Espey Mfg. & Electronics Corp. reported third quarter net sales of $11.4 million, up from $10.3 million last year, and net income of $2.86 million, or $0.99 per share, compared to $1.7 million, or $0.63 per share, in the same quarter last year. However, year-to-date sales fell slightly to $32.7 million from $34.4 million, while net income rose to $7.84 million, or $2.74 per share, from $5.21 million. The company highlighted improved margins driven by revenue growth, better product mix, and cost efficiencies. Despite a drop in new orders to $30 million from $75.1 million last year, Espey remains confident in delivering strong full-year results, supported by a backlog of $137.1 million as of March 31, 2026.
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Lockheed Martin Ventures, the $1 billion venture capital arm of Lockheed Martin, is expanding into the UK and Europe with a new London office. It plans to invest at least $100 million in defense technology startups to strengthen transatlantic defense...
