Fri, May 23, 8:22 PM (26 days ago)
**Solitron Devices, Inc. (SODI) 2025 Annual Report Summary** **Financial Performance:** - **Revenue:** $14,049,000 (up 10% from $12,757,000 in 2024) - **Net Income:** $815,000 (down from $5,801,000 in 2024 due to non-recurring items) - **Operating Income:** $998,000 (up from $934,000 in 2024) - **Gross Profit:** $3,992,000 (up from $3,807,000 in 2024) - **Earnings per Share:** $0.39 (down from $2.78 in 2024) **Strategic Overview:** - **Products:** Focus on military and aerospace markets with a variety of semiconductor components. - **Acquisitions:** Acquired Micro Engineering Inc. (MEI) in 2023, expanding product offerings. - **Market Position:** Strong customer base with significant orders from ConMed Linvatec and RTX Corporation. **Future Outlook:** - **Growth Plans:** Expanding commercial semiconductors and power modules, strategic alliances. - **Investments:** Potential investments in capital equipment and inventory. - **Tariffs:** Monitoring proposed tariffs that could impact material costs. **Risk Factors:** - **Customer Concentration:** High dependence on few major customers. - **Supply Chain:** Risks related to raw material supply and pricing. - **Regulatory:** Compliance with government contracts and regulations. - **Market Competition:** Intensifying competition in the semiconductor industry. **Financial Condition:** - **Cash and Cash Equivalents:** $4,099,000 (up from $2,217,000 in 2024). - **Working Capital:** $8,594,000 (up from $6,227,000 in 2024). - **Debt:** Mortgage loans with Bank of America, N.A. **Market Position Changes:** - **Customer Base:** Increased orders from existing customers and new customers from MEI acquisition. - **Backlog:** $18,108,000 (up from $11,207,000 in 2024). **Operating Expenses:** - **Selling, General & Administrative:** $2,994,000 (up from $2,873,000 in 2024). - **Cost of Sales:** $10,057,000 (up from $8,950,000 in 2024). **Earnings per Share:** $0.39 (down from $2.78 in 2024 due to non-recurring items). **Note:** Amounts are usually in thousands, 000s.