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Standex International (SXI) will participate in the Barrington Research Virtual Spring Investment Conference with its President & CEO and CFO presenting on May 16, 2024. The presentation can be accessed on Standex's investor relations website.
Standex International (NYSE: SXI) reported financial results for the third quarter of fiscal year 2024, with total net sales of $177.3 million, GAAP gross margin of 38.5%, adjusted gross margin of 39.0%, and GAAP operating margin of 12.3%. The company completed the acquisition of Japanese-based Sanyu Switch Co., The fast growth market sales increased by 9% year-on-year to $26 million. Despite a 5.7% organic sales decline, the company expects a return to organic growth rates in FY25. Standex aims to achieve a long-term target of greater than 19% operating margin by fiscal year 2028. The company generated record free cash flow of $19.3 million in the fiscal third quarter and remains optimistic about the long-term trends in fast growth end markets.
Standex International (NYSE: SXI) will announce its third quarter fiscal 2024 financial results on Thursday, May 2, 2024, after the market closes. The conference call will be broadcast live over the Internet at 8:30 a.m. ET on Friday, May 3, 2024. David Dunbar, President & CEO, and Ademir Sarcevic, CFO & Treasurer, will discuss the company's financial results, business highlights, and outlook.
Investors can access the webcast and slide presentation on Standex's website under the 'Investors' section, 'Events and Presentations' subheading at www.standex.com. A replay will be available on the website after the presentation.
