Solitron Devices, Inc. Announces Fiscal 2027 First Quarter Results

WEST PALM BEACH, Fla., July 13, 2026 (GLOBE NEWSWIRE) — Solit o Devices, I c. (OTC Pi k: SODI) (“Solit o ” o the “Compa y”) is pleased to a ou ce fiscal 2027 fi st qua te esults.

FISCAL 2027 FIRST QUARTER HIGHLIGHTS –

Net sales i c eased 101% to app oximately $5.44 millio i the fiscal 2027 fi st qua te ve sus $2.70 millio i the fiscal 2026 fi st qua te .
Net booki gs dec eased 48% to $1.45 millio i the fiscal 2027 fi st qua te ve sus $2.80 millio i the p io yea fi st qua te .
Backlog i c eased 28% to $23.34 millio at the e d of the fiscal 2027 fi st qua te as compa ed to $18.26 millio at the e d of the fiscal 2026 fi st qua te .
Net i come was $0.99 millio , o $0.46 pe sha e, fo the fiscal 2027 fi st qua te ve sus et loss of ($0.34) millio , o ($0.16) pe sha e, fo the fiscal 2026 fi st qua te . Net i come i the fiscal 2027 fi st qua te was impacted by a i c ease to the co ti ge t co side atio of $0.33 millio elated to the MEI ea out payme t based o a la ge o de eceived afte the e d of the fiscal qua te .

Reve ue co ti ued to be up i the fi st qua te , simila to the fou th qua te of fiscal yea 2026, due to the Compa y’s st o g backlog. As p eviously oted i ou last p ess elease, we expected highe eve ues i this qua te a d a ticipate sales to co ti ue to be at this level o g eate fo the emai de of the 2027 fiscal yea .

While the i come stateme t eflects i come taxes, o actual i come taxes we e due as the Compa y has defe ed tax assets elated to p evious et ope ati g losses.

The Compa y’s backlog co ti ues to be st o g. Backlog dec eased f om $27.28 millio at the begi i g of the fiscal yea to $23.34 millio at the e d of fiscal 2027 fi st qua te . Howeve , as oted above the Compa y’s backlog epo ted at the e d of the fi st qua te does ’t i clude a $5.04 millio o de eceived by MEI afte qua te e d, which b i gs the Compa y’s backlog to $26.97 millio as of July 2026.

By law, ce tai U.S. Depa tme t of Defe se officials a d othe executive b a ch age cy officials a e equi ed to submit epo ts to Co g ess desc ibi g defe se a d i tellige ce- elated p io ities that we e ot i cluded i the P eside t’s a ual budget equest. These epo ts, k ow as u fu ded p io ities lists (UPLs), ide tify ce tai p og ams, activities, o missio equi eme ts fo which app op iatio s we e ot equested, alo g with the fu di g amou ts that may be ecessa y to esou ce them. I the ece t u fu ded p io ities list it has bee epo ted that the U.S. Ai Fo ce equested a i c ease i AMRAAM p oductio f om 1,200 a ually to 2,400 a ually by 2028. AMRAAM is the la gest defe se p og am that Solit o supplies to. While the equest is positive ews, a y i c ease equi es Co g essio al app oval, a d the e a e o assu a ces that app oval will happe .

We co ti ue to be e cou aged about the possibility of multi-yea o de s fo compo e ts o AMRAAM a d Sta da d Missiles 2 a d 6. Ou cu e t expectatio is fo the ext AMRAAM o de to be eceived i the fiscal thi d qua te . Howeve , as p eviously stated, thi gs seem to move slowly with defe se p ocu eme t.

Subseque t to the e d of the fiscal fi st qua te we etai ed a i vestme t ba ke to assist i the compa y’s explo atio of st ategic alte atives. The e ca be o assu a ce that the eview bei g u de take will esult i a me ge , sale, acquisitio , te de offe , o special divide d. The Compa y does ot i te d to make fu the a ou ceme ts ega di g the eview u less a d u til the Boa d has app oved a specific t a sactio o othe cou se of actio equi i g disclosu e.

SOLITRON DEVICES, INC.CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONSFOR THE THREE MONTHS ENDED MAY 31, 2026, AND MAY 31, 2025(i thousa ds except fo sha e a d pe sha e amou ts)

Fo The Th eeMo ths E ded

May 31, 2026

May 31, 2025

u audited

Net sales

5,436

2,700

Cost of sales

2,971

2,310

G oss p ofit

2,465

390

Selli g, ge e al a d admi ist ative expe ses

930

768

Ope ati g i come (loss)

1,535

(378

)

Othe i come (loss)

I te est i come

–

I te est expe se

(62

)

(74

)

Divide d i come

Realized gai (loss) o i vestme ts

–

U ealized gai (loss) o i vestme ts

)

(127

)

Co ti ge t co side atio expe se

(331

)

–

Sc ap i come

100

–

Total othe (loss)

(188

)

(79

)

Net i come (loss) befo e i come tax

1,347

(457

)

I come tax (expe se) be efit

(357

)

121

Net i come (loss)

990

(336

)

Net i come (loss) pe commo sha e – basic a d diluted

0.46

(0.16

)

Weighted ave age sha es outsta di g – basic a d diluted

2,152,051

2,082,553

SOLITRON DEVICES, INC. CONSOLIDATED CONDENSED BALANCE SHEETS AS OF MAY 31, 2026, AND FEBRUARY 28, 2026(i thousa ds, except fo sha e a d pe sha e amou ts)

May 31,2026

Feb ua y 28,2026

ASSETS

CURRENT ASSETS

Cash a d cash equivale ts

6,036

3,914

Ma ketable secu ities

–

Accou ts eceivable

3,001

3,367

I ve to ies, et

4,567

4,132

P epaid expe ses a d othe cu e t assets

323

142

TOTAL CURRENT ASSETS

13,927

11,557

P ope ty, pla t a d equipme t, et

8,343

8,383

I ta gible assets

2,643

2,695

Defe ed tax asset

975

1,332

Lo g-te m i vestme t

1,650

Othe assets

323

TOTAL ASSETS

27,577

25,940

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES

Accou ts payable

602

470

Custome deposits

Acc ued co ti ge t co side atio , cu e t

1,119

771

Mo tgage loa , cu e t po tio

161

160

Acc ued expe ses a d othe cu e t liabilities

1,156

1,067

TOTAL CURRENT LIABILITIES

3,115

2,532

Mo tgage loa , et of cu e t po tio

3,562

3,605

TOTAL LIABILITIES

6,677

6,137

STOCKHOLDERS’ EQUITY

P efe ed stock, $.01 pa value, autho ized 500,000 sha es, o e issued

–

Commo stock, $.01 pa value, autho ized 10,000,000 sha es, 2,152,703sha es outsta di g, et of 431,677 t easu y sha es at May 31, 2026 a d2,147,703 sha es outsta di g, et of 436,677 t easu y sha es at Feb ua y28, 2026, espectively

Additio al paid-i capital

1,987

Retai ed ea i gs

19,237

18,247

Less t easu y stock

(346

)

(452

)

TOTAL STOCKHOLDERS’ EQUITY

20,900

19,803

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

27,577

25,940

The u audited fi a cial i fo matio disclosed i this p ess elease fo the th ee mo ths e ded May 31, 2026, is based o ma ageme t’s eview of ope atio s fo that pe iod a d the i fo matio available to the Compa y as of the date of this p ess elease. The Compa y’s esults i cluded he ei have bee p epa ed by, a d a e the espo sibility of, the Compa y’s ma ageme t. The Compa y’s i depe de t audito s have audited the Compa y’s esults fo the fiscal yea e di g Feb ua y 28, 2026. The fi a cial esults p ese ted he ei should ot be co side ed a substitute fo the i fo matio filed o to be filed with the SEC i the Compa y’s A ual Repo t o Fo m 10-K a d Qua te ly Repo t o Fo m 10-Q fo the espective pe iods o ce such epo ts become available.  

About Solit o Devices, I c. Solit o Devices, I c., a Delawa e co po atio , desig s, develops, ma ufactu es, a d ma kets solid state semico ducto compo e ts a d elated devices p ima ily fo the milita y a d ae ospace ma kets. The Compa y ma ufactu es a la ge va iety of bipola a d metal oxide semico ducto (“MOS”) powe t a sisto s, powe a d co t ol hyb ids, ju ctio a d powe MOS field effect t a sisto s (“Powe MOSFETS”), a d othe elated p oducts. Most of the Compa y’s p oducts a e custom made pu sua t to co t acts with custome s whose e d p oducts a e sold to the U ited States gove me t. Othe p oducts, such as Joi t A my/Navy (“JAN”) t a sisto s, diodes, a d Sta da d Milita y D awi gs voltage egulato s, a e sold as sta da d o catalog items.

Effective Septembe 1, 2023, Solit o closed its acquisitio of Mic o E gi ee i g I c. (MEI) based i Apopka, Flo ida. MEI specializes i solvi g desig layout a d ma ufactu i g challe ges while maximizi g efficie cy a d keepi g flexibility to meet u ique custome eeds. Si ce 1980 the MEI team has bee dedicated to ove comi g obstacles to p ovide cost efficie t a d apid esults. MEI specializes i low to mid volume p ojects that equi e e gi ee i g dedicatio , quality systems a d efficie t ma ufactu i g.

Fo wa d-Looki g Stateme ts This p ess elease co tai s fo wa d-looki g stateme ts ega di g futu e eve ts a d the futu e pe fo ma ce of Solit o Devices, I c. that i volve isks a d u ce tai ties that could mate ially affect actual esults, i cludi g stateme ts ega di g the Compa y’s expectatio s ega di g futu e pe fo ma ce a d t e ds, i cludi g p oductio levels, gove me t spe di g, backlog a d delive y timeli es, ew p oduct developme t, ou effo ts a d pe fo ma ce followi g ou acquisitio of MEI, a d pote tial futu e eve ue a d t e ds with espect the eto f om each of the fo egoi g. Facto s that could cause actual esults to va y f om cu e t expectatio s a d fo wa d-looki g stateme ts co tai ed i this p ess elease i clude, but a e ot limited to, the isks a d u ce tai ties a isi g f om pote tial adve se developme ts o cha ges i gove me t budgeta y spe di g a d policy i cludi g with espect to the wa i Uk ai e, which may amo g othe facto s be affected by the possibility of educed gove me t spe di g o p og ams i which we pa ticipate, i flatio , elevated i te est ates, adve se t e ds i the eco omy a d the possibility of a ecessio the likelihood of which appea s to have i c eased based o ece t eco omic data, the possibility that ma ageme t’s estimates a d assumptio s ega di g booki gs, sales a d othe met ics p ove to be i co ect; the timi g a d size of o de s f om ou clie ts, ou delive y schedules a d ou liquidity a d cash positio ; ou ability to make the app op iate adjustme ts to ou cost st uctu e; ou ability to p ope ly accou t fo i ve to y i the futu e; the dema d fo ou p oducts a d pote tial loss of, o eductio of busi ess f om, substa tial clie ts ou depe de ce o gove me t co t acts, which a e subject to te mi atio , p ice e egotiatio s a d egulato y complia ce a d which may amo g othe facto s be adve sely affected by the facto s desc ibed elsewhe e he ei , ou ability to co ti ue to i teg ate MEI i a efficie t a d effective ma e , a d the possibility that such acquisitio o a y othe acquisitio o st ategic t a sactio we may pu sue does ot yield the esults o be efits desi ed o a ticipated. Desc iptio s of othe isk facto s a d u ce tai ties a e co tai ed i the Compa y’s Secu ities a d Excha ge Commissio fili gs, i cludi g its most ece t A ual Repo t o Fo m 10-K fo the fiscal yea e ded Feb ua y 28, 2026.

Tim E ikse Chief Executive Office (561) 848-4311 Co po ate@solit o devices.com