Total Revenue (by segment/geography)

-58% (from $20.26M in Q2 2024 to $8.549M in Q2 2025)

The dramatic decline is driven by steep declines across major segments: Industrial revenue fell by 42%, Structural revenue dropped by roughly 62%, and Aerospace/Defense revenue declined nearly 58%. Geographic markets also mirrored these decreases with U.S. sales down about 58%, Asia down 63%, and Other regions down 58%, reflecting challenging market conditions and possibly shifting customer demand compared to previous periods. " "

Sales, net

+17% (from $9.924M in Q2 2024 to $11.618M in Q2 2025)

Despite the overall drop in segmented revenues, the consolidated net sales increased, suggesting changes in revenue recognition or consolidation methods and possibly the impact of higher long-term project revenues driving consolidated performance compared to prior reporting periods. " "

Net Income (income statement)

+44% (from $1.848M in Q2 2024 to $2.667M in Q2 2025)

The significant increase in net income on the income statement is likely due to improved cost management, better gross margins, and favorable operating efficiencies, resulting in higher profitability relative to last year's figures despite a decline in reported segmented total revenues. " " " "

Net Income (cash flow statement)

-47% (declined from previous period’s level to $1.056M in Q2 2025)

The divergence in net income as reported in the cash flow statement—falling by roughly 47%—suggests timing differences in cash collections, higher tax provisions, or other non-operational adjustments that negatively impacted cash flow performance compared to the previous period, warranting further investigation into reconciliation differences. " " " "