates that sales will stabilize and grow in the upcoming quarters, although a noted decrease in net income was seen. The net loss for the quarter stood at $0.23 million or $0.11 per share compared to a modest gain of $0.02 million or $0.01 per share in the previous fiscal year.
Factors Affecting Profitability
The decreased profitability can be attributed in part to a one-time stock grant to management totaling $225,000, alongside an accrual of $105,000 related to stock options. External factors such as tariffs also presented challenges impacting gross margins.
Product Development and Future Prospects
Amid increasing interest in new technologies, Solitron continues to explore opportunities in silicon carbide and other semiconductor developments. Various prototypes have been created for testing by potential customers, which could pave the way for new revenue streams.
Market Expectations Going Forward
The company expresses optimism regarding upcoming orders, especially with expectations for the AMRAAM Lot 39 order to be received in the next quarter. This projected influx may exceed last year's order quantities, suggesting a positive market reception and advancements in pricing due to prior multi-year agreements ending.
About Solitron Devices, Inc.
Solitron Devices, Inc. is a leading provider of solid state semiconductor components, focused primarily on military and aerospace applications. The company offers a diverse range of products, including MOS transistors and specialized semiconductor solutions tailored for contracts with the U.S. government.
Recently, Solitron completed the acquisition of Micro Engineering Inc. (MEI), a firm well-regarded for addressing manufacturing challenges while maintaining efficiency. This strategic move is expected to enhance Solitron's capability to meet unique customer needs efficiently.
Contact Information
If you have any inquiries regarding Solitron or its fiscal results, you can reach out to Tim Eriksen, the Chief Executive Officer, at (561) 848-4311 or via email at corporate@solitrondevices.com.
Frequently Asked Questions
What were the net sales for Solitron Devices in Q2 of 2026?
Net sales reached approximately $3.99 million in Q2 of fiscal 2026.
How much did net bookings increase in the second quarter?
Net bookings increased by 147%, totaling $4.32 million during Q2.
What factors impacted Solitron's net income?
The net loss of $0.23 million was influenced by a one-time stock grant and external economic factors like tariffs.
What is the company’s outlook for future sales?
Solitron expects sales to grow and stabilize in the upcoming fiscal quarters, with a promising backlog of orders.
Who can I contact for more information about Solitron Devices?
You can contact Tim Eriksen at (561) 848-4311 or email corporate@solitrondevices.com for further information.
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