Solitron Devices, Inc., a leading provider of solid-state semiconductor components for the military and aerospace markets, has announced impressive third-quarter bookings for fiscal 2025. The company reported bookings in excess of $8 million, a significant increase compared to the same period in fiscal 2024.
The third-quarter bookings for fiscal 2025 totaled approximately $8.0 million, up from around $4.8 million in the third quarter of fiscal 2024. Additionally, the first nine months of fiscal 2025 saw bookings of approximately $11.8 million, compared to $10.6 million in the same period in fiscal 2024. It is worth noting that the bookings for the first nine months of fiscal 2024 only included one quarter for MEI, whereas the bookings for the first nine months of fiscal 2025 included three quarters for MEI.
As of November 30, 2024, Solitron Devices reported a backlog of approximately $12.3 million, slightly lower than the backlog of $13.0 million as of November 30, 2023. The company did not receive a large end-of-life order as anticipated, but instead, was instructed to order a significantly large quantity of the end-of-life component to meet customer demand over the next twenty years.
Despite not yet receiving the order from its largest program, estimated to be around $5 million, Solitron remains optimistic about future revenue sources. The company expects third-quarter revenue for fiscal 2025 to be approximately $3.4 million, a decrease from the $4.1 million reported in the third quarter of fiscal 2024. The decline in revenue is attributed to a lower backlog at the beginning of the fiscal 2025 third quarter and increased rework during the period.
Solitron Devices continues to focus on new product development, including silicon carbide, with various prototypes being tested by potential customers. The company remains confident about creating additional revenue streams through these initiatives.
The unaudited financial information provided in this announcement is based on management’s review of operations and available data as of the date of the press release. The company’s independent auditors have audited the financial results for the fiscal year ending February 29, 2024. The financial results presented should not be considered a substitute for the official filings with the SEC.
Solitron Devices, Inc. designs, develops, manufactures, and markets solid-state semiconductor components for military and aerospace applications. Following the acquisition of Micro Engineering Inc. (MEI) in September 2023, the company has expanded its capabilities in solving design and manufacturing challenges for customers.
This press release contains forward-looking statements that involve risks and uncertainties, including factors that could impact actual results. Readers are advised to refer to the company’s SEC filings for a comprehensive understanding of the risks involved.
For more information about Solitron Devices, Inc. and its products, visit the company’s official website.