Solitron Devices Q1 Revenue Doubles to $5.4M, Swings to Profit; Backlog Hits $23.3M
SODI sits 79% above its 52-week low of $14.23.
Summary
Solitron Devices reported Q1 FY2027 revenue of $5.4M (up 101% YoY) and net income of $990K, with backlog rising to $23.3M. The material weakness in internal controls remains unremediated.
Key Events · Earnings and Guidance · SODI
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Revenue More Than Doubles
Driven by higher backlog and deliveries, net sales surged 101% to $5.4 million in Q1 FY2027, compared to $2.7 million in the prior-year quarter.
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Swings to Profitability
Reflecting improved operating leverage and higher volumes, net income reached $990,000 ($0.46 per share) versus a net loss of $336,000 a year ago.
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Backlog Grows to $23.3M
Backlog increased 28% year-over-year to $23.3 million. A large MEI order received after quarter-end will further increase future revenue and contingent consideration.
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Material Weakness Unresolved
The material weakness in internal control over financial reporting disclosed in the FY2026 10-K remains unremediated. New disclosure controls were designed but not yet tested for operating effectiveness.
Analysis · SODI · Manufacturing
A standout quarter saw net sales more than double year-over-year to $5.4 million, while net income swung from a loss to $990,000. The backlog grew 28% to $23.3 million, and a large MEI order received after the quarter end will further boost future revenue. However, the material weakness in internal controls disclosed in the prior 10-K remains unremediated, and management cannot yet confirm the new controls are operating effectively. The strong operating performance and growing backlog are clear positives, but the lingering control deficiency remains a risk factor that investors need to weigh.
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At the time of this filing, SODI was trading at $25.51 on OTC in the Manufacturing sector, with a market capitalization of approximately $54.9M. The 52-week trading range was $14.23 to $30.80. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.