Financial Performance - Net sales for fiscal 2025 increased 5.5% to a record 757.4millionfrom717.7 million in the prior year[12] - Gross profit for fiscal 2025 increased 16.1% to a record 153.8millionfrom132.6 million a year earlier, with a gross margin of 20.3% compared to 18.5%[13] - Net loss for fiscal 2025 was 19.5million,or0.99 per share, an improvement from a net loss of 49.2million,or2.51 per share, in the prior year[15] - Operating income for fiscal 2026 is expected to be between 86millionand91 million, representing 4.3% to 10.4% year-over-year growth[18] - The company expects fiscal 2026 net sales to be between 780millionand800 million, representing 3.0% to 5.6% year-over-year growth[18] Cash Flow and Debt Management - Generated cash from operating activities of 45.5millionandreducednetbankdebtby32.6 million to 81.4million[11]βInterestexpensedecreasedby4.5 million for fiscal 2025 to 55.6millionfrom60.0 million a year ago[14] - The company repurchased 542,134 shares for 4.8millionduringfiscal2025,supportedbystrongcashgeneration[17]AssetsandLiabilitiesβTotalassetsdecreasedfrom1,012,002,000 in 2024 to 957,636,000in2025,adeclineofapproximately5.4404,425,000 in 2024 to 351,025,000in2025,areductionofapproximately13.2726,892,000 in 2024 to 699,937,000in2025,areductionofapproximately3.739,503,000 in 2024 to 20,033,000in2025,adecreaseofapproximately49.33,575,000, compared to 1,180,000in2024,indicatingincreasedoperationalcosts[32]βShareβbasedcompensationexpensesincreasedto868,000 in Q1 2025 from 432,000inQ12024[38]βThecompanyincurrednewproductlinestartβupcostsof160,000 in Q1 2025, compared to 840,000inQ12024[38]SupplyChainandGeopoliticalChallengesβThecompanyhasreduceditsrelianceonChinesesupplierstolessthan254,607,000 in Q1 2025, with no costs reported in Q1 2024[38] - Supply chain disruptions and related costs were recorded as 734,000inQ12024,withnosuchcostsreportedinQ12025[38]EarningsandEBITDAβGAAPnetlossforthethreemonthsendedMarch31,2025was722,000, compared to a net income of 1,338,000in2024,representingasignificantturnaround[32]βEBITDAforthetwelvemonthsendedMarch31,2025wasimpactedbynonβcashitemstotaling25,029,000, contributing to a net loss of 19,470,000[34]βEBITDAforQ12025was16,296,000, a decrease from 17,703,000inQ12024,whilethetwelveβmonthEBITDAdecreasedfrom58,591,000 to 50,263,000[38]βNonβcashitemsimpactingEBITDAtotaled3,528,000 in Q1 2025, significantly higher than $301,000 in Q1 2024[38]