Core sales improved 13% year over year, with product sales up 15% and service revenues up 3%.
Gross profit rose 13.9% Y/Y to $67.9 million with a gross margin of 48.7%.
Operating margin was 8.8% and operating income for the quarter rose 92.1% to $12.3 million.
The company held $129.2 million in cash and equivalents as of November 30, 2022. Net debt at November 30, 2022, was approximately $73 million.
The company generated cash flow from operations of $18 million and free cash flow of $16 million.
Adjusted EPS of $0.29 beat the analyst consensus of $0.27.
Outlook: EPAC said it is not making any changes to its fiscal 2023 guidance announced in September. It continues to expect full-year net sales of $565 million - $585 million and an adjusted EBITDA range of $113 million - $123 million, including an ASCEND EBITDA benefit of $12 million - $18 million.
Price Action: EPAC shares are trading higher by 7.31% at $25.70 in premarket on the last check Wednesday.
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