Image source: The Motley Fool. Tuesday, Feb. 3, 2026 at 5 p.m. ET Call participants President and Chief Executive Officer — Brett Larsen Chief Financial Officer — Tony Voorhees Takeaways Total Revenue -- $96,300,000, declining from $113,900,000, primarily due to reduced demand from a long-standing customer and end-of-life program transitions, partially offset by new program wins and increased dema...
Image source: The Motley Fool. Tuesday, Feb. 3, 2026 at 5 p.m. ET Call participants President and Chief Executive Officer — Brett Larsen Chief Financial Officer — Tony Voorhees Takeaways Total Revenue -- $96,300,000, declining from $113,900,000, primarily due to reduced demand from a long-standing customer and end-of-life program transitions, partially offset by new program wins and increased demand from several other customers. -- $96,300,000, declining from $113,900,000, primarily due to reduced demand from a long-standing customer and end-of-life program transitions, partially offset by new program wins and increased demand from several other customers. Gross Margin -- 0.6%, with operating margin at negative 10.7%, compared to 6.8% and negative 1% respectively; adjusted gross margin was 7.9%, excluding $10,500,000 in charges related to facility wind-downs and workforce reductions. -- 0.6%, with operating margin at negative 10.7%, compared to 6.8% and negative 1% respectively; adjusted gross margin was 7.9%, excluding $10,500,000 in charges related to facility wind-downs and workforce reductions. Net Loss -- $8,600,000 or $0.79 per share, versus $4,900,000 or $0.46 per share for the same period in the prior year. -- $8,600,000 or $0.79 per share, versus $4,900,000 or $0.46 per share for the same period in the prior year. Adjusted Net Income -- Breakeven ($0 per share), compared to an adjusted net loss of $4,100,000 or $0.38 per share in the prior year. -- Breakeven ($0 per share), compared to an adjusted net loss of $4,100,000 or $0.38 per share in the prior year. China Wind-Down Savings -- Management expects cost savings of approximately $1,200,000 per quarter upon full exit from the China manufacturing operation by Q4. -- Management expects cost savings of approximately $1,200,000 per quarter upon full exit from the China manufacturing operation by Q4. Mexico Workforce Reduction Savings -- Anticipated ongoing cost savings of about $1,500,000 per quarter after fu...