Automotive Revenue Increase
Automotive revenue increased 4.3% compared to the second quarter, driven by strong demand for Opto products in China.
Aerospace and Defense Demand
Revenue in Aerospace and Defense was flat quarter-over-quarter but up 20.2% from the previous year, with strong demand from OEMs in the Americas.
AI Servers Demand Surge
Increasing demand for AI servers, particularly in Asia, noted with a surge in spot orders related to AI server power.
Restructuring and Cost Savings
Restructuring programs announced with expected annual cost savings of $23 million when fully implemented.
Growth in Product Portfolio
Addition of nearly 9,000 part numbers year-to-date and strategic use of subcontractors to expand product offerings.