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SOLITRON DEVICES INC - $SODI STOCK NEWS

Welcome to our dedicated page for SOLITRON DEVICES news (Ticker: $SODI), a resource for investors and traders seeking the latest updates and insights on SOLITRON DEVICES stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect SOLITRON DEVICES's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of SOLITRON DEVICES's position in the market.

Rhea-AI Summary
Solitron Devices, Inc. (SODI) announces impressive fiscal 2024 third quarter results, with a 608% increase in net sales, 115% increase in net bookings, and 102% increase in backlog. The company reported a net income of $0.09 million, or $0.04 per share, compared to a loss of ($0.49 million) in the previous year's third quarter. The acquisition of Micro Engineering (MEI) contributed to the significant revenue growth, with MEI's net sales of $1.41 million. However, the acquisition also led to increased costs of goods sold and acquisition-related expenses, impacting the reported operating income. President Biden's omnibus spending bill has positively impacted Solitron's revenue sources, but the timing of orders and deliveries remains uncertain. The company also sees potential in new product development, particularly in silicon carbide.
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Solitron Devices, Inc. announces acquisition of Micro Engineering Inc. and preliminary Q2 2024 sales and bookings
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SOLITRON DEVICES INC

OTC:SODI

SODI Rankings

SODI Stock Data

36.17M
1.14M
13.29%
32.5%
Semiconductor and Related Device Manufacturing
Manufacturing
Link
United States of America
West Palm Beach

About SODI

solitron devices inc is an electrical and electronic manufacturing company located in 3301 elec way ste c, west palm beach, fl, united states.