### Key Financial Metrics:
- Revenue: $19.7 million, up 31% YoY.
- Gross Profit: $9.8 million, a 29% increase YoY, resulting in a gross margin of 50%.
- Operating Income: $1.2 million, a 73% increase YoY.
- Net Income: $1.4 million, a 127% increase YoY.
- EPS: $0.0099, a significant increase from $0.0040 YoY.
- Backlog: $9.1 million, up 7% from the previous year.
- Research and Development Expenses: Increased by 34% to $2.9 million, reflecting a commitment to innovation.
Management attributed the revenue growth and high backlog levels to strategic shifts, particularly the introduction of larger, customized production systems which have resulted in higher average selling prices reaching up to $1 million. This trend is expected to accelerate in FY 2025 with estimated revenue growth between 8%-10%.