WEST PALM BEACH, Fla., Nov. 05, 2025 (GLOBE NEWSWIRE) -- Solitron Devices, Inc. (OTC Pink: SODI) (“Solitron” or the “Company”) is pleased to announce the Company has record breaking bookings for fiscal 2026 third quarter which have already exceeded $13.8 million. The Company’s third quarter starts on September 1st and continues until November 30th. The Company anticipates it will receive additional bookings during the month of November that will be included in its third quarter bookings total. Bookings in t ...

Core Insights - Solitron Devices, Inc. reported a revenue increase in fiscal 2026 second quarter to $3.99 million, up from $2.70 million in the first quarter, indicating a positive sales trend [1][8] - The company's backlog reached a record level of $18.64 million at the end of the fiscal 2026 second quarter, up from $18.26 million in the first quarter [2] - Despite increased sales, the company experienced a net loss of $0.23 million in the fiscal 2026 second quarter, attributed to a one-time stock grant and other costs impacting gross margin [3][8] Financial Performance - Net sales increased by 11% to approximately $3.99 million in the fiscal 2026 second quarter compared to $3.58 million in the same quarter of fiscal 2025 [8] - Net bookings surged by 147% to $4.32 million in the fiscal 2026 second quarter, compared to $1.75 million in the prior year [8] - The gross profit for the fiscal 2026 second quarter was $835,000, compared to $738,000 in the same quarter of the previous year [7] Operational Developments - The company anticipates receiving an AMRAAM Lot 39 order in the fiscal 2026 third quarter, with expected order quantities approximately 10% above the previous year's order [4] - There is increased interest in new product development, particularly in silicon carbide, with various prototypes being tested by potential customers [5] - Solitron completed the acquisition of Micro Engineering Inc. (MEI) on September 1, 2023, which specializes in design layout and manufacturing challenges [11]

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]

Core Insights - Solitron Devices, Inc. reported its fiscal 2025 fourth quarter and full year results, highlighting both challenges and opportunities in its operations [1] Fiscal 2025 Fourth Quarter Highlights - Revenue for the fourth quarter was $3.13 million, a decrease of 22% compared to $4.00 million in the same quarter of fiscal 2024 [5][8] - Net bookings increased significantly by 301% to $8.92 million from $2.23 million in the fourth quarter of fiscal 2024 [8] - The backlog rose by 62% to $18.11 million at the end of the fourth quarter compared to $11.21 million at the end of the fourth quarter of fiscal 2024 [8] - The company reported a net loss of $0.37 million, or $0.18 per share, contrasting with a net income of $5.80 million, or $2.78 per share, in the fourth quarter of fiscal 2024 [8] Fiscal Year 2025 Highlights - For the full fiscal year 2025, net sales increased by 10% to approximately $14.05 million from $12.76 million in fiscal year 2024 [8] - Net bookings for the year rose by 62% to $20.76 million compared to $12.84 million in fiscal year 2024 [8] - The backlog at the end of fiscal year 2025 was $18.11 million, up 62% from $11.21 million at the end of fiscal year 2024 [8] - Net income for fiscal year 2025 decreased to $0.82 million, or $0.39 per share, from $5.80 million, or $2.78 per share, in fiscal year 2024, which had benefited from non-recurring events [8] Market and Product Development - The company experienced substantial bookings related to major defense programs, with expectations for future production levels to increase, particularly for the AMRAAM and HIMARS programs [4] - There is a growing interest in new product development, including silicon carbide, with various prototypes being tested for potential customers [6]