Defense Speak Interpreted: Is DARPA Still Around After CHIPS?
Beyond the Board: Orbital High Ground—Why Space Superiority Is Slipping Away
The Government Circuit: Trump’s Trade War Disrupts the Electronics Ecosystem
Sparton Reports Positive Fiscal 2017 Q4 Results
September 15, 2017 | Sparton Corp.Estimated reading time: 1 minute
Sparton Corp. has announced consolidated net sales of $104.4 million for the fourth quarter ended July 2, 2017. Gross profit margin was 20.9%, an increase of 320 bps from prior quarter. Earnings per share was $0.17, while adjusted earnings per share was $0.38.
"We are pleased to report our organic growth produced over $23 million in new programs wins for the quarter. A clear indication of the progress we are making in building a business model that supports profitable revenue growth through business development. Additionally, while a significant amount of time and effort was directed toward arriving at a merger agreement with Ultra Electronics Holdings plc on July 7, 2017, we were able to focus on delivering improved operating performance for the quarter while exceeding fourth quarter guidance on revenue and gross margins,” says Joseph J. Hartnett, interim president and CEO.
Joseph G. McCormack, Sr. VP and CFO, comments, "We are pleased that the continued improvement in operating performance across both segments allowed us to significantly pay down our debt during the fourth quarter of fiscal 2017 and reduce our debt leverage below 3.0x EBITDA at year-end."
MDS Segment:
- Gross sales of $67.0 million
- Gross profit margin of 13.6%, an increase of 260 bps from the prior quarter
- Operating income of $1.6 million
- Adjusted EBITDA of $6.4 million, a 9.6% adjusted EBITDA margin
- New program wins in Q4 have expected revenue of $23.2 million when fully ramped up into production
- Trailing four quarter new program win revenue of $62.4 million, which continues to support our future organic growth
ECP Segment:
- Gross sales of $40.3 million
- Gross profit margin of 31.5%, an increase of 390 bps from the prior quarter
- Operating income of $7.8 million
- Adjusted EBITDA of $9.9 million, a 24.5% adjusted EBITDA margin
About Sparton Corporation
Sparton Corporation (NYSE:SPA), now in its 118th year, is a provider of complex and sophisticated electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, field service, and refurbishment. The primary markets served are Medical & Biotechnology, Military & Aerospace, and Industrial & Commercial. Headquartered in Schaumburg, IL, Sparton currently has thirteen manufacturing locations and engineering design centers worldwide.
Share on:
Suggested Items
Moog Announces Acquisition of COTSWORKS
07/07/2025 | BUSINESS WIREMoog Inc., a worldwide designer, manufacturer and systems integrator of high-performance precision motion and fluid controls and control systems, announced the acquisition of COTSWORKS Inc., an aerospace and defense fiber optics transceiver component manufacturer, for a purchase price of $63 million.
S&K Aerospace Awarded Major Contract Under DLA Maritime Acquisition Advancement Program
07/02/2025 | BUSINESS WIRES&K Aerospace, LLC has been awarded a significant contract under the Defense Logistics Agency’s (DLA) Maritime Acquisition Advancement Program, managed by the U.S. Naval Supply Command - Weapon Systems Support (NAVSUP WSS) in Mechanicsburg, PA.
Green Circuits to Exhibit Full-Service Electronics Manufacturing Solutions at 2025 SMD Symposium
07/02/2025 | Green CircuitsGreen Circuits, a full-service Electronics Manufacturing Services (EMS) partner to leading OEMs, is pleased to announce its participation in the 2025 SMD Symposium, taking place August 5-7 at the Von Braun Center in Huntsville, Alabama.
I-Connect007 Editor’s Choice: Five Must-Reads for the Week
06/27/2025 | Nolan Johnson, I-Connect007While news outside our industry keeps our attention occupied, the big news inside the industry is the rechristening of IPC as the Global Electronics Association. My must-reads begins with Marcy LaRont’s exclusive and informative interview with Dr. John Mitchell, president and CEO of the Global Electronics Association. For designers, have we finally reached the point in time where autorouters will fulfill their potential?
Knocking Down the Bone Pile: Tin Whisker Mitigation in Aerospace Applications, Part 3
06/25/2025 | Nash Bell -- Column: Knocking Down the Bone PileTin whiskers are slender, hair-like metallic growths that can develop on the surface of tin-plated electronic components. Typically measuring a few micrometers in diameter and growing several millimeters in length, they form through an electrochemical process influenced by environmental factors such as temperature variations, mechanical or compressive stress, and the aging of solder alloys.