Aug 13, 2026 earnings call — Revenue growth and defense backlog
Consolidated revenue was $9.1 million, 23% higher than the fiscal 2026 first quarter.
Revenue $0.0B · EPS $-0.02
Key quotes
"Our Ranor segment continues to execute and install new equipment, funded by the $24 million plus in grants from our U.S. Navy submarine programs-related customers."
"As a result, our total debt was $5 million even on June 30, 2026, compared to $7 million on March 31, 2026."
"And as we hit milestones reviewing, we have now a robust estimate-to-complete process in place that's going to help us avoid any surprises and get back to the customer much earlier than what we've had in the past."
Analyst Q&A 1
Stadco losses and new customer work
Q (Ross Taylor · ARS Investment Partners): He asked for an update on progress fixing loss-making Stadco contracts and whether those programs turned breakeven or profitable. He also asked if they're winning more work and getting customer or prime support to increase production capacity.
A: Management said they have made tangible progress and have successfully pursued price adjustments that were resolved in their favor last quarter. They said less than 50% of Stadco business is affected, new orders have stricter quoting and milestone gates, and they added an estimate-to-complete process to avoid surprises. They noted customer-furnished substandard material causes interruptions, they are winning some new quotes and awards, and they are actively pursuing customer support for capacity though specifics cannot be disclosed yet.
"And when they're warranted and adjudicated as such, they do come back with resolution in our favor." — Alexander Shen (CEO)