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Achieved full-year sales growth for the first time in three years by transitioning to a customer-centric ‘hunter’ sales model and accelerating product launch cadences.
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Optimized the portfolio by divesting Custom Fluid Power (CFP) to exit lower-margin distribution and refocus on core high-value manufacturing of manifolds and integrated packages.
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Expanded gross margins for four consecutive quarters through improved volume absorption, productivity initiatives, and the removal of the margin-dilutive CFP business.
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Overcame contraction in U.S. Industrial Production and PMI by capturing greater wallet share from existing customers with ruggedized, niche-application solutions.
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Reallocated engineering resources from a centralized model back into core business units to improve responsiveness and institutionalize innovation processes.
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Fortified the leadership team with permanent appointments in CEO, CFO, and segment president roles to drive a predictable, performance-driven culture.
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Guidance for 2026 assumes 6% pro forma revenue growth at the midpoint, primarily driven by volume gains in core platforms and the ramp-up of recent commercial wins.
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Expects stronger year-over-year growth rates in the first half of 2026 due to favorable comparisons and current visibility into customer order flows.
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Management anticipates reaching mid-30% gross margins by leveraging existing capacity without adding significant new overhead or infrastructure.
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Capital allocation will prioritize debt reduction and organic investment, with CapEx projected to rise slightly to address deferred equipment projects and automation.
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The CORE 2030 strategy, to be unveiled in March, will outline the next chapter of growth, focusing on new market adjacencies and institutionalized innovation.
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The 2025 operating income was impacted by a non-recurring goodwill impairment charge related to iPROD product development in the third quarter.
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Net interest expense in Q4 benefited from a one-time $5.4 million gain related to a maturing interest rate swap from a 2024 refinancing.
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Management flagged potential supply chain risks for 2026, specifically regarding the availability and cost of memory chips as manufacturers shift to high-end components.
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Global tariff uncertainty remains a headwind, though the company aims to mitigate impacts through its ‘in the region for the region’ manufacturing strategy and pricing surcharges.
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