Expense ManagementManagement is taking steps to manage expenses, including a workforce reduction, relocation of manufacturing, and increased reliance on distributors outside the US.
Growth OpportunitiesAnalyst reiterates Buy rating as opportunities for growth across multiple diverse end markets are supported by a healthy balance sheet and solid outlook for gross margin expansion.
Long-term StrategyThe reduction in headcount is prudent given the muted outlook and upcoming manufacturing changes are a positive for long term gross margin potential.