M-tron Industries, Inc. Reports Strong Third Quarter 2024 Results with Revenue and Earnings per Share Above Expectations
M-tron Industries (MPTI) reported strong Q3 2024 results with significant growth across key metrics. Revenue increased 21.4% to $13.2 million, while gross margin improved 500 basis points to 47.8%. Net income per diluted share rose 42.1% to $0.81. The company's performance was driven by strong defense-related orders and improved operating efficiencies. Management raised FY 2024 revenue guidance to $46-48 million from $43-45 million, expecting to exceed previous forecasts with an EBITDA margin of 19-21%. Despite a decrease in backlog to $39.8 million, the company maintains a positive outlook due to continued momentum in defense-related sales.
M-tron Industries (MPTI) ha riportato risultati solidi per il terzo trimestre del 2024, con una crescita significativa in metriche chiave. I ricavi sono aumentati del 21,4% a 13,2 milioni di dollari, mentre il margine lordo è migliorato di 500 punti base, portandosi al 47,8%. L'utile netto per azione diluita è salito del 42,1% a 0,81 dollari. Le performance dell'azienda sono state sostenute da forti ordini legati alla difesa e da miglioramenti nelle efficienze operative. La direzione ha alzato le previsioni sui ricavi per l'anno fiscale 2024 a un intervallo compreso tra 46 e 48 milioni di dollari, rispetto ai 43-45 milioni precedentemente stimati, prevedendo di superare le previsioni precedenti con un margine EBITDA del 19-21%. Nonostante un calo del backlog a 39,8 milioni di dollari, l'azienda mantiene un'ottica positiva grazie al continuo slancio nelle vendite legate alla difesa.
M-tron Industries (MPTI) reportó resultados sólidas para el tercer trimestre de 2024, con un crecimiento significativo en métricas clave. Los ingresos aumentaron un 21.4% a 13.2 millones de dólares, mientras que el margen bruto mejoró 500 puntos base, alcanzando el 47.8%. El ingreso neto por acción diluida subió un 42.1% a 0.81 dólares. El desempeño de la compañía fue impulsado por fuertes órdenes relacionadas con la defensa y mejoras en la eficiencia operativa. La dirección elevó la guía de ingresos para el año fiscal 2024 a un rango de 46 a 48 millones de dólares, desde los 43-45 millones anteriores, esperando superar las proyecciones previas con un margen EBITDA del 19-21%. A pesar de una disminución en el backlog a 39.8 millones de dólares, la empresa mantiene una perspectiva positiva debido al continuo impulso en las ventas relacionadas con la defensa.
M-tron Industries (MPTI)는 2024년 3분기에 강력한 실적을 보고하며 주요 지표에서 상당한 성장을 나타냈습니다. 매출은 21.4% 증가하여 1320만 달러에 달했고, 총 마진은 500베이시스 포인트 개선되어 47.8%를 기록했습니다. 희석 주당 순이익은 42.1% 상승해 0.81달러에 도달했습니다. 회사의 성과는 방위 관련 주문 증가와 운영 효율 개선 덕분입니다. 경영진은 2024 회계연도 매출 전망을 4300만~4500만 달러에서 4600만~4800만 달러로 상향 조정하며, EBITDA 마진이 19%-21%에 이를 것으로 예상하고 있습니다. backlog가 3980만 달러로 감소했음에도 불구하고 방위 관련 판매의 지속적인 성장으로 인해 회사는 긍정적인 전망을 유지하고 있습니다.
M-tron Industries (MPTI) a annoncé des résultats solides pour le troisième trimestre de 2024, avec une croissance significative dans les indicateurs clés. Les revenus ont augmenté de 21,4 % pour atteindre 13,2 millions de dollars, tandis que la marge brute s'est améliorée de 500 points de base à 47,8 %. Le bénéfice net par action diluée a augmenté de 42,1 % pour atteindre 0,81 dollar. La performance de l'entreprise a été soutenue par de fortes commandes liées à la défense et par des améliorations de l'efficacité opérationnelle. La direction a relevé ses prévisions de revenus pour l'exercice 2024 à une fourchette de 46 à 48 millions de dollars, contre 43 à 45 millions de dollars précédemment, s'attendant à dépasser les prévisions antérieures avec une marge EBITDA de 19-21 %. Malgré une baisse du carnet de commandes à 39,8 millions de dollars, l'entreprise maintient une perspective positive grâce à l'élan continu des ventes liées à la défense.
M-tron Industries (MPTI) hat starke Ergebnisse für das 3. Quartal 2024 gemeldet, mit bedeutendem Wachstum in wichtigen Kennzahlen. Der Umsatz stieg um 21,4 % auf 13,2 Millionen Dollar, während die Bruttomarge um 500 Basispunkte auf 47,8 % verbessert wurde. Der Nettogewinn pro verwässerter Aktie stieg um 42,1 % auf 0,81 Dollar. Die Leistung des Unternehmens wurde durch starke Aufträge im Verteidigungsbereich und verbesserte Betriebseffizienzen gestützt. Das Management hob die Umsatzprognose für das Geschäftsjahr 2024 auf 46 bis 48 Millionen Dollar von zuvor 43 bis 45 Millionen Dollar an und erwartet, die vorherigen Prognosen mit einer EBITDA-Marge von 19-21 % zu übertreffen. Trotz eines Rückgangs des Auftragsbestands auf 39,8 Millionen Dollar bleibt das Unternehmen optimistisch aufgrund des anhaltenden Momentums im Bereich der Verteidigungsverkäufe.
- Revenue grew 21.4% YoY to $13.2 million in Q3 2024
- Gross margin improved significantly to 47.8% from 42.8% YoY
- Net income increased to $2.27 million from $1.59 million YoY
- EPS rose 42.1% to $0.81 per diluted share
- Management raised FY 2024 revenue guidance to $46-48 million
- Adjusted EBITDA increased to $3.3 million from $2.3 million YoY
- Backlog decreased to $39.8 million from $47.8 million at end of 2023
- Engineering, selling and administrative expenses increased due to higher investments
Insights
The Q3 2024 results demonstrate exceptional performance with
The company's financial health is robust, with
The strong performance is primarily driven by defense-related orders, indicating MPTI's strategic positioning in the military supply chain. The company's focus on securing large, long-duration program-centric business suggests stable, recurring revenue streams. The increased R&D investment while maintaining profitability demonstrates a balanced approach to future growth.
The reduction in backlog from
-
Revenues increased
21.4% , or$2,326,000 $13,214,000 $10,888,000 -
Gross margin increased 500 basis points to
47.8% for the three months ended September 30, 2024 from42.8% for the three months ended September 30, 2023 -
Net income per diluted share increased
42.1% , or$0.24 $0.81 $0.57 - MtronPTI anticipates a strong performance in Q4 2024 and expects to exceed its prior guidance for FY 2024
"We are pleased to report continued strength in MtronPTI's sales and strong financial performance for Q3 2024," said Michael J. Ferrantino, Jr., MtronPTI Chief Executive Officer. "Our revenues continue to be driven by defense-related orders. With improved operating efficiencies, we have been able to make strategic investments in research and development to help drive future growth and still produce superior earnings per share."
"We expect revenues, new orders and earnings to remain strong and believe the Company will exceed expectations for FY 2024," continued Mr. Ferrantino.
Results from Operations
Third Quarter 2024
Net income was
Gross margin was
Adjusted EBITDA was
Fiscal Year to Date 2024
Net income was
Gross margin was
Adjusted EBITDA was
Backlog
Backlog was
Improved 2024 Outlook
With the continued momentum in defense-related sales, and the acceleration in production and shipments during the first half of 2024, MtronPTI management raised the outlook for fiscal year 2024, increasing revenues to a range of
Earnings Call
Management, including Mr. Ferrantino and Cameron Pforr, Chief Financial Officer, will host a conference call with the investment community on Thursday, November 14, 2024, to discuss the Company's third quarter 2024 results and to respond to investor questions.
The call will begin at 10:30 a.m. Eastern Time (
Toll-Free Dial-in Number: |
(800) 715-9871 |
Toll Dial-in Number: |
+1 (646) 307-1963 |
Conference ID: |
1795619 |
An archive will be available after the call on the Investor Relations section of MtronPTI’s website at ir.mtronpti.com, along with MtronPTI’s earnings release.
M-tron Industries, Inc. Quarterly Summary (Unaudited) |
||||||||||||||||||||||||||||||||||||||||||||
|
|
2022 |
|
2023 |
|
2024 |
||||||||||||||||||||||||||||||||||||||
(in thousands) |
|
Q1 |
|
Q2 |
|
Q3 |
|
Q4 |
|
Q1 |
|
Q2 |
|
Q3 |
|
Q4 |
|
Q1 |
|
Q2 |
|
Q3 |
||||||||||||||||||||||
Revenues |
|
$ |
7,691 |
|
|
$ |
7,064 |
|
|
$ |
8,417 |
|
|
$ |
8,673 |
|
|
$ |
9,367 |
|
|
$ |
10,140 |
|
|
$ |
10,888 |
|
|
$ |
10,773 |
|
|
$ |
11,185 |
|
|
$ |
11,808 |
|
|
$ |
13,214 |
|
Y/Y |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
21.8 |
% |
|
|
43.5 |
% |
|
|
29.4 |
% |
|
|
24.2 |
% |
|
|
19.4 |
% |
|
|
16.4 |
% |
|
|
21.4 |
% |
Y/2Y |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
45.4 |
% |
|
|
67.2 |
% |
|
|
57.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross margin |
|
|
37.3 |
% |
|
|
37.5 |
% |
|
|
32.4 |
% |
|
|
35.7 |
% |
|
|
34.1 |
% |
|
|
41.6 |
% |
|
|
42.8 |
% |
|
|
43.6 |
% |
|
|
42.7 |
% |
|
|
46.6 |
% |
|
|
47.8 |
% |
Y/Y |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-8.6 |
% |
|
|
10.9 |
% |
|
|
32.1 |
% |
|
|
22.1 |
% |
|
|
25.2 |
% |
|
|
12.0 |
% |
|
|
11.7 |
% |
Y/2Y (a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14.5 |
% |
|
|
24.3 |
% |
|
|
47.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (b) |
|
$ |
619 |
|
|
$ |
486 |
|
|
$ |
503 |
|
|
$ |
190 |
|
|
$ |
553 |
|
|
$ |
1,277 |
|
|
$ |
1,586 |
|
|
$ |
73 |
|
|
$ |
1,486 |
|
|
$ |
1,744 |
|
|
$ |
2,267 |
|
Y/Y |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-10.7 |
% |
|
|
162.8 |
% |
|
|
215.3 |
% |
|
|
-61.6 |
% |
|
|
168.7 |
% |
|
|
36.6 |
% |
|
|
42.9 |
% |
Y/2Y (a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
140.1 |
% |
|
|
258.8 |
% |
|
|
350.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA (c) |
|
$ |
1,177 |
|
|
$ |
841 |
|
|
$ |
876 |
|
|
$ |
1,114 |
|
|
$ |
1,028 |
|
|
$ |
1,931 |
|
|
$ |
2,336 |
|
|
$ |
2,397 |
|
|
$ |
2,262 |
|
|
$ |
2,523 |
|
|
$ |
3,300 |
|
Y/Y |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-12.7 |
% |
|
|
129.6 |
% |
|
|
166.7 |
% |
|
|
115.2 |
% |
|
|
120.0 |
% |
|
|
30.7 |
% |
|
|
41.3 |
% |
Y/2Y (a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
92.2 |
% |
|
|
200.0 |
% |
|
|
276.7 |
% |
(a) |
Year over 2 years |
(b) |
Q1 2022 - Q3 2022 do not include any public company costs as these periods were pre-IPO. |
(c) |
A reconciliation of non-GAAP financial measures to the most comparable GAAP measure is provided at the end of this press release. |
M-tron Industries, Inc. Condensed Consolidated Statements of Operations (Unaudited) |
||||||||||||||||
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
(in thousands, except share data) |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Revenues |
|
$ |
13,214 |
|
|
$ |
10,888 |
|
|
$ |
36,207 |
|
|
$ |
30,395 |
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Manufacturing cost of sales |
|
|
6,904 |
|
|
|
6,230 |
|
|
|
19,617 |
|
|
|
18,322 |
|
Engineering, selling and administrative |
|
|
3,389 |
|
|
|
2,625 |
|
|
|
9,773 |
|
|
|
7,714 |
|
Total costs and expenses |
|
|
10,293 |
|
|
|
8,855 |
|
|
|
29,390 |
|
|
|
26,036 |
|
Operating income |
|
|
2,921 |
|
|
|
2,033 |
|
|
|
6,817 |
|
|
|
4,359 |
|
Other income (expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income (expense), net |
|
|
63 |
|
|
|
1 |
|
|
|
139 |
|
|
|
(6 |
) |
Other (expense) income, net |
|
|
24 |
|
|
|
12 |
|
|
|
61 |
|
|
|
(6 |
) |
Total other income (expense), net |
|
|
87 |
|
|
|
13 |
|
|
|
200 |
|
|
|
(12 |
) |
Income before income taxes |
|
|
3,008 |
|
|
|
2,046 |
|
|
|
7,017 |
|
|
|
4,347 |
|
Income tax expense |
|
|
741 |
|
|
|
460 |
|
|
|
1,520 |
|
|
|
931 |
|
Net income |
|
$ |
2,267 |
|
|
$ |
1,586 |
|
|
$ |
5,497 |
|
|
$ |
3,416 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.82 |
|
|
$ |
0.59 |
|
|
$ |
2.01 |
|
|
$ |
1.27 |
|
Diluted |
|
$ |
0.81 |
|
|
$ |
0.57 |
|
|
$ |
1.97 |
|
|
$ |
1.25 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
2,751,924 |
|
|
|
2,703,840 |
|
|
|
2,729,803 |
|
|
|
2,693,400 |
|
Diluted |
|
|
2,800,820 |
|
|
|
2,759,780 |
|
|
|
2,788,046 |
|
|
|
2,739,819 |
|
M-tron Industries, Inc. Condensed Consolidated Balance Sheets (Unaudited) |
||||||||
(in thousands) |
|
September 30, 2024 |
|
December 31, 2023 |
||||
Assets: |
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
8,490 |
|
|
$ |
3,913 |
|
Accounts receivable, net of reserves of |
|
|
6,058 |
|
|
|
4,802 |
|
Inventories, net |
|
|
9,553 |
|
|
|
8,884 |
|
Prepaid expenses and other current assets |
|
|
555 |
|
|
|
588 |
|
Total current assets |
|
|
24,656 |
|
|
|
18,187 |
|
Property, plant and equipment, net |
|
|
4,887 |
|
|
|
4,131 |
|
Right-of-use lease asset |
|
|
32 |
|
|
|
97 |
|
Intangible assets, net |
|
|
40 |
|
|
|
45 |
|
Deferred income tax asset |
|
|
1,894 |
|
|
|
1,835 |
|
Other assets |
|
|
7 |
|
|
|
10 |
|
Total assets |
|
$ |
31,516 |
|
|
$ |
24,305 |
|
|
|
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
|
|
|
Total current liabilities |
|
|
5,287 |
|
|
|
4,384 |
|
Non-current liabilities |
|
|
9 |
|
|
|
26 |
|
Total liabilities |
|
|
5,296 |
|
|
|
4,410 |
|
|
|
|
|
|
|
|
|
|
Total stockholders' equity |
|
|
26,220 |
|
|
|
19,895 |
|
Total liabilities and stockholders' equity |
|
$ |
31,516 |
|
|
$ |
24,305 |
|
Non-GAAP Financial Measures
Throughout this press release, including the results from operations, the Company presents its financial condition and results of operations in the way it believes will be most meaningful and representative of its business results. Some of the measurements the Company uses are "Non-GAAP financial measures" under SEC rules and regulations. The non-GAAP financial measures the Company presents are listed below and may not be comparable to similarly-named measures reported by other companies. the reconciliations of such measures to the most comparable GAAP measures in accordance with Regulation G are included within the relevant tables attached to this press release. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net earnings or diluted earnings per share prepared in accordance with GAAP.
The Company uses the following operating performance measure because the Company believes it provides both management and investors with a more complete understanding of the underlying operational results and trends and our marketplace performance
Adjusted EBITDA is derived by excluding the items set forth below from Income before income taxes. Excluded items include the following:
- Interest income
- Interest expense
- Depreciation
- Amortization
- Non-cash stock-based compensation
- Other discrete items that might have a significant impact on comparable GAAP measures and could distort the evaluation of our normal operating performance
Reconciliation of GAAP Income Before Income Taxes to Non-GAAP Adjusted EBITDA
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
(in thousands, except share data) |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Income before income taxes |
|
$ |
3,008 |
|
|
$ |
2,046 |
|
|
$ |
7,017 |
|
|
$ |
4,347 |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense (income) |
|
|
(63 |
) |
|
|
(1 |
) |
|
|
(139 |
) |
|
|
6 |
|
Depreciation |
|
|
278 |
|
|
|
192 |
|
|
|
717 |
|
|
|
577 |
|
Amortization |
|
|
— |
|
|
|
13 |
|
|
|
5 |
|
|
|
40 |
|
Total adjustments |
|
|
215 |
|
|
|
204 |
|
|
|
583 |
|
|
|
623 |
|
EBITDA |
|
|
3,223 |
|
|
|
2,250 |
|
|
|
7,600 |
|
|
|
4,970 |
|
Non-cash stock compensation |
|
|
77 |
|
|
|
86 |
|
|
|
485 |
|
|
|
297 |
|
Excess Spin-off costs |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
28 |
|
Adjusted EBITDA |
|
$ |
3,300 |
|
|
$ |
2,336 |
|
|
$ |
8,085 |
|
|
$ |
5,295 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
1.20 |
|
|
$ |
0.86 |
|
|
$ |
2.96 |
|
|
$ |
1.97 |
|
Diluted |
|
$ |
1.18 |
|
|
$ |
0.85 |
|
|
$ |
2.90 |
|
|
$ |
1.93 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
2,751,924 |
|
|
|
2,703,840 |
|
|
|
2,729,803 |
|
|
|
2,693,400 |
|
Diluted |
|
|
2,800,820 |
|
|
|
2,759,780 |
|
|
|
2,788,046 |
|
|
|
2,739,819 |
|
The following table is a reconciliation of Adjusted EBITDA to Income before income taxes:
|
|
2022 |
|
2023 |
|
2024 |
||||||||||||||||||||||||||||||||||||||
(in thousands) |
|
Q1 |
|
Q2 |
|
Q3 |
|
Q4 |
|
Q1 |
|
Q2 |
|
Q3 |
|
Q4 |
|
Q1 |
|
Q2 |
|
Q3 |
||||||||||||||||||||||
Revenues |
|
$ |
7,691 |
|
|
$ |
7,064 |
|
|
$ |
8,417 |
|
|
$ |
8,673 |
|
|
$ |
9,367 |
|
|
$ |
10,140 |
|
|
$ |
10,888 |
|
|
$ |
10,773 |
|
|
$ |
11,185 |
|
|
$ |
11,808 |
|
|
$ |
13,214 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes |
|
$ |
794 |
|
|
$ |
592 |
|
|
$ |
614 |
|
|
$ |
595 |
|
|
$ |
719 |
|
|
$ |
1,582 |
|
|
$ |
2,046 |
|
|
$ |
53 |
|
|
$ |
1,863 |
|
|
$ |
2,146 |
|
|
$ |
3,008 |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense (income) |
|
|
3 |
|
|
|
2 |
|
|
|
1 |
|
|
|
5 |
|
|
|
2 |
|
|
|
5 |
|
|
|
(1 |
) |
|
|
(13 |
) |
|
|
(32 |
) |
|
|
(44 |
) |
|
|
(63 |
) |
Depreciation |
|
|
148 |
|
|
|
165 |
|
|
|
173 |
|
|
|
185 |
|
|
|
195 |
|
|
|
190 |
|
|
|
192 |
|
|
|
220 |
|
|
|
219 |
|
|
|
220 |
|
|
|
278 |
|
Amortization |
|
|
13 |
|
|
|
14 |
|
|
|
13 |
|
|
|
14 |
|
|
|
13 |
|
|
|
14 |
|
|
|
13 |
|
|
|
13 |
|
|
|
5 |
|
|
|
— |
|
|
|
— |
|
Total adjustments |
|
|
164 |
|
|
|
181 |
|
|
|
187 |
|
|
|
204 |
|
|
|
210 |
|
|
|
209 |
|
|
|
204 |
|
|
|
220 |
|
|
|
192 |
|
|
|
176 |
|
|
|
215 |
|
EBITDA |
|
|
958 |
|
|
|
773 |
|
|
|
801 |
|
|
|
799 |
|
|
|
929 |
|
|
|
1,791 |
|
|
|
2,250 |
|
|
|
273 |
|
|
|
2,055 |
|
|
|
2,322 |
|
|
|
3,223 |
|
Non-cash stock compensation |
|
|
219 |
|
|
|
68 |
|
|
|
75 |
|
|
|
96 |
|
|
|
71 |
|
|
|
140 |
|
|
|
86 |
|
|
|
2,124 |
|
|
|
207 |
|
|
|
201 |
|
|
|
77 |
|
Excess Spin-off costs |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
219 |
|
|
|
28 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Adjusted EBITDA |
|
$ |
1,177 |
|
|
$ |
841 |
|
|
$ |
876 |
|
|
$ |
1,114 |
|
|
$ |
1,028 |
|
|
$ |
1,931 |
|
|
$ |
2,336 |
|
|
$ |
2,397 |
|
|
$ |
2,262 |
|
|
$ |
2,523 |
|
|
$ |
3,300 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA margin |
|
|
15.3 |
% |
|
|
11.9 |
% |
|
|
10.4 |
% |
|
|
12.8 |
% |
|
|
11.0 |
% |
|
|
19.0 |
% |
|
|
21.5 |
% |
|
|
22.3 |
% |
|
|
20.2 |
% |
|
|
21.4 |
% |
|
|
25.0 |
% |
About MtronPTI
M-tron Industries, Inc. (NYSE American: MPTI) was originally founded in 1965 and designs, manufactures and markets highly engineered, high reliability frequency and spectrum control products and solutions. As an engineering-centric company, MtronPTI provides close support to its customers throughout our products’ entire life cycle, including product design, prototyping, production and subsequent product upgrades. MtronPTI has design and manufacturing facilities in
Cautionary Note Concerning Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, such as those pertaining to the uncertain financial impact of COVID-19 and the Company’s financial condition, results of operations, business strategy and financial needs. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words "believe," "expect," "anticipate," "should," "plan," "will," "may," "could," "intend," "estimate," "predict," "potential," "continue" or the negative of these terms and similar expressions, as they relate to MtronPTI, are intended to identify forward-looking statements.
These forward-looking statements are largely based on current expectations and projections about future events and financial trends that may affect the financial condition, results of operations, business strategy and financial needs of the Company. They can be affected by inaccurate assumptions, including the risks, uncertainties and assumptions described in the filings made by MtronPTI with the Securities and Exchange Commission ("SEC"), including those risks set forth under the heading "Risk Factors" in the Company’s Annual Report on Form 10-K as filed with the SEC on March 25, 2024. In light of these risks, uncertainties and assumptions, the forward-looking statements in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. When you consider these forward-looking statements, you should keep in mind these risk factors and other cautionary statements in this press release.
These forward-looking statements speak only as of the date of this press release. MtronPTI undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241113038096/en/
M-tron Industries, Inc. Investor Relations:
Cameron Pforr
Chief Financial Officer
ir@mtronpti.com
Source: M-tron Industries, Inc.
FAQ
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