Financial Data and Key Metrics Changes - Consolidated revenues increased by 7.1% year-over-year to $783 million, with organic growth of 6.3% [7][15] - Adjusted EBITDA grew by 18.6% to $217 million, with an adjusted EBITDA margin of 27.7%, up 270 basis points from the previous year [8][18] - Adjusted net income rose by 14.4% to $119 million, with adjusted diluted earnings per share increasing to $0.56 from $0.49 [18][19] Business Line Data and Key Metrics Changes - **Industrial Segment**: Revenues increased by 8.2% to $343 million, with organic growth of 7.3%. Adjusted EBITDA rose by 16% to $123 million, and the adjusted EBITDA margin improved to 35.9% [19][20] - **Consumer Segment**: Revenues reached $340 million, up 5.9% overall and 5.3% organically. Adjusted EBITDA increased by 12.9% to $70 million, with a margin of 20.6% [20][21] - **Software and Advisory Segment**: Revenues grew by 7.5% to $100 million, with organic growth of 6.5%. Adjusted EBITDA surged by 60% to $24 million, with a margin of 24% [21][22] Market Data and Key Metrics Changes - Strong demand was noted across all geographic markets, with particular growth in the U.S., Greater China, and ASEAN regions [54][56] - Significant growth was observed in Vietnam, Thailand, and India, while traditional markets like Germany, Japan, and Taiwan experienced slight contractions [45][56] Company Strategy and Development Direction - The company is focusing on transformative industry trends such as energy transition, electrification, and digital transformation to drive sustainable growth [5][12] - A restructuring initiative was announced to streamline operations, reduce expenses, and focus on core growth areas, which is expected to generate annual savings of $25 million to $30 million [12][24] - The company is committed to ongoing investments in capacity and capabilities to meet customer demands [27][70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the business model, citing sustained customer demand despite geopolitical and regulatory challenges [5][13] - The full-year 2025 guidance was strengthened, with expectations for organic revenue growth in the range of 5.5% to 6% [25][28] - The company anticipates a modest headwind in 2026 due to exiting non-strategic service lines, but overall growth rates for core businesses are expected to remain stable [78][108] Other Important Information - The company launched a new artificial intelligence safety certification testing program to address safety concerns in AI technologies [30][31] - A significant investment was made in a Global Fire Science Center of Excellence to enhance testing capabilities [11][70] Q&A Session Summary Question: Impact of customer focus in China on business - Management noted that customers are adapting to a new normal regarding tariffs and supply chain diversification, indicating a return to business as usual [35][36] Question: Performance of Software and Advisory segment - The strong performance was attributed to the completion of numerous advisory projects, leading to high staff utilization [39][40] Question: Growth dynamics across regions - Growth was observed in all regions, with particular strength in the U.S. and Greater China, especially in data center-related sectors [54][56] Question: Details on restructuring plan - The restructuring will focus on exiting non-strategic service lines, allowing for a more concentrated effort on core growth areas [48][49] Question: Future M&A appetite - The company remains disciplined and active in pursuing M&A opportunities, focusing on timing and quality [113][114]