CEO Tim Sopko attributed the year-over-year decline to delayed order placements, which pushed potential conversions beyond the close of the fiscal year. Lower volume in structural and industrial markets weighed on the bottom line, with net income falling to $8.56 million compared to $9.41 million in the prior year. Despite these headwinds, the company maintained a robust gross margin of 44%, reflecting disciplined cost management across its operations.

The company’s pivot toward aerospace and defense remains the primary growth engine, now accounting for 92% of its record order backlog. This surge includes a significant $19 million contract, a milestone for the 71-year-old firm. With the New Product Development Lab now fully operational, management is shifting focus toward maintaining profitability as it enters fiscal year 2027.