Company: SIF
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0000090168-25-000012
Chunk: 12

Company: SIFCO INDUSTRIES INC
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 12
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 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 three months ended December 31, 2024 and 2023. 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 December 31, 2024 was $121.9 million, of which $90.1 million are anticipated to be complete within the next 12 months, compared with total backlog of $104.8 million as of December 31, 2023. 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 December 31, 2024 compared with Three Months Ended December 31, 2023

Net Sales

Net sales comparative information for the first three months of fiscal 2025 and 2024 is as follows:

  (Dollars in millions)                             Three Months Ended                                    Increase/ (Decrease)           
                                                          December 31,                                                                   
                                                                  2024                2023                                               
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Aerospace components for:                                                                                                              
  Fixed wing aircraft                                                $      12.8         $       9.9      $                         2.9  
  Rotorcraft                                                       3.4                 3.2                0.2                            
  Commercial space                                                 2.5                 1.4                1.1                            
  Energy components for power generation units                     1.0                 0.6                0.4                            
  Commercial product and other revenue                             1.2                 0.4                0.8                            
  Total                                                              $      20.9         $      15.5      $                         5.4  

Net sales for the first three months of fiscal 2025 increased $5.4 million to $20.9 million, compared with $15.5 million in the comparable period of fiscal 2024. Fixed wing