Frequency Electronics, Inc. (FEIM)

Industry: Communication Equipment Sector: Technology Currency Used: US Live Price: $58.64

Enterprise Value

Metric	MRQ	MRQ-1	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996
Stock Price	36.72	26.60	24.66	11.51	6.72	7.23	10.30	9.73	12.19	9.43	9.87	9.79	11.69	11.40	10.24	8.46	9.03	5.37	3.59	6.43	10.97	12.76	12.26	12.93	9.73	10.13	16.55	18.95	8.88	12.57	11.31	4.41
Market Capitalization	358.39M	258.63M	239.53M	109.59M	63.01M	67.20M	94.08M	87.73M	109.56M	83.47M	86.47M	85.23M	101.32M	97.68M	86.72M	70.77M	74.90M	44.15M	29.24M	55.62M	95.13M	109.32M	104.40M	108.94M	81.20M	84.63M	137.55M	151.36M	65.19M	91.69M	81.78M	29.12M
(-) Cash & Equivalents	2.99M	4.51M	4.44M	13.97M	1.85M	10.27M	9.15M	2.54M	2.74M	5.35M	6.80M	5.32M	5.83M	6.80M	4.47M	5.44M	5.75M	8.33M	4.89M	6.33M	3.65M	4.46M	5.40M	3.74M	3.91M	4.48M	4.92M	4.70M	1.33M	5.53M	3.20M	7.48M
(+) Total Debt	8.40M	8.36M	7.63M	5.95M	7.46M	8.92M	9.90M	11.87M	5.94M	0.00M	0.00M	6.07M	6.60M	11.00M	11.89M	6.00M	3.03M	0.67M	1.71M	6.49M	5.01M	0.65M	0.82M	2.68M	0.73M	0.10M	0.37M	0.21M	0.43M	0.98M	11.35M	12.13M
Enterprise Value	363.79M	262.48M	242.72M	101.57M	68.62M	65.85M	94.84M	97.06M	112.77M	78.13M	79.67M	85.98M	102.09M	101.87M	94.13M	71.34M	72.19M	36.49M	26.06M	55.78M	96.49M	105.51M	99.83M	107.89M	78.02M	80.25M	133.00M	146.86M	64.29M	87.14M	89.93M	33.77M

Income Statement

Metric	TTM	TTM-1	2025-04-30	2024-04-30	2023-04-30	2022-04-30	2021-04-30	2020-04-30	2019-04-30	2018-04-30	2017-04-30	2016-04-30	2015-04-30	2014-04-30	2013-04-30	2012-04-30	2011-04-30	2010-04-30	2009-04-30	2008-04-30	2007-04-30	2006-04-30	2005-04-30	2004-04-30	2003-04-30	2002-04-30	2001-04-30	2000-04-30	1999-04-30	1998-04-30	1997-04-30	1996-04-30
Revenue	70M	60M	70M	55M	41M	48M	54M	42M	50M	39M	50M	60M	77M	72M	69M	64M	53M	49M	53M	64M	56M	53M	55M	50M	32M	41M	49M	27M	19M	32M	28M	25M
Cost of Revenue	42M	36M	40M	37M	33M	40M	37M	36M	34M	34M	39M	40M	53M	47M	44M	39M	33M	32M	43M	47M	39M	34M	37M	35M	26M	27M	31M	13M	11M	24M	17M	15M
Gross Profit	27M	24M	30M	19M	8M	9M	17M	6M	16M	5M	11M	20M	24M	25M	25M	25M	20M	18M	10M	18M	17M	19M	18M	16M	6M	14M	18M	14M	8M	9M	11M	10M
Gross Profit Margin	39.2%	39.4%	43.1%	33.6%	19.2%	17.8%	31.2%	13.9%	31.9%	13.1%	22.3%	33.8%	30.8%	34.6%	36.4%	38.7%	37.5%	35.9%	19.3%	27.4%	30.4%	35.3%	32.9%	31.1%	18.5%	34.2%	37.5%	51.8%	43.7%	26.6%	40.9%	38.6%
R&D Expenses	5M	5M	6M	3M	3M	5M	5M	5M	7M	7M	7M	6M	6M	6M	6M	4M	5M	5M	5M	7M	9M	6M	7M	5M	5M	7M	5M	5M	6M	1M	2M	1M
SG&A Expenses	13M	12M	12M	10M	9M	12M	13M	12M	12M	11M	12M	13M	14M	14M	15M	14M	11M	11M	11M	13M	11M	11M	13M	11M	8M	9M	9M	5M	5M	14M	6M	6M
Operating Expenses	19M	17M	18M	14M	13M	17M	18M	17M	19M	18M	19M	19M	20M	20M	20M	18M	16M	16M	16M	20M	21M	17M	19M	17M	18M	14M	11M	13M	14M	18M	9M	9M
Operating Income (EBIT)	9M	7M	12M	5M	-5M	-8M	-1M	-11M	-3M	-12M	-8M	1M	4M	5M	5M	7M	3M	2M	-6M	-3M	-4M	2M	-1M	-1M	-12M	0M	7M	1M	-5M	-9M	3M	1M
Operating Income Margin	12.6%	11.6%	16.8%	9.1%	-11.5%	-16.6%	-1.8%	-26.2%	-5.7%	-31.5%	-14.9%	2.2%	4.8%	6.8%	6.8%	10.9%	6.6%	3.5%	-11.2%	-4.0%	-6.6%	3.2%	-2.3%	-2.4%	-39.6%	0.2%	15.0%	3.8%	-27.4%	-28.4%	9.3%	4.0%
Interest Income	0M	0M	1M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	1M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Interest Expense	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	1M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Net Interest Income	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	-1M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Unusual Items	0M	1M	0M	1M	-1M	-1M	2M	-1M	0M	1M	1M	1M	1M	2M	0M	0M	0M	-1M	0M	5M	2M	5M	9M	1M	2M	2M	1M	3M	7M	8M	3M	2M
EBT Excluding Unusual Items	9M	7M	12M	5M	-5M	-8M	-1M	-11M	-3M	-12M	-8M	1M	4M	5M	5M	7M	4M	2M	-6M	-3M	-4M	2M	-2M	-1M	-12M	0M	7M	1M	-5M	-9M	3M	1M
Pre-Tax Income	9M	8M	12M	5M	-5M	-9M	0M	-12M	-2M	-11M	-7M	2M	5M	6M	5M	7M	4M	1M	-6M	1M	-2M	7M	7M	0M	-11M	2M	8M	4M	2M	-1M	5M	3M
Pre-Tax Margin	13.0%	13.2%	17.4%	9.9%	-13.3%	-17.9%	0.9%	-28.4%	-5.0%	-28.6%	-14.0%	3.4%	5.9%	8.8%	7.4%	10.7%	6.8%	2.5%	-10.9%	2.2%	-3.2%	12.5%	13.0%	0.5%	-33.7%	4.1%	16.7%	16.7%	8.4%	-4.1%	18.3%	12.0%
Income Tax Expense	-12M	0M	-12M	0M	0M	0M	0M	-2M	0M	11M	-2M	1M	2M	2M	1M	-1M	-2M	-2M	5M	1M	-2M	2M	2M	0M	-2M	0M	3M	1M	0M	-1M	0M	0M
Net Income	21M	8M	24M	6M	-6M	-9M	1M	-10M	-3M	-24M	-5M	1M	3M	4M	4M	7M	6M	3M	-11M	1M	0M	5M	5M	0M	-9M	1M	6M	3M	1M	0M	5M	3M
Net Income Margin	30.1%	13.0%	34.1%	10.1%	-13.5%	-17.9%	1.3%	-24.1%	-5.1%	-60.3%	-9.6%	1.7%	3.7%	5.6%	5.3%	11.6%	11.3%	5.6%	-20.9%	1.4%	-0.5%	9.1%	9.1%	0.3%	-28.1%	3.3%	11.5%	11.8%	6.3%	0.3%	17.6%	11.2%
Depreciation & Amortization	0M	1M	2M	2M	2M	3M	3M	4M	3M	2M	3M	2M	3M	2M	2M	2M	2M	2M	2M	2M	2M	2M	2M	2M	2M	1M	1M	2M	2M	2M	2M	1M
EBITDA	9M	8M	14M	7M	-2M	-5M	2M	-7M	0M	-10M	-5M	4M	7M	7M	7M	9M	5M	4M	-4M	-1M	-2M	4M	1M	1M	-11M	2M	9M	3M	-3M	-7M	4M	2M
EBITDA Margin	12.6%	13.5%	19.7%	12.9%	-5.6%	-10.4%	3.8%	-17.7%	0.0%	-25.2%	-9.7%	6.3%	8.6%	10.3%	10.3%	14.4%	10.2%	7.5%	-7.1%	-0.9%	-3.6%	6.8%	1.4%	1.8%	-34.5%	3.8%	17.9%	11.7%	-15.3%	-20.9%	15.1%	9.2%
NOPAT	20M	7M	23M	5M	-4M	-6M	-1M	-9M	-2M	-10M	-6M	1M	2M	3M	3M	8M	6M	4M	-5M	-2M	-3M	1M	-1M	-1M	-10M	0M	5M	1M	-4M	-7M	2M	1M
NOPAT Margin	29.2%	11.4%	32.8%	9.3%	-9.1%	-13.1%	-2.5%	-20.7%	-4.5%	-24.8%	-11.8%	1.0%	3.0%	4.4%	4.9%	11.8%	11.0%	7.9%	-8.9%	-2.5%	-5.2%	2.3%	-1.6%	-1.4%	-31.3%	0.2%	10.3%	2.7%	-20.5%	-22.5%	9.0%	3.7%
Owner's Earnings	18M	8M	24M	6M	-4M	-8M	2M	-8M	-2M	-23M	-7M	0M	2M	1M	4M	8M	6M	4M	-9M	1M	-1M	5M	5M	1M	-8M	1M	5M	5M	2M	2M	5M	4M
Owner's Earnings Margin	25.5%	13.0%	34.4%	11.3%	-9.9%	-15.6%	4.5%	-19.1%	-5.0%	-57.6%	-14.7%	0.1%	2.1%	1.5%	5.6%	12.9%	11.3%	7.5%	-18.0%	1.2%	-2.2%	8.6%	9.8%	1.8%	-25.7%	3.1%	10.5%	17.2%	11.1%	4.7%	19.4%	15.1%
EPS (Basic)	2.19	0.82	2.46	0.59	-0.59	-0.93	0.07	-1.10	-0.28	-2.69	-0.55	0.12	0.33	0.47	0.44	0.89	0.73	0.34	-1.33	0.10	-0.03	0.56	0.59	0.04	-1.06	0.17	0.69	0.41	0.16	0.01	0.66	0.41
EPS (Diluted)	2.17	0.82	2.48	0.59	-0.59	-0.93	0.07	-1.10	-0.28	-2.69	-0.55	0.11	0.32	0.46	0.43	0.86	0.72	0.33	-1.33	0.10	-0.03	0.55	0.58	0.02	-1.06	0.16	0.67	0.39	0.15	0.01	0.66	0.39
Shares (Basic)	10M	10M	10M	9M	9M	9M	9M	9M	9M	9M	9M	9M	9M	9M	8M	8M	8M	8M	8M	9M	9M	9M	8M	8M	8M	8M	8M	8M	8M	7M	7M	7M
Shares (Diluted)	10M	10M	10M	9M	9M	9M	9M	9M	9M	9M	9M	9M	9M	9M	9M	9M	8M	8M	8M	9M	9M	9M	9M	9M	8M	9M	8M	8M	8M	8M	7M	7M

Product Segments

Metric	TTM	TTM-1	2022-04-30	2021-04-30	2020-04-30	2019-04-30	2018-04-30	2017-04-30	2016-04-30	2015-04-30	2014-04-30	2013-04-30
Foreign Revenue	—	—	—	—	—	—	—	—	—	—	18.68M	17.72M
Frequency Electronics Inc New York	—	—	—	—	—	—	26.94M	39.49M	—	—	—	—
Frequency Electronics Inc Zyfer	—	—	—	—	—	—	15.27M	14.85M	12.29M	9.22M	—	—
FrequencyElectronicsIncNewYorkMember	9.76M	—	41.16M	—	—	—	—	—	—	—	—	—
FrequencyElectronicsIncZyferMember	0.49M	—	7.83M	—	—	—	—	—	—	—	—	—
Government Non Space Revenue	—	—	—	—	—	22.77M	—	—	—	—	—	—
GovernmentNonSpaceRevenueMember	14.90M	24.78M	—	24.78M	16.94M	—	—	—	—	—	—	—
Inter Segment	—	—	—	—	—	—	-2.80M	-3.99M	-2.07M	-2.58M	—	—
InterSegmentMember	-0.08M	—	-0.69M	—	—	—	—	—	—	—	—	—
Other Commercial Industrial Revenue	—	—	—	—	—	3.93M	—	—	—	—	—	—
Other Countries	—	—	—	—	—	—	—	—	—	—	2.49M	—
OtherCommercialIndustrialRevenueMember	2.36M	2.50M	—	2.50M	4.15M	—	—	—	—	—	—	—
Satellite Revenue	—	—	—	—	—	22.81M	—	—	—	—	—	—
SatelliteRevenueMember	20.87M	26.98M	—	26.98M	20.42M	—	—	—	—	—	—	—

Geographic Segments

Metric	TTM	TTM-1	2025-04-30	2021-04-30	2020-04-30	2019-04-30	2018-04-30	2017-04-30	2016-04-30	2015-04-30	2014-04-30	2013-04-30
BELGIUM	—	—	—	0.04M	—	0.05M	0.06M	0.17M	3.56M	3.97M	—	—
BRAZIL	—	—	—	0.11M	—	—	—	—	—	—	—	—
Belgium	—	—	—	—	—	—	—	—	—	—	5.72M	4.24M
CALIFORNIA	—	—	18.66M	—	—	—	—	—	—	—	—	—
CHINA	—	—	—	0.22M	—	0.36M	0.51M	1.05M	1.93M	4.49M	—	—
China	—	—	—	—	—	—	—	—	—	—	0.49M	0.57M
FRANCE	—	—	—	0.12M	—	0.04M	0.15M	0.51M	2.20M	10.94M	—	—
Foreign Revenue	—	—	—	—	—	1.36M	2.44M	4.50M	11.53M	23.56M	18.68M	—
ForeignRevenueMember	—	—	—	1.42M	1.77M	—	—	—	—	—	—	—
France	—	—	—	—	—	—	—	—	—	—	8.93M	9.53M
GERMANY	—	—	—	0.03M	—	0.04M	0.14M	0.01M	0.34M	1.08M	—	—
ISRAEL	—	—	—	—	—	—	0.01M	0.11M	1.14M	—	—	—
ITALY	—	—	—	0.03M	—	0.16M	0.11M	1.06M	—	—	—	—
KOREA, REPUBLIC OF	—	—	—	0.08M	—	0.00M	0.31M	0.91M	—	—	—	—
NEW YORK	—	—	69.81M	—	—	—	—	—	—	—	—	—
Other Countries	—	—	—	—	—	0.53M	0.46M	0.52M	1.51M	2.45M	2.49M	3.39M
OtherCountriesMember	—	—	—	0.32M	0.44M	—	—	—	—	—	—	—
Russia	—	—	—	—	—	—	0.30M	0.17M	0.85M	0.64M	1.05M	—
SINGAPORE	—	—	—	0.03M	—	0.22M	0.38M	—	—	—	—	—
TAIWAN, PROVINCE OF CHINA	—	—	—	0.10M	—	—	—	—	—	—	—	—

Balance Sheet

Metric	MRQ	MRQ-1	2025-04-30	2024-04-30	2023-04-30	2022-04-30	2021-04-30	2020-04-30	2019-04-30	2018-04-30	2017-04-30	2016-04-30	2015-04-30	2014-04-30	2013-04-30	2012-04-30	2011-04-30	2010-04-30	2009-04-30	2008-04-30	2007-04-30	2006-04-30	2005-04-30	2004-04-30	2003-04-30	2002-04-30	2001-04-30	2000-04-30	1999-04-30	1998-04-30	1997-04-30	1996-04-30
Cash & Cash Equivalents	2.99M	4.51M	4.72M	18.32M	-7.64M	11.56M	9.81M	3.81M	3.68M	7.87M	2.16M	6.08M	7.22M	7.70M	3.46M	4.78M	5.28M	9.95M	4.91M	11.03M	1.34M	2.64M	6.70M	5.70M	5.95M	5.38M	2.12M	4.99M	0.60M	8.70M	3.40M	15.90M
Short-Term Investments	0.00M	0.00M	0.00M	0.00M	19.69M	9.96M	10.31M	10.57M	8.20M	6.15M	7.82M	11.11M	11.19M	16.03M	18.27M	17.66M	15.36M	10.42M	10.00M	4.41M	14.27M	21.84M	23.53M	25.69M	27.83M	30.85M	33.41M	36.01M	0.00M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	2.99M	4.51M	4.72M	18.32M	12.05M	21.53M	20.12M	14.38M	11.88M	14.02M	9.98M	17.19M	18.41M	23.73M	21.73M	22.44M	20.63M	20.37M	14.91M	15.44M	15.60M	24.48M	30.23M	31.39M	33.78M	36.23M	35.53M	41.01M	0.60M	8.70M	3.40M	15.90M
Net Receivables	21.57M	21.65M	23.83M	15.14M	14.63M	13.15M	19.98M	11.35M	13.03M	9.36M	18.95M	19.54M	22.62M	18.18M	16.40M	18.07M	14.07M	12.17M	13.85M	19.98M	16.22M	15.94M	12.73M	15.28M	10.79M	13.05M	15.16M	9.59M	12.20M	18.60M	14.80M	13.40M
Inventory	24.68M	24.77M	23.49M	23.43M	20.53M	19.91M	19.66M	23.00M	23.36M	26.19M	29.05M	41.28M	38.24M	41.23M	37.15M	34.30M	28.17M	26.98M	26.05M	30.22M	31.20M	22.97M	22.95M	21.93M	17.73M	19.60M	20.47M	13.31M	9.70M	6.50M	11.10M	10.30M
Other Current Assets	1.68M	1.41M	1.07M	1.20M	0.03M	0.27M	0.44M	0.85M	1.85M	1.05M	10.77M	12.05M	3.06M	3.43M	4.69M	11.76M	2.58M	1.67M	2.19M	5.50M	3.08M	2.14M	2.27M	2.59M	4.44M	3.65M	4.31M	3.27M	42.20M	42.70M	22.40M	6.70M
Total Current Assets	50.92M	52.34M	53.11M	58.08M	47.24M	54.85M	60.20M	49.57M	50.12M	50.62M	68.75M	90.07M	82.33M	86.57M	79.97M	86.57M	65.46M	61.19M	57.01M	71.14M	66.10M	65.52M	68.18M	71.18M	66.74M	72.53M	75.47M	67.17M	64.70M	76.50M	51.70M	46.30M
Property, Plant & Equipment	14.90M	14.74M	14.85M	12.47M	14.48M	17.37M	19.39M	22.13M	13.04M	14.13M	14.81M	13.07M	12.69M	11.24M	8.32M	8.37M	7.16M	7.02M	7.96M	9.53M	7.84M	6.66M	6.77M	11.49M	11.11M	11.36M	12.00M	9.04M	9.50M	9.20M	9.10M	8.80M
Goodwill	0.62M	0.62M	0.62M	0.62M	0.62M	0.62M	0.62M	0.62M	0.62M	0.00M	0.00M	0.62M	0.62M	0.62M	0.62M	0.00M	14.07M	0.22M	0.22M	0.41M	0.45M	0.51M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.62M	0.62M	0.00M	0.00M	0.07M	0.17M	18.07M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.59M	0.62M	0.00M	4.94M	4.99M	0.00M	0.00M	0.00M	0.00M	0.00M
Long-Term Investments	1.38M	1.38M	1.37M	0.95M	0.00M	0.00M	0.00M	-21.10M	0.80M	0.00M	0.00M	-8.32M	-7.98M	-7.34M	10.76M	10.94M	13.15M	3.81M	12.85M	0.00M	0.00M	3.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Assets	0.00M	0.00M	12.05M	0.00M	16.28M	0.00M	0.00M	21.10M	-0.80M	0.00M	11.90M	7.70M	7.36M	6.65M	6.32M	5.69M	0.75M	0.00M	0.00M	2.99M	2.95M	2.84M	2.64M	0.59M	0.44M	0.28M	0.07M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Assets	24.43M	24.13M	11.76M	11.10M	-5.18M	10.76M	17.34M	17.29M	20.42M	16.77M	16.13M	22.83M	21.54M	20.36M	1.71M	1.06M	0.82M	9.73M	0.82M	13.01M	14.99M	6.96M	8.83M	7.13M	6.25M	5.55M	4.85M	4.63M	4.20M	3.10M	14.10M	13.70M
Other Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Assets	41.34M	40.86M	40.63M	25.13M	26.19M	28.75M	37.34M	40.04M	34.07M	31.51M	43.46M	35.90M	34.23M	31.60M	27.89M	44.14M	35.95M	20.78M	21.85M	25.94M	26.22M	19.98M	18.83M	19.83M	17.79M	22.13M	21.91M	13.67M	13.70M	12.30M	23.20M	22.50M
Total Assets	92.26M	93.20M	93.74M	83.22M	73.43M	83.60M	97.54M	89.61M	84.19M	82.13M	112.21M	125.97M	116.55M	118.17M	107.86M	130.71M	101.41M	81.97M	78.86M	97.07M	92.33M	85.50M	87.01M	91.00M	84.53M	94.66M	97.38M	80.85M	78.40M	88.80M	74.90M	68.80M
Accounts Payable	1.42M	1.10M	1.36M	2.35M	1.46M	1.08M	1.08M	1.42M	1.19M	1.84M	2.44M	3.17M	1.72M	2.34M	1.21M	2.64M	1.65M	1.72M	2.31M	2.22M	3.77M	2.20M	1.90M	3.47M	1.29M	2.36M	2.41M	1.02M	0.80M	1.30M	0.90M	1.40M
Short-Term Debt	2.08M	2.07M	2.03M	1.64M	1.75M	1.74M	1.72M	4.97M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.16M	6.38M	0.00M	0.25M	1.33M	5.17M	5.01M	0.00M	0.00M	3.41M	0.18M	0.38M	0.70M	0.00M	0.50M	0.50M	9.70M	0.80M
Tax Payables	0.23M	0.00M	0.82M	0.37M	0.03M	0.11M	0.17M	0.38M	0.16M	0.11M	0.13M	1.25M	1.01M	1.61M	1.32M	0.10M	0.88M	0.30M	0.89M	0.00M	-0.07M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Revenue	11.10M	0.00M	13.61M	21.64M	18.59M	12.22M	12.51M	-1.42M	0.00M	0.07M	0.23M	0.64M	0.72M	1.02M	1.62M	0.14M	0.55M	0.00M	0.00M	0.00M	3.98M	0.00M	0.00M	4.11M	3.62M	4.07M	7.23M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	6.49M	17.38M	1.92M	2.77M	3.01M	5.22M	0.77M	2.00M	2.64M	1.50M	3.71M	4.21M	2.98M	3.19M	3.87M	-0.47M	1.85M	1.22M	1.46M	-2.57M	2.75M	0.86M	4.04M	0.84M	0.83M	0.83M	3.20M	3.99M	3.60M	11.70M	3.70M	2.30M
Total Current Liabilities	21.31M	20.55M	19.73M	28.77M	24.84M	20.38M	16.24M	7.34M	3.99M	3.53M	6.51M	9.26M	6.43M	8.16M	8.17M	8.79M	4.94M	3.48M	5.98M	4.81M	15.43M	3.06M	5.93M	11.83M	5.92M	7.65M	13.53M	5.01M	4.90M	13.50M	14.30M	4.50M
Long-Term Debt	6.32M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	6.00M	6.00M	10.10M	6.00M	0.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.50M	1.70M	11.40M
Capital Lease Obligations	8.40M	6.29M	8.76M	6.19M	7.64M	9.10M	10.08M	11.31M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	6.16M	6.40M	0.46M	0.44M	2.01M	0.91M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	0.00M	0.00M	0.00M	0.00M	0.01M	0.01M	0.01M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	2.40M	0.00M	0.00M
Other Non-Current Liabilities	7.82M	7.88M	7.93M	8.10M	8.45M	8.85M	14.14M	14.60M	17.85M	15.07M	15.88M	12.52M	11.67M	11.32M	4.37M	10.16M	9.83M	9.62M	9.55M	10.32M	9.31M	9.12M	9.34M	17.61M	17.90M	17.80M	18.07M	16.85M	17.00M	16.00M	3.80M	3.50M
Total Non-Current Liabilities	22.53M	14.17M	16.69M	14.28M	16.09M	17.96M	24.23M	25.92M	17.85M	15.07M	15.88M	18.52M	17.67M	21.42M	16.53M	16.58M	10.28M	10.07M	11.56M	11.23M	9.31M	9.12M	9.34M	17.61M	17.90M	17.80M	18.07M	16.85M	17.00M	18.90M	5.50M	14.90M
Total Liabilities	43.84M	34.71M	36.42M	43.05M	40.93M	38.33M	40.47M	33.26M	21.83M	18.59M	22.38M	27.78M	24.09M	29.58M	24.71M	25.37M	15.22M	13.54M	17.54M	16.05M	24.75M	12.18M	15.27M	29.44M	23.83M	25.45M	31.61M	21.86M	21.90M	32.40M	19.80M	19.40M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock	9.82M	9.78M	9.72M	9.51M	9.37M	9.30M	9.23M	9.16M	9.16M	9.16M	9.16M	9.16M	9.16M	9.16M	9.16M	9.16M	9.16M	9.16M	9.16M	9.16M	9.16M	9.16M	9.16M	9.16M	9.16M	9.16M	9.16M	9.01M	0.00M	0.00M	0.00M	0.00M
Retained Earnings	6.09M	4.29M	3.66M	-20.03M	-25.62M	-20.12M	-11.46M	-12.14M	-2.11M	-0.07M	23.71M	28.53M	27.53M	24.70M	20.66M	18.66M	11.29M	5.27M	2.52M	13.56M	13.54M	15.53M	12.44M	8.90M	10.42M	20.94M	21.23M	17.24M	15.70M	16.00M	20.40M	16.30M
Accumulated OCI	0.00M	0.00M	0.00M	0.00M	0.00M	-0.44M	0.29M	0.49M	0.05M	-0.92M	2.28M	1.96M	2.89M	4.01M	3.91M	4.17M	5.19M	4.02M	3.46M	4.85M	3.12M	2.69M	4.90M	3.47M	1.39M	-0.03M	0.08M	-1.54M	0.00M	0.00M	0.00M	0.00M
Minority Interest	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.05M	0.20M	0.22M	0.23M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Shareholders’ Equity	15.91M	14.08M	13.38M	-10.52M	-16.25M	-11.26M	-1.94M	-2.48M	7.10M	8.18M	35.16M	39.66M	39.58M	37.88M	33.74M	31.99M	25.64M	18.45M	15.14M	27.57M	25.83M	27.38M	26.51M	21.53M	20.97M	30.07M	30.47M	24.71M	15.70M	16.00M	20.40M	16.30M
Total Equity	15.91M	14.08M	13.38M	-10.52M	-16.25M	-11.26M	-1.94M	-2.48M	7.10M	8.18M	35.16M	39.66M	39.58M	37.88M	33.74M	31.99M	25.64M	18.45M	15.14M	27.57M	25.83M	27.38M	26.51M	21.58M	21.16M	30.30M	30.70M	24.71M	15.70M	16.00M	20.40M	16.30M
Total Liabilities & Equity	59.76M	48.79M	49.80M	32.54M	24.68M	27.07M	38.53M	30.78M	28.93M	26.78M	57.54M	67.44M	63.67M	67.46M	58.45M	57.36M	40.86M	32.00M	32.68M	43.62M	50.57M	39.56M	41.77M	51.02M	44.99M	55.74M	62.31M	46.56M	37.60M	48.40M	40.20M	35.70M
Tangible Assets	91.64M	92.59M	93.12M	82.60M	72.81M	82.98M	96.92M	88.99M	83.57M	81.51M	111.60M	125.35M	115.94M	117.48M	107.08M	112.64M	87.33M	81.75M	78.64M	96.67M	91.87M	84.98M	86.42M	90.39M	84.53M	89.72M	92.39M	80.85M	78.40M	88.80M	74.90M	68.80M
Tangible Equity	15.30M	13.46M	12.76M	-11.13M	-16.86M	-11.88M	-2.56M	-3.10M	6.48M	7.57M	34.54M	39.04M	38.97M	37.19M	32.96M	13.92M	11.57M	18.24M	14.92M	27.17M	25.37M	26.87M	25.91M	20.96M	21.16M	25.36M	25.71M	24.71M	15.70M	16.00M	20.40M	16.30M
Tangible Book Value	15.30M	13.46M	12.76M	-11.13M	-16.86M	-11.88M	-2.56M	-3.10M	6.48M	7.57M	34.54M	39.04M	38.97M	37.19M	32.96M	13.92M	11.57M	18.24M	14.92M	27.17M	25.37M	26.87M	25.91M	20.96M	21.16M	25.36M	25.71M	24.71M	15.70M	16.00M	20.40M	16.30M
Total Investments	1.38M	1.38M	1.37M	0.95M	19.69M	9.96M	10.31M	-10.53M	9.00M	6.15M	7.82M	11.11M	3.21M	8.69M	29.03M	28.60M	28.50M	14.23M	22.85M	4.41M	14.27M	24.84M	23.53M	25.69M	27.83M	30.85M	33.41M	36.01M	0.00M	0.00M	0.00M	0.00M
Net Debt	5.41M	-2.45M	-2.69M	-16.68M	9.39M	-9.82M	-8.09M	1.16M	-3.68M	-7.87M	-2.16M	-0.08M	-1.22M	2.40M	2.70M	1.62M	-5.28M	-9.71M	-3.58M	-5.86M	3.68M	-2.64M	-6.70M	-2.29M	-5.77M	-5.00M	-1.42M	-4.99M	-0.10M	-7.70M	8.00M	-3.70M

Capital Metrics

Metric	MRQ	MRQ-1	2025-04-30	2024-04-30	2023-04-30	2022-04-30	2021-04-30	2020-04-30	2019-04-30	2018-04-30	2017-04-30	2016-04-30	2015-04-30	2014-04-30	2013-04-30	2012-04-30	2011-04-30	2010-04-30	2009-04-30	2008-04-30	2007-04-30	2006-04-30	2005-04-30	2004-04-30	2003-04-30	2002-04-30	2001-04-30	2000-04-30	1999-04-30	1998-04-30	1997-04-30	1996-04-30
Working Capital	31.3M	29.6M	29.7M	27.3M	21.0M	33.0M	40.6M	38.3M	46.9M	46.8M	61.7M	75.6M	75.2M	78.2M	71.4M	63.2M	60.1M	53.3M	48.0M	58.9M	54.0M	59.8M	59.7M	61.0M	62.0M	66.2M	66.6M	62.2M	59.8M	63.0M	37.4M	41.8M
Total Capital	66.9M	64.7M	64.4M	46.0M	40.5M	55.8M	65.5M	70.6M	63.1M	63.3M	89.3M	99.4M	97.8M	98.4M	99.3M	85.5M	82.2M	64.1M	61.2M	79.7M	75.9M	70.6M	69.2M	66.6M	61.9M	70.7M	70.9M	59.0M	57.0M	57.4M	66.5M	61.6M
Capital Employed	72.6M	70.5M	70.3M	52.5M	47.2M	62.9M	65.4M	78.3M	80.9M	78.3M	105.2M	111.5M	109.5M	109.8M	99.3M	90.1M	82.2M	74.1M	69.9M	84.8M	80.2M	79.8M	78.5M	80.8M	79.8M	88.4M	88.5M	75.8M	73.5M	75.3M	60.6M	64.3M
Invested Capital	63.9M	60.2M	59.7M	27.7M	48.2M	44.2M	55.7M	66.7M	59.4M	55.4M	87.2M	93.3M	90.6M	90.7M	95.9M	80.7M	76.9M	54.1M	56.3M	68.7M	74.6M	68.0M	62.5M	60.9M	55.9M	65.3M	68.8M	54.0M	56.4M	48.7M	63.1M	45.7M

Cash Flow Statement

Metric	TTM	TTM-1	2025-04-30	2024-04-30	2023-04-30	2022-04-30	2021-04-30	2020-04-30	2019-04-30	2018-04-30	2017-04-30	2016-04-30	2015-04-30	2014-04-30	2013-04-30	2012-04-30	2011-04-30	2010-04-30	2009-04-30	2008-04-30	2007-04-30	2006-04-30	2005-04-30	2004-04-30	2003-04-30	2002-04-30	2001-04-30	2000-04-30	1999-04-30	1998-04-30	1997-04-30	1996-04-30
Net Income	21.04M	7.84M	23.69M	5.59M	-5.50M	-8.66M	0.68M	-10.03M	-2.53M	-23.78M	-4.82M	1.01M	2.83M	4.04M	3.69M	7.37M	6.02M	2.75M	-11.04M	0.89M	-0.26M	4.80M	5.04M	0.16M	-8.86M	1.38M	5.64M	3.14M	1.20M	0.10M	4.90M	2.80M
Depreciation & Amortization	2.06M	2.12M	2.06M	2.12M	2.43M	3.03M	3.30M	3.32M	2.80M	2.48M	2.64M	2.71M	2.94M	2.47M	2.41M	2.24M	1.94M	1.94M	2.17M	1.97M	1.73M	1.87M	2.01M	2.10M	1.60M	1.46M	1.45M	2.10M	2.30M	2.40M	1.60M	1.30M
Deferred Income Tax	-12.05M	0.00M	-12.05M	0.00M	0.27M	0.00M	1.39M	0.01M	3.36M	9.64M	-1.36M	-1.27M	-0.72M	-0.16M	-0.32M	-3.10M	-3.55M	0.75M	6.08M	-0.82M	-1.31M	0.89M	-2.61M	0.41M	-0.25M	0.36M	-1.41M	0.00M	0.00M	-2.60M	0.00M	0.00M
Stock-Based Compensation	1.16M	0.82M	1.16M	0.82M	0.20M	0.25M	0.27M	0.31M	0.50M	0.47M	0.66M	0.82M	1.08M	1.11M	0.95M	0.86M	0.48M	0.56M	0.57M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	-5.10M	3.97M	-19.19M	-0.11M	1.65M	7.32M	6.80M	2.19M	-4.30M	8.64M	-2.93M	-1.23M	-5.20M	-4.22M	-6.89M	-7.98M	-5.30M	-0.10M	5.50M	-2.33M	-8.33M	-7.05M	4.44M	-5.48M	0.26M	1.12M	-4.85M	-1.80M	-5.70M	4.20M	-2.70M	1.30M
Accounts Receivable	-9.01M	-0.36M	-9.01M	0.01M	-0.33M	1.57M	-0.75M	1.97M	-2.99M	5.90M	-3.60M	-1.72M	-3.21M	-1.63M	0.47M	-4.52M	-1.61M	2.36M	5.72M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	-1.30M	-3.82M	-1.30M	-3.82M	-1.22M	-0.46M	3.00M	0.02M	-0.20M	-2.11M	2.17M	-3.31M	1.27M	-3.10M	-6.02M	-4.24M	-1.75M	-2.01M	-1.33M	0.71M	-9.01M	-0.90M	-1.53M	-3.04M	-1.12M	0.55M	-4.61M	-3.75M	-3.20M	0.00M	-0.80M	0.20M
Accounts Payable	0.00M	0.00M	-0.99M	0.88M	0.38M	0.00M	-0.21M	0.37M	-0.20M	0.38M	-0.75M	1.18M	0.03M	0.61M	-0.50M	0.88M	-0.53M	0.81M	0.33M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	5.21M	8.15M	-7.89M	2.82M	2.81M	6.21M	4.75M	-0.18M	-0.91M	4.46M	-0.76M	2.62M	-3.29M	-0.10M	-0.84M	-0.09M	-1.41M	-1.27M	0.78M	-3.04M	0.68M	-6.15M	5.96M	-2.45M	1.38M	0.57M	-0.24M	1.95M	-2.50M	4.20M	-1.90M	1.10M
Other Non-Cash Items	-10.24M	-0.72M	2.91M	0.28M	2.13M	2.11M	-0.28M	2.80M	0.07M	7.08M	9.70M	0.88M	0.96M	0.40M	3.00M	2.74M	2.30M	1.74M	3.94M	2.26M	0.56M	0.80M	-6.34M	0.24M	9.69M	0.00M	3.12M	0.10M	0.40M	-0.90M	0.20M	1.60M
Net Cash from Operating Activities	-3.14M	14.04M	-1.43M	8.71M	1.18M	4.04M	12.16M	-1.41M	-0.10M	4.53M	3.89M	2.92M	1.88M	3.64M	2.83M	2.14M	1.88M	7.63M	7.22M	-1.85M	-6.65M	-2.50M	2.54M	-2.57M	2.45M	4.90M	3.95M	3.54M	-1.80M	3.20M	4.00M	7.00M
Capital Expenditures (PPE)	-2.68M	-1.98M	-1.81M	-1.49M	-0.92M	-1.86M	-1.24M	-1.48M	-2.77M	-1.42M	-5.23M	-3.44M	-4.16M	-5.41M	-2.25M	-1.40M	-1.95M	-0.98M	-0.63M	-2.11M	-2.71M	-2.10M	-1.64M	-1.34M	-0.83M	-1.54M	-1.93M	-0.67M	-1.40M	-1.00M	-1.10M	-0.30M
Acquisitions (Net)	0.00M	0.00M	0.00M	0.00M	-9.59M	0.42M	1.24M	1.48M	2.77M	0.19M	5.23M	3.44M	4.16M	5.41M	2.25M	-4.48M	1.95M	0.98M	0.63M	0.00M	0.00M	-0.08M	-0.14M	-2.54M	0.00M	0.00M	-8.14M	0.00M	0.00M	6.60M	0.00M	0.00M
Purchases of Investments	0.00M	0.00M	0.00M	0.00M	-1.38M	-2.51M	-2.45M	-5.49M	-3.71M	-4.96M	-0.58M	-1.36M	-1.96M	-3.16M	-2.84M	-8.78M	-8.77M	-1.00M	-6.60M	-3.14M	-1.49M	-11.52M	-6.39M	-6.05M	-7.38M	-21.15M	-4.32M	-24.61M	-22.90M	-13.00M	-25.90M	0.00M
Sales / Maturities of Investments	0.00M	0.00M	0.00M	0.00M	10.97M	2.09M	2.50M	3.54M	1.81M	6.48M	4.40M	1.27M	7.27M	4.99M	3.01M	6.64M	4.00M	1.51M	1.04M	18.57M	9.57M	13.07M	12.51M	10.44M	8.60M	23.62M	9.38M	27.47M	20.60M	9.60M	10.50M	5.90M
Other Investing Activities	0.33M	0.00M	0.00M	0.00M	9.59M	-0.42M	-1.24M	-1.48M	-2.77M	0.06M	-5.27M	-3.44M	-4.16M	-5.41M	-2.18M	0.02M	-1.95M	-1.07M	-0.85M	0.00M	-3.32M	0.96M	-0.76M	0.03M	0.12M	-0.31M	0.00M	0.00M	0.00M	-0.10M	0.00M	0.50M
Net Cash from Investing Activities	-2.35M	-1.98M	-1.81M	-1.49M	8.67M	-2.28M	-1.19M	-3.43M	-4.66M	0.34M	-1.45M	-3.53M	1.16M	-3.57M	-2.01M	-8.00M	-6.72M	-0.55M	-6.41M	13.32M	2.05M	0.32M	3.58M	0.53M	0.51M	0.61M	-5.00M	2.19M	-3.70M	2.10M	-16.50M	6.10M
Net Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-4.97M	4.97M	0.00M	0.00M	-6.00M	0.00M	-4.10M	4.09M	-0.36M	5.68M	-0.26M	-1.40M	-4.29M	-0.15M	5.00M	-0.01M	-3.72M	2.98M	-0.63M	-0.66M	-0.93M	-0.70M	-0.70M	-1.40M	-0.50M	-0.70M
Long-Term Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	4.97M	0.00M	0.00M	-6.00M	0.00M	-4.10M	4.10M	5.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	2.98M	-0.63M	-0.66M	-0.93M	-0.70M	-0.70M	-1.40M	-0.50M	-0.70M
Short-Term Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-4.97M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.02M	-5.36M	5.68M	-0.26M	-1.40M	-4.29M	-0.15M	5.00M	-0.01M	-3.72M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	-0.42M	-0.16M	-0.38M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-3.11M	-0.15M	0.29M	0.14M	0.11M	0.15M	-0.43M	0.10M	0.72M	-0.78M	-0.40M	0.90M	0.50M	-0.70M
Common Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.16M	0.29M	0.14M	0.18M	0.15M	0.07M	0.10M	0.72M	0.76M	0.10M	0.90M	0.50M	0.00M
Common Stock Repurchased	0.00M	0.00M	-0.38M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-3.11M	-0.31M	0.00M	0.00M	-0.07M	0.00M	-0.50M	0.00M	0.00M	-1.53M	-0.50M	0.00M	0.00M	-0.70M
Preferred Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.16M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	0.16M	-9.57M	-9.57M	0.00M	-9.35M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-1.68M	0.00M	0.00M	0.00M	0.00M	-1.74M	-1.72M	-1.71M	-1.69M	-1.67M	-1.66M	-1.66M	-1.63M	0.00M	-1.50M	-1.50M	0.00M	0.00M
Common Dividends Paid	9.73M	-9.57M	-9.57M	0.00M	-9.35M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-1.68M	0.00M	0.00M	0.00M	0.00M	-1.74M	-1.72M	-1.71M	-1.69M	-1.67M	-1.66M	-1.66M	-1.63M	0.00M	-1.50M	-1.50M	0.00M	0.00M
Preferred Dividends Paid	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-0.91M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.67M	0.14M	0.20M	0.18M	0.17M	0.02M	0.11M	0.00M	0.00M	0.00M	0.00M	0.00M	0.02M	0.00M	0.00M	0.00M	0.00M	0.17M	0.00M	2.00M	0.50M	0.00M
Net Cash from Financing Activities	-1.17M	-9.73M	-9.94M	0.00M	-9.35M	0.00M	-4.97M	4.97M	0.00M	0.06M	-6.67M	0.14M	-3.90M	4.27M	-1.87M	5.71M	-0.15M	-1.40M	-7.40M	-2.04M	3.58M	-1.57M	-5.28M	1.46M	-2.73M	-2.23M	-1.84M	-1.31M	-2.60M	1.40M	0.50M	-1.40M
Effect of FX on Cash	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.61M	0.26M	0.89M	-0.68M	0.38M	-0.10M	-0.27M	-0.34M	0.32M	-0.64M	0.47M	0.26M	-0.28M	-0.30M	0.16M	0.32M	0.34M	-0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Change in Cash	-6.66M	2.33M	-13.18M	7.22M	0.49M	1.75M	6.00M	0.13M	-4.15M	5.13M	-3.34M	-1.14M	-0.48M	4.24M	-1.32M	-0.49M	-4.68M	5.04M	-6.12M	9.69M	-1.30M	-4.06M	1.00M	-0.25M	0.57M	3.26M	-2.89M	4.43M	-8.10M	6.70M	-12.00M	11.70M
Cash at Beginning of Period	29.88M	57.05M	19.27M	12.05M	11.56M	9.81M	3.81M	3.68M	7.87M	2.74M	6.08M	7.22M	7.70M	3.46M	4.78M	5.28M	9.95M	4.91M	11.03M	1.34M	2.64M	6.70M	5.70M	5.95M	5.38M	2.12M	0.02M	0.57M	8.70M	3.40M	15.90M	4.30M
Cash at End of Period	23.22M	59.38M	6.09M	19.27M	12.05M	11.56M	9.81M	3.81M	3.72M	7.87M	2.74M	6.08M	7.22M	7.70M	3.46M	4.78M	5.28M	9.95M	4.91M	11.03M	1.34M	2.64M	6.70M	5.70M	5.95M	5.38M	-2.87M	4.99M	0.60M	10.10M	3.90M	16.00M
Operating Cash Flow	-3.14M	14.04M	-1.43M	8.71M	1.18M	4.04M	12.16M	-1.41M	-0.10M	4.53M	3.89M	2.92M	1.88M	3.64M	2.83M	2.14M	1.88M	7.63M	7.22M	-1.85M	-6.65M	-2.50M	2.54M	-2.57M	2.45M	4.90M	3.95M	3.54M	-1.80M	3.20M	4.00M	7.00M
Capital Expenditure	-3.20M	-1.13M	-1.81M	-1.49M	-0.92M	-1.86M	-1.24M	-1.48M	-2.77M	-1.42M	-5.23M	-3.44M	-4.16M	-5.41M	-2.25M	-1.40M	-1.95M	-0.98M	-0.63M	-2.11M	-2.71M	-2.10M	-1.64M	-1.34M	-0.83M	-1.54M	-1.93M	-0.67M	-1.40M	-1.00M	-1.10M	-0.30M
Free Cash Flow	-6.34M	12.91M	-3.24M	7.22M	0.26M	2.18M	10.92M	-2.89M	-2.86M	3.12M	-1.35M	-0.51M	-2.28M	-1.76M	0.58M	0.75M	-0.07M	6.66M	6.60M	-3.95M	-9.36M	-4.61M	0.90M	-3.91M	1.61M	3.35M	2.02M	2.88M	-3.20M	2.20M	2.90M	6.70M

Free Cash Flow

Metric	TTM	TTM-1	2025-04-30	2024-04-30	2023-04-30	2022-04-30	2021-04-30	2020-04-30	2019-04-30	2018-04-30	2017-04-30	2016-04-30	2015-04-30	2014-04-30	2013-04-30	2012-04-30	2011-04-30	2010-04-30	2009-04-30	2008-04-30	2007-04-30	2006-04-30	2005-04-30	2004-04-30	2003-04-30	2002-04-30	2001-04-30	2000-04-30	1999-04-30	1998-04-30	1997-04-30	1996-04-30
EBITDA	8.83M	8.10M	13.79M	7.14M	-2.28M	-5.03M	2.06M	-7.35M	-0.02M	-9.91M	-4.89M	3.80M	6.62M	7.34M	7.09M	9.17M	5.43M	3.69M	-3.75M	-0.61M	-2.00M	3.58M	0.75M	0.88M	-4.73M	0.05M	6.26M	5.20M	-0.60M	-4.30M	5.80M	3.60M
(-) Tax Adjustment	0.00M	0.13M	0.00M	0.00M	0.00M	0.00M	0.00M	-1.09M	0.00M	0.00M	-1.47M	1.33M	2.32M	2.57M	1.95M	0.00M	0.00M	0.00M	0.00M	-0.21M	-0.70M	0.99M	0.22M	0.31M	-0.79M	0.01M	1.97M	1.50M	-0.15M	-1.51M	0.23M	0.24M
(-) Change In Working Capital	-5.10M	3.97M	-19.19M	-0.11M	1.65M	7.32M	6.80M	2.19M	-4.30M	8.64M	-2.93M	-1.23M	-5.20M	-4.22M	-6.89M	-7.98M	-5.30M	-0.10M	5.50M	-2.33M	-8.33M	-7.05M	4.44M	-5.48M	0.26M	1.12M	-4.85M	-1.80M	-5.70M	4.20M	-2.70M	1.30M
(-) Capital Expenditure	-3.20M	-1.13M	-1.81M	-1.49M	-0.92M	-1.86M	-1.24M	-1.48M	-2.77M	-1.42M	-5.23M	-3.44M	-4.16M	-5.41M	-2.25M	-1.40M	-1.95M	-0.98M	-0.63M	-2.11M	-2.71M	-2.10M	-1.64M	-1.34M	-0.83M	-1.54M	-1.93M	-0.67M	-1.40M	-1.00M	-1.10M	-0.30M
Unlevered Free Cash Flow	10.73M	2.22M	31.17M	5.76M	-4.84M	-14.21M	-5.97M	-9.93M	1.52M	-19.96M	-5.72M	0.27M	5.35M	3.59M	9.78M	15.75M	8.77M	2.81M	-9.88M	-0.17M	4.32M	7.54M	-5.55M	4.71M	-5.04M	-2.62M	7.21M	4.83M	3.85M	-8.00M	7.17M	1.76M
(-) Net Interest Income After Taxes	0.17M	-0.10M	0.42M	-0.11M	-0.16M	-0.08M	-0.13M	-0.09M	-0.08M	-0.08M	-0.10M	-0.09M	-0.09M	-0.10M	0.34M	-0.12M	0.28M	0.35M	-0.29M	-0.34M	0.00M	0.00M	-0.21M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-4.97M	4.97M	0.00M	0.00M	-6.00M	0.00M	-4.10M	4.09M	-0.36M	5.68M	-0.26M	-1.40M	-4.29M	-0.15M	5.00M	-0.01M	-3.72M	2.98M	-0.63M	-0.66M	-0.93M	-0.70M	-0.70M	-1.40M	-0.50M	-0.70M
Levered Free Cash Flow	10.56M	2.32M	30.75M	5.87M	-4.68M	-14.13M	-10.81M	-4.88M	1.60M	-19.89M	-11.62M	0.35M	1.34M	7.77M	9.08M	21.56M	8.23M	1.07M	-13.88M	0.02M	9.32M	7.53M	-9.06M	7.69M	-5.67M	-3.28M	6.28M	4.13M	3.15M	-9.40M	6.67M	1.06M