Company: SIF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0000090168-25-000025
Chunk: 16

Company: SIFCO INDUSTRIES INC
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 16
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 joint stock company and wholly-owned subsidiary of the Company (“ CBlade”), for cash consideration.

As a result of the sale transaction, the Company’s financial statements have been prepared with the net assets of CBlade presented as held for sale as of September 30, 2024, and the results of operations and cash flows of CBlade have been presented as discontinued operations for the six months ended March 31, 2025 and 2024. All historical statements, amounts and related

disclosures have been retrospectively adjusted to conform to this presentation. Refer to Note 2 - Discontinued Operations of the Notes to Unaudited Consolidated Condensed Financial Statements.

Backlog of Orders

SIFCO’s total backlog as of March 31, 2025 was $129.2 million, of which $98.9 million are anticipated to be complete within the next 12 months, compared with total backlog of $122.9 million as of March 31, 2024. Orders may be subject to modification or cancellation by the customer with limited charges. Recovery in the aerospace markets was the primary contributor to the increased bookings. Backlog information may not be indicative of future sales.

Three Months Ended March 31, 2025 compared with Three Months Ended March 31, 2024

Net Sales

Net sales comparative information for the second quarter of fiscal 2025 and 2024 is as follows:

  (Dollars in millions)                             Three Months Ended                                    Increase/ (Decrease)             
                                                             March 31,                                                                     
                                                                  2025                2024                                                 
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Aerospace components for:                                                                                                                
  Fixed wing aircraft                                                $      14.4         $      10.1      $                           4.3  
  Rotorcraft                                                       2.9                 4.2                (1.3)                            
  Commercial space                                                 0.6                 4.0                (3.4)                            
  Energy components for power generation units                     0.7                 0.4                0.3                              
  Commercial product and other revenue                             0.4                 1.8                (1.4)                            
  Total                                                              $      19.0         $      20.5      $                         (1.5)  

Net sales for the second quarter of fiscal 2025 decreased $1.5 million to $