Financial Performance - Q3 sales increased by 9.5% year-over-year to $81.2 million[7] - Organic sales increased by 1.7% year-over-year[7] - Gross margin decreased approximately 150 basis points year-over-year to 26.7%[7] - Q3 EBITDA was $4.0 million, compared to $7.0 million in the previous year; net loss was $1.5 million, compared to a net income of $3.8 million in the previous year[7] - The company's six-month backlog is $133.7 million[7] Sales by Product Group - Marine & Propulsion Systems sales increased by 10.7% year-over-year[11] - Land-Based Transmissions sales decreased by 6.9% year-over-year[15] - Industrial sales increased by 56.2% year-over-year[18] Balance Sheet - Total debt was $40.8 million, and cash was $16.2 million, resulting in net debt of $24.5 million[39] - The leverage ratio is 1.0x, compared to -0.3x in the previous year[42] Geographic Sales Mix - North America accounted for 27% of sales[36] - Europe accounted for 43% of sales[36] - Asia Pacific accounted for 22% of sales[36]