The fiscal year was defined by the integration of the newly acquired Nu Aire, which expanded the company's laboratory products portfolio. The newly rebranded Lab Products Group (LPG) saw sales climb 19.8% to $214.8 million, though profitability faced pressure from fluctuating project delivery timelines, higher input costs, and tariff-related expenses. Despite these challenges, the company strengthened its financial footing, cutting long-term debt by roughly $20 million and finalizing the repayment of acquisition-related seller notes. This shift improved the debt-to-equity ratio to 0.61-to-1, down from 0.99-to-1 in 2025.
International operations demonstrated resilience, with sales rising nearly 10% to $67.1 million, supported by robust demand in Asian markets. However, the fourth quarter showed a cooling trend, with quarterly sales falling 7.5% to $71.4 million compared to the same period last year. CEO Thomas D. Hull III attributed the quarterly dip to shipment timing in the Middle East and ongoing manufacturing volume volatility. Looking ahead, the company continues to focus on capital allocation and operational efficiency to sustain its growth strategy as it enters fiscal 2027.
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