Solitron Devices sees Q2 profit surge YoY as net bookings increase

West Palm Beach, Fla. - Solitron Devices reported a significant turnaround in its second quarter fiscal 2027 earnings, with a $0.60 per share profit compared to a loss of -$0.11 per share in the same period last year. Revenue surged 42% year-over-year to $5.66 million, up from $3.99 million in the prior year. Net income climbed to $1.30 million, a stark contrast to a $234,000 loss in the fiscal 2026 second quarter.

The company attributed the increase to $200,000 in professional fees for an investment banker's assistance in evaluating strategic options. Net bookings rose 48% to $6.42 million compared to $4.32 million in the same period last year, while backlog expanded 29% to $24.11 million at the end of the quarter, up from $18.64 million at the end of the fiscal 2026 second quarter.

Solitron is optimistic about future sales, expecting them to either stay at current levels or increase for the remainder of fiscal 2027. The company remains hopeful about potential multi-year orders for components of AMRAAM and Standard Missiles 2, 3, and 6, following announcements by RTX and the Pentagon of agreements for both programs in October.

The next AMRAAM order is expected in the fiscal fourth quarter, contingent on Congressional funding. Despite income taxes being reflected on the income statement, no actual taxes were due as the company has deferred tax assets stemming from previous net operating losses. Solitron's second quarter revenue grew to $5.66 million from $5.44 million in the first quarter, spurred by its robust backlog.