Elmet Group Reports Record Backlog Amid Increased Defense Spending
Elmet Group Co. has achieved a record backlog of $113.3 million, driven by heightened defense spending. The company reported a revenue increase of 20.7% to $56 million in Q1, despite incurring a net loss of $338,000.
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Elmet Group Co. reported a record backlog of $113.3 million in its first quarter, up from $96.3 million in Q4 and $74.5 million year-over-year. Revenue reached $56 million, a 20.7% increase compared to the previous year.
The company's EBITDA margin improved to 16.4% from 9.6% last year. Following a successful IPO raising $125.5 million, the company is positioned to address strong demand in defense-related markets. Despite a net loss of $338,000, Elmet's market value reached approximately $571 million, with shares trading at $18.94, fluctuating significantly since the IPO.
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