[NEW] Cliff Note #135: Margin Inflection, Backlog Expansion, and Operating Leverage at P/E under 10.0x

Multibagger Themes: Breakout EPS - Significant Backlog (only mentioned in filing) - Gross Margin Expansion - Operating Leverage - Defense Theme - Turnaround

Please note that this Cliff Note and the next stock being added to the MSMqi were first profiled as a research journal note, where we highlighted a potential margin recovery, management’s consistently positive commentary since late 2024, all pointing to potential operating leverage as demand strengthens.

Due to the strength in its Q1 earnings report, we are now moving the stock into the MSMqi as the 135th addition.

Cliff Note #135 is a manufacturer of components for the defense and commercial markets. Backlog continues to grow, and gross margins expanded substantially. The company just had a breakout quarter, even coming ahead of our already rosy expectations, and is trading at less than 10.0x run-rate earnings.