Earnings release
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STANDEX REPORTS FISCAL FOURTH QUARTER AND FISCAL YEAR 2026 FINANCIALRESULTS In Q4 FY26, Sales of $228.3 Million Increased 7.7% YOY Organically; Electronics Increased 12.9% YOY OrganicallyNew Products Sales Grew 43% and Sales into Fast Growth Markets Contributed 31% of Total SalesRecord Order Intake of ~$270 Million; Book to Bill of 1.18: Electronics Book to Bill at 1.27Q4 FY26 GAAP EPS of $1.69; Record Adjusted EPS of $2.45, Up 7.4% YOYIn FY26, Sales Increased >$100 Million and 5.5% Organically; GAAP EPS of $8.68; Record Adjusted EPS of $8.74, up 9.6% YOY;Record Adjusted Gross Margin and Adjusted Operating MarginIn FY27, Expect High Single-Digit to Low Double-Digit Organic Growth; Expect to Launch >20 New Products; Fast Growth MarketSales Expected to Grow ~20% SALEM, N.H., July 30, 2026 /PRNewswire/ -- Standex International Corporation (NYSE: SXI) today reported financial results for the fourth quarterof fiscal year 2026 ended June 30, 2026. Summary Financial Results - Total ($M except EPS and Dividends)4Q264Q253Q26 Y/Y Q/Q Net Sales $228.3$222.0$224.62.8 % 1.6 % Operating Income – GAAP$37.5$34.7$90.88.1 %-58.7 % Operating Income – Adjusted $45.4$45.8$44.2-0.8 %2.6 % Operating Margin % - GAAP16.5 %15.6 %40.4 %80 bps- 2,390 bps Operating Margin % - Adjusted 19.9 %20.6 %19.7 %- 70 bps+ 20 bps Net Income from Continuing Ops – GAAP$23.6$15.5$68.652.5 %-65.6 % Net Income from Continuing Ops – Adjusted$29.7$27.5$26.77.8 %11.2 % EBITDA $48.1$45.2$99.47.2 %-51.7 % EBITDA margin 21.1 %20.4 %44.3 %+ 70 bps- 2,320 bps Adjusted EBITDA $51.5$51.6$48.4-5.1 %6.4 % Adjusted EBITDA margin 22.6 %23.2 %21.6 %- 60 bps+ 100 bps Diluted EPS – GAAP $1.69$1.23$5.5637.7 %-69.6 % Diluted EPS – Adjusted $2.45$2.28$2.217.4 %10.9 % Dividends per Share $0.34$0.32$0.346.3 % 0.0 % Free Cash Flow $35.0$24.9$6.340.7 %454.0 % Net Debt to EBITDA 1.8x 2.6x 1.9x-30.8 %-5.3 % Commenting on the quarter's results, President and Chief Executive Officer David Dunbar said, "We concluded our fiscal year with a strongperformance in the fourth quarter. We delivered 7.7% organic growth with a book to bill of 1.18, led by our Electronics segment which grew 12.9%organically with a book to bill of 1.27. Sales from fast growth markets totaled approximately $72 million in the fiscal fourth quarter andapproximately $264 million for the fiscal year. Adjusted earnings per share increased 7.4% to a record $2.45. Our net leverage ratio was reducedto 1.8x. In fiscal year 2026, sales increased by more than $100 million with organic growth of 5.5%. Building on record profitability in fiscal year 2025, weset several new records in fiscal year 2026 with adjusted gross margin of 42.0%, adjusted operating income of $173.3 million, adjusted operatingmargin of 19.4%, and adjusted earnings per share of $8.74. We remain confident in our long-term operating margin potential as we leverageorganic growth, driven by our fast growth end markets and higher sales contribution from new products. On July 2nd, we acquired the remaining 9.9% interest in Narayan for approximately $64 million. The integration of Narayan and Amran continuesto progress smoothly, and our internal teams remain fully focused on meeting customer demand now and in the future." Fiscal First Quarter 2027 Outlook In fiscal first quarter 2027, on a year-on-year basis, the Company expects moderately higher revenue, driven by high single-digit to low double-digit organic growth from higher sales into fast growth end markets and increased new product sales, partially offset by the divestiture of FederalIndustries. The Company expects slightly to moderately higher adjusted operating margin as contributions from organic growth and realization ofproductivity actions are partially offset by growth investments. On a sequential basis, the Company expects slightly higher revenue, driven by increased contributions from fast growth end markets and newproduct sales, and similar adjusted operating margin. Fiscal Year 2027 Outlook
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For fiscal year 2027, the Company expects mid-to-high single digit sales growth driven by high-single digit to low-double digit organic growth,partially offset by the impact of the Federal Industries divestiture and unfavorable foreign exchange. The Company expects continued adjustedoperating margin expansion. The Company plans to release more than 20 new products, which are expected to contribute approximately 300 bps of incremental growth. Salesfrom fast growth markets are on track to grow approximately 20% year-on-year to greater than $310 million. Fourth Quarter Segment Operating Performance Electronics (57% of sales; 63% of segment adjusted operating income) 4Q264Q25% Change Electronics ($M) Revenue 129.1115.2 12.1 % GAAP Operating Income31.628.0 12.9 % GAAP Operating Margin %24.524.3 Adjusted Operating Income35.132.9 6.7 % Adjusted Operating Margin %27.228.5 Revenue increased approximately $13.9 million or 12.1% year-on-year, reflecting organic growth of 12.9%, partially offset by a foreign currencyimpact of 0.8%. Organic growth was driven by higher sales into fast growth markets and increased new product sales. Adjusted operating incomeincreased approximately $2.2 million or 6.7% year-on-year due to higher volume and pricing initiatives, partially offset by growth investments andunfavorable mix from transitory operational issues in the Edge business. The segment had a book-to-bill ratio of approximately 1.27 in the fiscal fourth quarter, with orders of approximately $165 million. In fiscal first quarter 2027, on a sequential basis, the Company expects slightly higher revenue, reflecting higher sales into fast growth end marketsand increased new product sales, and moderately higher adjusted operating margin. Aerospace & Defense (17% of sales; 15% of segment adjusted operating income) 4Q264Q25% Change Aerospace & Defense ($M) Revenue 37.932.0 18.3 % GAAP Operating Income8.14.3 88.4 % GAAP Operating Margin %21.413.5 Adjusted Operating Income8.55.9 44.8 % Adjusted Operating Margin %22.518.4 Revenue increased approximately $5.9 million or 18.3% year-on-year reflecting organic growth of 18.4% and a foreign currency impact of 0.1%.Organic growth was primarily driven by increased project activity in the defense end market. Adjusted operating income increased approximately$2.6 million or 44.8% year-on-year reflecting higher volume and project mix. In fiscal first quarter 2027, on a sequential basis, the Company expects moderately lower revenue due to less favorable project timing, andmoderately lower adjusted operating margin. Scientific (8% of sales; 10% of segment adjusted operating income) 4Q264Q25% Change Scientific ($M) Revenue 18.817.9 5.0 % GAAP Operating Income5.24.1 25.6 % GAAP Operating Margin %27.422.9 Adjusted Operating Income5.44.3 23.9 % Adjusted Operating Margin %28.624.3 Revenue increased approximately $0.9 million or 5.0% year-on-year reflecting organic growth of 5.0%. Organic growth was driven by pricinginitiatives and a slight market recovery. Adjusted operating income increased approximately $1.1 million or 23.9% year-on-year reflecting highersales and tariff refunds. In fiscal first quarter 2027, on a sequential basis, the Company expects moderately higher revenue and similar adjusted operating margin. Engraving & Hydraulics (19% of sales; 12% of segment adjusted operating income) 4Q264Q25% Change
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Engraving & Hydraulics ($M) Revenue 42.447.0 -9.7 % GAAP Operating Income6.47.0 -7.9 % GAAP Operating Margin %15.214.9 Adjusted Operating Income6.77.4 -8.5 % Adjusted Operating Margin %15.815.7 Revenue decreased approximately $4.6 million or 9.7% year-on-year reflecting an organic decline of 9.6% from general market weakness and aforeign currency impact of 0.1%. Adjusted operating income decreased approximately $0.6 million or 8.5% year-on-year. In fiscal first quarter 2027, on a sequential basis, the Company expects slightly to moderately higher revenue and similar to slightly higher adjustedoperating margin. Capital Allocation Interest: In fiscal first quarter 2027, the Company expects interest expense of approximately $7.0 million. Share Repurchase: During the fiscal fourth quarter of 2026, the Company did not repurchase shares. There was approximately $28 millionremaining on the Company's current share repurchase authorization at the end of the fiscal fourth quarter 2026. Capital Expenditures: In fiscal fourth quarter 2026, the Company's capital expenditures were $5.5 million compared to $8.6 million in thefiscal fourth quarter of 2025. Capital expenditures were $28.6 million in fiscal year 2026. The Company expects fiscal year 2027 capitalexpenditures between $45 million and $55 million. The increase over fiscal year 2026 is primarily due to capacity expansion within StandexElectronics Grid. Dividend: On July 23, 2026, the Company declared a quarterly cash dividend of $0.34 per share, an approximately 6.3% year-on-yearincrease. The dividend is payable August 21, 2026, to shareholders of record on August 7, 2026. Balance Sheet and Cash Flow Highlights Net Debt: Standex had net (cash) debt of $339.2 million on June 30, 2026, compared to $448.0 million at the end of fiscal fourth quarter 2025.Net (cash) debt for the fourth quarter of 2026 consisted primarily of long-term debt of $518.0 million and cash and equivalents of $178.7million. Cash Flow: Net cash provided by continuing operating activities for the three months ended June 30, 2026, was $40.5 million compared to$33.4 million in the prior year's quarter. Free cash flow after capital expenditures was $35.0 million compared to free cash flow after capitalexpenditures of $24.9 million in the fiscal fourth quarter of 2025. Conference Call Details Standex will host a conference call for investors tomorrow, July 31, 2026, at 8:30 a.m. ET. On the call, David Dunbar, President and CEO, andAdemir Sarcevic, CFO, will review the Company's financial results and business and operating highlights. Investors interested in listening to thewebcast and viewing the slide presentation should log on to the "Investors" section of Standex's website under the subheading, "Events andPresentations," located at www.standex.com. A replay of the webcast will also be available on the Company's website shortly after the conclusion of the presentation online through July 31,2027. To listen to the teleconference playback, please dial in the U.S. (888) 660-6345 or (646) 517-4150 internationally; the passcode is 98594#.The audio playback via phone will be available through August 7, 2026. The webcast replay can be accessed in the "Investor Relations" section ofthe Company's website, located at www.standex.com. Use of Non-GAAP Financial Measures In addition to the financial measures prepared in accordance with generally accepted accounting principles ("GAAP"), the Company uses certainnon-GAAP financial measures, including non-GAAP adjusted income from operations, non-GAAP adjusted net income from continuing operations,free operating cash flow, EBITDA (earnings before interest, taxes, depreciation and amortization) adjusted EBITDA, adjusted EBITDA to net debt,and adjusted earnings per share. The attached financial tables reconcile non-GAAP measures used in this press release to the most directlycomparable GAAP measures. The Company believes that the use of non-GAAP measures which exclude the impact of restructuring charges,purchase accounting, amortization from acquired intangible assets, insurance recoveries, discrete tax events, gain or loss on sale of a businessunit, acquisition costs, and litigation costs help investors to obtain a better understanding of our operating results and prospects, consistent withhow management measures and forecasts the Company's performance, especially when comparing such results to previous periods. Anunderstanding of the impact in a particular quarter of specific restructuring costs, acquisition expenses, or other gains and losses, on net income(absolute as well as on a per-share basis), operating income or EBITDA can give management and investors additional insight into core financialperformance, especially when compared to quarters in which such items had a greater or lesser effect, or no effect. Non-GAAP measures shouldbe considered in addition to, and not as a replacement for, the corresponding GAAP measures, and may not be comparable to similarly titledmeasures reported by other companies. About Standex
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Standex International Corporation is a multi-industry manufacturer in four broad business segments: Electronics, Aerospace & Defense, Scientific,and Engraving & Hydraulics with operations in the United States, Europe, Canada, Japan, Singapore, Mexico, Turkey, India, and China. Foradditional information, visit the Company's website at https://standex.com/. Forward-Looking Statements Statements contained in this Press Release that are not based on historical facts are "forward-looking statements" within the meaning of thePrivate Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terminology such as"should," "could," "may," "will," "expect," "believe," "estimate," "anticipate," "intend," "continue," or similar terms or variations of those terms or thenegative of those terms. There are many factors that affect the Company's business and the results of its operations and that may cause theactual results of operations in future periods to differ materially from those currently expected or anticipated. These factors include, but are notlimited to: the impact of global crises or catastrophic events on employees, our supply chain, and the demand for our products and servicesaround the world; materially adverse or unanticipated legal judgments, fines, penalties or settlements; conditions in the financial and bankingmarkets, including fluctuations in exchange rates and the inability to repatriate foreign cash; domestic and international economic conditions,including the impact, length and degree of economic downturns on the customers and markets we serve and more specifically conditions in theelectrical grid, automotive, construction, aerospace, defense, transportation, food service equipment, consumer appliance, energy, oil and gas andgeneral industrial markets; lower-cost competition; the relative mix of products which impact margins and operating efficiencies in certain of ourbusinesses; the impact of higher raw material and component costs, particularly steel, certain materials used in electronics parts, petroleum basedproducts, and refrigeration components; the impact of higher transportation and logistics costs, especially with respect to transportation of goodsfrom Asia; the impact of inflation on the costs of providing our products and services; an inability to realize the expected cost savings fromrestructuring activities including effective completion of plant consolidations, cost reduction efforts including procurement savings and productivityenhancements, capital management improvements, strategic capital expenditures, and the implementation of lean enterprise manufacturingtechniques; the potential for losses associated with the exit from or divestiture of businesses that are no longer strategic or no longer meet ourgrowth and return expectations; the inability to achieve the savings expected from global sourcing of raw materials and diversification efforts inemerging markets; the impact on cost structure and on economic conditions as a result of actual and threatened increases in trade tariffs; theinability to attain expected benefits from acquisitions and the inability to effectively consummate and integrate such acquisitions and achievesynergies envisioned by the Company; increased costs from acquisitions to improve and coordinate managerial, operational, financial, andadministrative systems, including internal controls over financial reporting and compliance with the Sarbanes-Oxley Act of 2002, and other costsrelated to such systems in connection with acquired businesses; market acceptance of our products; our ability to design, introduce and sell newproducts and related product components; the ability to redesign certain of our products to continue meeting evolving regulatory requirements; theimpact of delays initiated by our customers; our ability to increase manufacturing production to meet demand including as a result of laborshortages; the impact on our operations of any successful cybersecurity attacks; and potential changes to future pension fundingrequirements. For a more comprehensive discussion of these and other factors, see the "Risk Factors" section of the Company's most recentannual report on Form 10-K filed with the SEC and available on the Company's website. In addition, any forward-looking statements representmanagement's estimates only as of the day made and should not be relied upon as representing management's estimates as of any subsequentdate. While the Company may elect to update forward-looking statements at some point in the future, the Company and management specificallydisclaim any obligation to do so, even if management's estimates change. Standex International Corporation Consolidated Statement of Operations (unaudited) Three Months EndedYear Ended June 30,June 30,June 30,June 30, (In thousands, except per share data) 2026 2025 2026 2025 Net sales $ 228,251222,049$ 891,597$ 790,107 Cost of sales 130,816130,751519,565474,859 Gross profit 97,43491,298372,032315,248 Selling, general and administrative expenses52,53347,954201,597178,750 (Gain) loss on sale of business (249) - (57,085) - Restructuring costs 2,762 2,920 12,186 6,903 Amortization of acquired intangible assets4,341 4,647 17,69114,612 Acquisition related costs 496 1,042 4,059 21,434 Income from operations 37,55234,734193,58493,549 Interest expense 6,558 9,016 30,71223,931 Other non-operating (income) expense, net(1,122) (364) (68) 808 Total 5,436 8,652 30,64424,739 Income from continuing operations before income taxes32,116 26,082162,94068,810
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Provision for income taxes 8,515 10,60934,25311,084 Net income from continuing operations 23,60115,473128,68757,726 Income (loss) from discontinued operations, net of tax(50) 13 (144) (42) Net income 23,55115,486128,54357,684 Less: net income attributable to redeemable noncontrolling interest824 660 2,900 1,924 Less: change of redeemable noncontrolling interest to redemption value2,248 - 21,011 - Net income attributable to Standex International$ 20,479$ 14,826$ 104,633$ 55,760 Basic earnings per share: Income (loss) from discontinued operations(0.00) - (0.01) - Total income (loss) attributable to Standex International$ 1.70$ 1.23$ 8.70$ 4.68 Diluted earnings per share: Income (loss) from discontinued operations(0.00) - (0.01) - Total income (loss) attributable to Standex International$ 1.69$ 1.23$ 8.68$ 4.64 Average Shares Outstanding Basic 12,05311,990 12,03811,926 Diluted 12,12112,07612,07012,016 Standex International Corporation Condensed Consolidated Balance Sheets (unaudited) June 30,June 30, (In thousands) 2026 2025 ASSETS Current assets: Cash and cash equivalents $ 178,734104,542 Accounts receivable, net 172,896172,702 Inventories 128,960129,994 Prepaid expenses and other current assets71,165 73,641 Total current assets 551,755480,879 Property, plant, equipment, net 153,024160,364 Intangible assets, net 199,479225,757 Goodwill 581,553610,338 Deferred tax asset 4,409 11,971 Operating lease right-of-use asset 45,400 47,998 Other non-current assets 50,088 29,573 Total non-current assets 1,033,9531,086,001 Total assets $ 1,585,708$1,566,880 LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 80,098 88,001
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Accrued liabilities 131,99963,204 Income taxes payable 17,419 15,770 Total current liabilities 229,516166,975 Long-term debt 517,950552,515 Operating lease long-term liabilities 35,814 40,057 Accrued pension and other non-current liabilities47,214 67,743 Total non-current liabilities 600,978660,315 Redeemable non-controlling interest - 27,913 Stockholders' equity: Common stock 41,976 41,976 Additional paid-in capital 127,621136,082 Retained earnings 1,215,3291,126,851 Accumulated other comprehensive loss (199,061)(164,765) Treasury shares (430,651)(428,467) Total stockholders' equity 755,214711,677 Total liabilities, redeemable noncontrolling interest and stockholders' equity$ 1,585,708$1,566,880 Standex International Corporation and Subsidiaries Statements of Consolidated Cash Flows (unaudited) Year Ended June 30, (In thousands) 2026 2025 Cash Flows from Operating Activities Net income $ 128,54357,684 Income (loss) from discontinued operations(144) (42) Income from continuing operations 128,68757,726 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 38,65335,438 Stock-based compensation 8,821 8,691 Non-cash portion of restructuring charge 1,480 10 (Gain) loss on sale of business (57,085) - Contributions to defined benefit plans (6,846)(7,796) Net changes in operating assets and liabilities(23,797)(24,421) Net cash provided by operating activities - continuing operations89,91369,648 Net cash provided by (used in) operating activities - discontinued operations(350) (52) Net cash provided by (used in) operating activities89,56369,596 Cash Flows from Investing Activities Capital Expenditures (25,199)(28,343) Expenditures for acquisitions, net of cash acquired- (478,890) Proceeds from the sale of business 68,280 - Other investing activities 14 3,800 Net cash provided by (used in) investing activities43,095(503,433)
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Cash Flows from Financing Activities Proceeds from borrowings 75,000792,313 Payments of debt (110,000)(389,109) Contingent consideration payment (660) - Activity under share-based payment plans2,347 2,226 Purchase of treasury stock and other (4,402)(9,906) Distributions to non-controlling interests(2,726) - Cash dividends paid (16,185)(15,033) Net cash provided by (used in) financing activities(56,627)380,490 Effect of exchange rate changes on cash (1,839) 3,686 Net changes in cash and cash equivalents74,192(49,661) Cash and cash equivalents at beginning of year104,542154,203 Cash and cash equivalents at end of period$ 178,734$ 104,542 Standex International Corporation Selected Segment Data (unaudited) Three Months EndedYear Ended June 30, June 30, (In thousands) 2026 2025 2026 2025 Net Sales Electronics $129,109$ 115,192$475,036$400,130 Aerospace & Defense37,90932,040135,031102,595 Scientific 18,81717,91875,74872,380 Engraving & Hydraulics42,41646,982182,329179,303 Other - 9,91723,45335,699 Total $228,251$222,049$891,597$790,107 Income from operations Electronics $ 31,635$ 28,009$121,340$ 87,927 Aerospace & Defense8,117 4,30821,95215,428 Scientific 5,160 4,10818,03517,470 Engraving & Hydraylics6,445 6,99527,40425,173 Other - 2,101 4,046 7,315 Restructuring (2,762)(2,920)(12,186)(6,903) Gain (loss) on sale of business249 - 57,085 - Acquisition related costs(496) (1,042)(4,059)(21,434) Corporate (10,796)(6,825)(40,033)(31,427) Total $ 37,552$ 34,734$193,584$ 93,549 Standex International Corporation Reconciliation of GAAP to Non-GAAP Financial Measures (unaudited) Three Months Ended Year Ended
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June 30, June 30, (In thousands, except percentages) 2026 2025 %Change2026 2025 Adjusted income from operations and adjusted net income fromcontinuing operations: Net Sales $ 228,251$ 222,0492.8 %$ 891,597$ 790,107 Income from operations, as reported$ 37,552$ 34,7348.1 %$ 193,584$ 93,549 Income from operations margin 16.5 % 15.6 % 21.7 % 11.8 % Adjustments: Restructuring charges 2,762 2,920 12,186 6,903 Acquisition-related costs 496 1,042 4,059 21,434 Amortization of acquired intangible assets4,341 4,647 17,691 14,612 Litigation (settlement refund) charge 450 - 550 - (Gain) loss on sale of business (249) - (57,085) - Purchase accounting expenses - 2,407 2,316 14,083 Adjusted income from operations $ 45,351$ 45,751-0.9 %$ 173,301$ 150,581 Adjusted income from operations margin19.9 % 20.6 % 19.4 % 19.1 % Interest and other income (expense), net(5,436) (8,652) (30,644)(24,739) Foreign currency related (gain) loss on acquisition and divestitureactivities - - - 554 Provision for income taxes (8,515)(10,609) (34,253)(11,084) Discrete and other tax items 1,075 3,502 1,075 (5,444) Tax impact of above adjustments (1,946) (1,808) (1,049)(12,113) Net income from continuing operations, as adjusted30,530 28,183 108,43197,755 Less: net income attributable to redeemable noncontrolling interest3,072 660 23,911 1,924 Add back: change of redeemable noncontrolling interest to redemptionvalue per the acquisition agreement (2,248) - (21,011) - Net income from continuing operations attributable to Standex, asadjusted $ 29,706$ 27,5237.9 %$ 105,531$ 95,831 EBITDA and Adjusted EBITDA: Net income (loss) from continuing operations, as reported$ 23,601$ 15,47352.5 %$ 128,687$ 57,726 Net income from continuing operations margin10.3 % 7.0 % 14.4 % 7.3 % Add back: Provision for income taxes 8,515 10,609 34,253 11,084 Interest expense 6,558 9,016 30,712 23,931 Depreciation and amortization 9,404 10,128 38,653 35,438 EBITDA $ 48,078$ 45,2266.3 %$ 232,305$ 128,179 EBITDA Margin 21.1 % 20.4 % 26.1 % 16.2 % Adjustments: Restructuring charges 2,762 2,920 12,186 6,903 Acquisition-related costs 496 1,042 4,059 21,434 Litigation (settlement refund) charge 450 - 550 - (Gain) loss on sale of business (249) - (57,085) - Purchase accounting expenses - 2,407 2,316 14,083 Adjusted EBITDA $ 51,537$ 51,596-0.1 %$ 194,330$ 170,599 Adjusted EBITDA Margin 22.6 % 23.2 % 21.8 % 21.6 % Free operating cash flow: Net cash provided by operating activities - continuing operations, asreported $ 40,506$ 33,435 $ 89,913$ 69,648
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Less: Capital expenditures (5,525) (8,581) (25,199)(28,343) Free cash flow from continuing operations$ 34,980$ 24,855 $ 64,714$ 41,306 Standex International Corporation Reconciliation of GAAP to Non-GAAP Financial Measures (unaudited) Three Months EndedYear Ended Adjusted earnings per share from continuing operations June 30, June 30, 2026 2025 %Change2026 2025% Change Diluted earnings per share from continuing operationsattributable to Standex, as reported$ 1.69$ 1.2337.7 %$ 8.68$ 4.64 87.1 % Adjustments: Restructuring charges 0.18 0.20 0.76 0.45 Acquisition-related costs 0.03 0.07 0.26 1.43 Amortization of acquired intangible assets0.27 0.32 1.12 0.94 Litigation (settlement refund) charge0.03 - 0.03 - (Gain) loss on sale of business (0.03) - (4.09) - Foreign currency related (gain) loss on acquisition anddivestiture activities - - - 0.04 Discrete tax items 0.09 0.29 0.09 (0.45) Purchase accounting expenses - 0.17 0.15 0.93 Change of redeemable noncontrolling interest toredemption value per the acquisition agreement0.19 - 1.74 - Diluted earnings per share from continuing operationsattributable to Standex, as adjusted$ 2.45$ 2.28 7.5 %$ 8.74$ 7.98 9.6 % SOURCE Standex International Corporation