Standex reported a 7.7% decrease in sales, but achieved record GAAP and adjusted gross margin of 41.1%. The company also completed the acquisition of Amran Instrument Transformers & Narayan Powertech Pvt., Ltd.
Sales declined 7.7% due to organic decline offset by acquisitions.
Record GAAP and Adjusted Gross Margin of 41.1%, up 240 bps sequentially and 160 bps YOY.
GAAP Operating Margin of 14.1%; Adjusted Operating Margin of 15.9%.
Acquired Amran Instrument Transformers & Narayan Powertech Pvt., Ltd., expanding presence in the electrical grid market.
The Company expects moderately to significantly higher revenue, driven by the impact of the recent Amran/Narayan Group acquisition, more favorable project timing in Engraving, and improving overall demand in Electronics and Specialty. On a sequential basis, the Company expects slightly to moderately higher adjusted operating margin, benefiting from higher sales partially offset by increased investments in selling, marketing, and R&D. The Company also expects the Amran/Narayan Group acquisition to be slightly accretive to adjusted earnings per share in the fiscal second quarter 2025.
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