Financial Data and Key Metrics Changes - Adjusted earnings per share was $0.30, an increase of 11% year over year [8] - Adjusted EBITDA was $13.6 million for an adjusted EBITDA margin of 14.6%, reflecting a slight increase from last year [8][9] - Year-to-date sales increased 5.3% to $280.5 million, driven by strength in defense and aerospace [9] Business Line Data and Key Metrics Changes - Electron segment sales were $50 million, up 2.5% year over year, with adjusted EBITDA of $9.9 million at a 19.8% margin, up 160 basis points from last year [10] - Gas cylinders segment sales were $42.9 million, up slightly year over year, with adjusted EBITDA of $3.7 million and margins holding near 9% [12] Market Data and Key Metrics Changes - Continued strength in defense and aerospace markets, partially offset by softer demand in clean energy and automotive sectors [8][12] - SCBA volumes were higher in the quarter, and aerospace inflatables increased significantly compared to both the prior year and sequentially [5] Company Strategy and Development Direction - The company is shifting its focus toward higher value markets, particularly in defense and aerospace, to enhance profitability [4][17] - Plans to establish a powders center of excellence in Saxenburg, Pennsylvania, to improve throughput and service for defense and specialty industrial customers [7][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the outlook, raising full-year guidance for adjusted EPS to a range of $1.40 to $1.80 [13] - The company continues to see some softness in automotive and alternative fuels, which is reflected in the guidance ranges [13][14] Other Important Information - The sale of the graphic arts business was completed at the beginning of the quarter, allowing for a more concentrated allocation of resources toward higher margin opportunities [5] - Cash generation was strong, providing approximately $10 million of free cash flow, reducing net debt to $37.3 million [8] Q&A Session Summary Question: Strength in Electron despite challenging comparisons - Management noted strong demand in aerospace and defense, with increased orders and a favorable mix of higher value products contributing to margin expansion [21] Question: Pricing and costs impact on margins - Management indicated that the margin improvement in Electron was mainly due to a favorable product mix, with pricing improvements primarily in the gas cylinders segment [22] Question: Opportunities in the commercial space market - Management highlighted the ability to repurpose large cylinder capacity to the space exploration market, which has shown strong order visibility for Q4 [23] Question: Details on cost savings from centers of excellence - Management provided insights on the powders center of excellence, which is expected to deliver $2 million in annual savings, with a total of $6 million in savings anticipated from both the powders and Riverside initiatives [24][25] Question: Growth prospects for 2026 - Management stated it is too early to provide guidance for 2026 but indicated potential areas for growth [27]