Core Insights - Solitron Devices, Inc. reported a decline in revenue for the first quarter of fiscal 2026, consistent with the previous quarter, due to delays in order fulfillment. The company anticipates a sales increase by the end of the second quarter and a more stable revenue level in the third quarter [1][4] Financial Performance - Net sales decreased by 32% to approximately $2.70 million in the first quarter of fiscal 2026 compared to $3.97 million in the same quarter of fiscal 2025 [7] - Net bookings increased by 37% to $2.80 million in the first quarter of fiscal 2026, up from $2.04 million in the prior year [7] - The backlog rose by 94% to $18.26 million at the end of the first quarter of fiscal 2026, compared to $9.41 million at the end of the first quarter of fiscal 2025 [7] - The company reported a net loss of $0.34 million, or $0.16 per share, for the first quarter of fiscal 2026, compared to a net income of $0.59 million, or $0.28 per share, for the same quarter in fiscal 2025 [7][8] Investment Activities - The company invested $1.65 million for a 6.4% stake in CBE LLC, which acquired a 25% interest in CrossingBridge Advisors for $25.9 million. This investment is expected to yield a royalty of approximately 14.9% of CrossingBridge's revenue [3] Market Opportunities - The U.S. Air Force has requested an increase in AMRAAM production from 1,200 to 2,400 units annually by 2028, which is significant as AMRAAM is the largest defense program supplied by Solitron. However, this increase requires Congressional approval [4] - The company is seeing increased interest in new product development, particularly in silicon carbide, and has developed various prototypes for testing [5][4]