M&A - SOLITRON DEVICES INC

Form Type: 8-K

Filing Date: 2025-04-04

Corporate Action: Acquisition

Type: Update

Accession Number: 000143774925011021

Filing Summary: Solitron Devices, Inc. reports preliminary fiscal 2025 results showing significant bookings growth with approximately $8.9 million in the fourth quarter, a notable increase from $2.2 million in the same quarter of 2024. Total bookings for fiscal 2025 reached approximately $20.8 million compared to $12.8 million in fiscal 2024, impacted by the acquisition of Micro Engineering, Inc. (MEI). The backlog as of February 28, 2025, has risen to around $18.1 million. However, fourth quarter revenue is anticipated to be about $3.1 million, down from $4.0 million in the previous year, primarily due to a lower backlog and increased rework levels. The net income for the fourth quarter is expected to reflect a loss between $0.1 and $0.2 million, attributed to decreased revenue and an inventory reserve of $0.1 million.

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Form Type: 10-Q

Filing Date: 2025-01-14

Corporate Action: Acquisition

Type: Update

Accession Number: 000143774925001057

Filing Summary: Solitron Devices, Inc. filed a 10-Q for the quarterly period ended November 30, 2024, revealing key financial metrics, including net sales of $3,369,000 for Q3 2025, down from $4,136,000 in the same quarter of the previous year. The company's net income for the same quarter was reported at $266,000, an increase from $86,000 in Q3 2024. Additionally, Solitron's assets decreased slightly to $24,398,000 from $24,740,000 in February 2024. The company noted its acquisition of Micro Engineering Inc. in September 2023, which could signal strategic growth in addressing design layout and manufacturing challenges. Cash and cash equivalents significantly increased to $3,727,000 compared to $1,909,000 a year prior, indicating improved liquidity. Overall, the filings indicate a focus on operational efficiency and revenues amid a competitive market environment.

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Form Type: DEFA14A

Filing Date: 2025-01-06

Corporate Action: Acquisition

Type: New

Accession Number: 000143774925000435

Filing Summary: Solitron Devices, Inc. is providing a live audio stream of its 2024 Annual Meeting of Stockholders scheduled for January 24, 2025. Shareholders are encouraged to register by January 22, 2025, to participate in the meeting via the live audio stream. The meeting will also be held in person at Solitron's facility in West Palm Beach, Florida. The proxy statement and other materials are available online. Additionally, Solitron completed the acquisition of Micro Engineering Inc. (MEI) effective September 1, 2023, which specializes in design layout and manufacturing efficiencies.

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