Financial Data and Key Metrics Changes - For the full year 2025, revenue was $249 million, down 9% year-over-year from $272.8 million in 2024 [5][11] - Adjusted EBITDA was $19.4 million, representing a 7.8% margin compared to $26.3 million or 9.6% margin last year [5] - In Q4 2025, revenue increased 4% sequentially from Q3, rising from $55.3 million to $57.5 million [6] - Net income from continuing operations for Q4 2025 was $1.2 million or $0.19 per diluted share, compared to $1.6 million or $0.26 per diluted share for the same period in 2024 [17] Business Line Data and Key Metrics Changes - Net sales in Q4 2025 decreased 13.7% to $57.5 million from $66.7 million in Q4 2024, primarily due to lower shipments of returnable transport packaging products and truck mirror assemblies [11] - For the full year 2025, net sales decreased 9% to $249 million from $272.8 million in 2024, also due to lower shipments of returnable transport packaging products and truck mirror assemblies [11] Market Data and Key Metrics Changes - The backlog as of January 3, 2026, was $81.1 million, a decrease of 10% or $8 million from $89.1 million as of December 28, 2024, driven by lower orders for returnable transport packaging products [12] - The Asia business grew 25% year-over-year following the deployment of dedicated sales resources in the region [8] Company Strategy and Development Direction - The company made decisive structural changes to its cost base, portfolio, and operating model, resulting in approximately $4 million in annual savings from restructuring and footprint optimization initiatives [7] - The company divested the underperforming Centralia Mold division to concentrate on high conviction core businesses [7] - M&A remains an important component of the long-term value creation strategy, with a growing pipeline of potential transactions [19] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about entering a more constructive demand environment, with leading indicators pointing in a more favorable direction than a year ago [19] - The company emphasized the importance of maintaining discipline in its outlook and execution [19] Other Important Information - The company returned $2.7 million to shareholders through dividends and repurchased approximately 153,000 shares, or about $3.7 million of common stock [18] - In 2025, the company welcomed Chan Galbato to its board and announced that Charlie Henry and Mike Marty would not stand for re-election, aiming to improve agility and decision-making effectiveness [20] Q&A Session Summary - No questions were posed during the Q&A session [22]