Financial Data and Key Metrics Changes - Net sales for 2025 totaled $118.4 million, a 7.6% decrease from $128.1 million in 2024 [10] - Net sales for Q4 2025 were $3.3 million, a 5.9% increase from $28.6 million in Q4 2024 [10] - Gross margin percentage increased to 15.2% in 2025 from 13.1% in 2024 [13] - Adjusted EBITDA for Q4 2025 was $1.2 million, compared to a loss of $889,000 in Q4 2024 [19] - Cash totaled $1.7 million as of December 31, 2025, up from $916,000 a year earlier [15] Business Line Data and Key Metrics Changes - Medical imaging net sales increased by $2.5 million or 6.7% in 2025 compared to 2024 [10] - Medical device net sales decreased by $184,000 in Q4 2025 compared to Q4 2024 [11] - Aerospace and Defense net sales decreased by $5 million in 2025 but increased by $1.1 million in Q4 2025 compared to the same quarter in 2024 [12] - Industrial net sales decreased by $4.6 million or 12.9% for the full year and by $607,000 or 7.7% in Q4 2025 compared to Q4 2024 [12][13] Market Data and Key Metrics Changes - Customer backlog increased to $77.3 million at year-end 2025, a 17.4% increase from $65.9 million at the end of 2024 [4][13] - The company is seeing strong quoting activity as customers evaluate nearshore manufacturing strategies [7] Company Strategy and Development Direction - The company is focused on strengthening its balance sheet and reducing inventory investments in 2026 [20] - There is an emphasis on driving efficiencies in manufacturing processes and improving free cash flow [21] - The company is investing in new technologies and regulatory capabilities to leverage future growth [27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about positioning in the nearshoring landscape and the benefits of increased backlog [27] - The company is monitoring trade policies and geopolitical uncertainties closely [8] - Management believes they have overcome revenue and earnings headwinds and are optimistic about 2026 [20] Other Important Information - The company entered into new agreements for a $2.2 million term note and a $15 million asset-backed line of credit [6] - The restructuring activities in 2024 and early 2025 are yielding positive operational and financial results [27] Q&A Session Summary - No questions were asked during the Q&A session, and the call concluded without any inquiries from participants [29][30]

Group 1 - The Nasdaq Composite approached a new record high, driven by strong earnings reports indicating the ongoing boom in AI infrastructure [2][3] - The index opened at 23,986, its highest since early November, recovering from previous concerns about an AI bubble that affected tech stocks [3][4] - Investors are focusing on the booming businesses of companies supplying AI technology, setting aside previous worries about overspending [3][4] Group 2 - A shortage of memory and data storage technology has positively impacted earnings and stock prices of chip makers like Micron and storage device manufacturers such as Sandisk and Western Digital [5] - Taiwan Semiconductor Manufacturing reported record quarterly revenue and earnings, leading to increased infrastructure investments to meet demand, which boosted chip stocks [6] - ASML Holdings reported record quarterly orders, further supporting the rally in chip manufacturing equipment suppliers [6] Group 3 - Corning's shares surged 16% after securing a $6 billion deal with Meta for fiber optic technology, showcasing the broader benefits of the AI boom beyond just chipmakers [7] - GE Vernova raised its sales outlook for 2026 and 2028 following a surge in orders, while Amphenol, despite strong results, was the worst performer in the S&P 500 [9] - Both companies had significant stock price increases over the past year, with Amphenol up 140% and GE Vernova rising more than 90% [9] Group 4 - Upcoming earnings reports from Microsoft and Meta are critical, as both companies plan to significantly increase their AI infrastructure investments [10][11] - Investors are looking for confirmation of capital expenditures to ensure that massive investments in AI are yielding positive results [10][11]