Positive Book-to-Bill Ratio
Consolidated orders grew 5.5% sequentially, leading to a book-to-bill ratio of 1.0, marking the first positive ratio in eight quarters and indicating potential recovery.
Weighing Solutions Segment Growth
Fourth quarter sales in the weighing solutions segment increased by 2.2% from the third quarter, driven by higher revenue in industrial weighing and precision agriculture markets. Orders grew 14.5% sequentially, reaching a book-to-bill of 1.12.
Business Development Success
Business development projects contributed $18 million in revenue in 2024. Initiatives are expected to potentially contribute $100 million in revenue over the next three to four years.
Cost Savings and Efficiency Initiatives
Implemented efficiency initiatives in 2024 resulted in approximately $5 million net improvements. An additional $5 million in annual cost reductions is targeted for 2025.
Strong Balance Sheet
Ended the fourth quarter with $79.3 million in cash and cash equivalents, with plans for further M&A to complement organic growth.