Core Points - Unisync Corp. has appointed Ron Miller to its Board of Directors, effective August 1, 2025, and he will also serve as the Audit Committee Chair [1] - Ron Miller brings over 35 years of experience in public company auditing, governance, and financial leadership, having recently served as a Partner at MNP LLP [2] - The Chairman of Unisync Corp., Tim Gu, expressed excitement about Ron's appointment, highlighting his leadership and integrity as valuable assets for the company's long-term growth [3] Company Overview - Unisync operates through two business units: Unisync Group Limited (UGL) and 92% owned Peerless Garments LP, with operations in Canada and the USA [4] - UGL is a leading provider of corporate apparel, serving prominent Canadian and American brands, while Peerless specializes in technical protective garments and military operational clothing for various government departments [4]

Financial Performance - Unisync reported a net income before tax of $1.0 million ($0.05/share) and an Adjusted EBITDA of $3.1 million ($0.16/share) on revenues of $24.5 million for the three months ended March 31, 2025 [1][5] - Consolidated revenue decreased to $24.5 million from $25.7 million in the same period last year, with UGL revenues down by $3.4 million primarily due to a decline in airline account revenue [2] - Gross profit decreased from $4.4 million to $4.0 million, but gross margins improved to 20.1% from 18.6% due to customer price increases and lower product costs [2] Operational Insights - General and administrative expenses were reduced by $0.6 million or 19% to $3.1 million due to overhead reductions from the consolidation of operations initiated in September 2023 [3] - Interest expense increased slightly to $0.9 million due to higher USD borrowings and a depreciation of the Canadian Dollar [3] - The company faced unrealized foreign exchange losses of $1.4 million on US domiciled liabilities, impacting net income for the six months ending March 31, 2025 [6] Business Outlook - UGL segment is benefiting from positive contract pricing adjustments and the relocation of offshore production to lower-cost facilities, which is expected to enhance future margins [7] - The recent strengthening of the Canadian dollar may help recover some unrealized foreign exchange losses, although uncertainties remain regarding the trade war with the US [8] - UGL management is pursuing several business opportunities in both Canadian and US markets, with Peerless holding $31.8 million in firm contracts and options as of March 31, 2025 [9]