Total Revenue

–11% (Q1 2025: $71.74M vs Q1 2024: $80.78M)

Total revenue dropped by 11% driven by a broad decline in sales volume across all segments compared to Q1 2024. The previous period’s higher revenues reflected better market conditions, whereas current cyclical headwinds and lower overall demand have markedly reduced revenue. " " "

Sensors Segment

–8% (Q1 2025: $27.06M vs Q1 2024: $29.41M)

The Sensors segment’s 8% decline is attributable to lower sales of precision resistors and strain gages in key markets (Test & Measurement and Other markets). This follows a period in Q1 2024 where relatively stronger sales supported higher revenues, but persistent lower volumes have now exerted downward pressure. " " "

Weighing Solutions Segment

–8% (Q1 2025: $26.44M vs Q1 2024: $28.85M)

A similar 8% drop is seen in Weighing Solutions, where decreased demand in Industrial Weighing and related markets drove lower revenues compared with Q1 2024. The previous quarter benefitted from certain market strengths that have since reversed as overall volume declined. " " "

Measurement Systems Segment

–19% (Q1 2025: $18.25M vs Q1 2024: $22.52M)

Measurement Systems fell sharply by 19% due to significant declines in core product lines and lower sales volumes. In Q1 2024, the segment performance was bolstered in part by acquisition impacts and stronger market performance which did not carry over into Q1 2025. " " "

Transportation (within Measurement Systems)

+8% (Q1 2025: $15.43M vs Q1 2024: $14.37M)

Transportation revenue increased by 8% as this sub-market experienced a modest improvement despite broader challenges. While overall Measurement Systems revenue declined, Transportation benefitted from recovering demand relative to other sub-segments. " "

Avionics, Military & Space (AMS, within Measurement Systems)

–23% (Q1 2025: $5.38M vs Q1 2024: $6.99M)

The AMS market dropped by 23%, reflecting cyclical softness and reduced sales of critical products like DTS. In Q1 2024, higher demand in AMS helped bolster performance, but weakening demand and market pressures have led to a stark decline in Q1 2025. " "

U.S. Revenue

+4% (Q1 2025: $33.95M vs Q1 2024: $32.65M)

U.S. revenue modestly increased by 4%, indicating some level of domestic market stability amid challenging global headwinds. This contrasts with previous international deterioration, showing that the U.S. market has been more resilient compared to Q1 2024. " "

Canada Revenue

–37% (Q1 2025: $3.29M vs Q1 2024: $5.24M)

Canada revenue declined by nearly 37%, a dramatic drop compared to Q1 2024. Local market headwinds, reduced demand, and possibly regional economic factors have sharply impacted sales, reversing the relatively stronger performance from the prior period. " "

Asia Revenue

–21% (Q1 2025: $10.20M vs Q1 2024: $12.89M)

With a 21% decrease in Asia revenue, the region has been hit by continued cyclical slowdowns and lower sales volumes. This stands in contrast to the more moderate decline in the U.S., highlighting how external market conditions in Asia have shifted unfavorably compared to Q1 2024. " "

Operating Income

100% decline (Q1 2025: $(0.06)M vs Q1 2024: $6.92M)

Operating Income turned negative with a swing from $6.92M in Q1 2024 to a loss of $(0.06)M in Q1 2025. The collapse is driven by a combination of lower revenues, reduced gross margins (from 43.4% down to 37.7%), and adverse factors such as unfavorable foreign exchange and additional costs, reversing previous operational efficiency seen in Q1 2024. " "

Net Earnings

Reversed (Q1 2025: –$0.96M vs Q1 2024: $5.83M)

Net earnings declined sharply, reversing from $5.83M in Q1 2024 to a loss of $(0.96)M in Q1 2025. This reversal is largely due to the combined impact of lower operational margins, a significant revenue drop, and increased negative impacts (including foreign currency losses), which contrasts with the profitable performance in the prior period. " "

Diluted Earnings per Share

–$0.51 shift (Q1 2025: –$0.07 vs Q1 2024: $0.44)

Diluted EPS fell by approximately $0.51, moving from $0.44 in Q1 2024 to a loss of $(0.07) in Q1 2025. This drop mirrors the deterioration in net earnings and reflects the impact of reduced operating performance and significant cost pressures that were not as pronounced in Q1 2024. " "

Cash Flow from Operating Activities

–18% (Q1 2025: $5.25M vs Q1 2024: $6.41M)

The cash flow from operating activities decreased by about 18%, dropping from $6.41M in Q1 2024 to $5.25M in Q1 2025. Lower net earnings combined with less favorable changes in working capital (e.g., foreign currency impacts, inventory write-offs) contributed to the decline, compared to healthier cash conversion in the previous period. " "