Discontinued Operations

6 Months Ended

Jul. 04, 2026

Discontinued Operations

Discontinued Operations

Note C – Discontinued Operations

In the third quarter of 2024, we determined that the business of Big 3 Precision Mold Services, Inc. (“Big 3 Mold”) met the criteria to be held for sale and that the assets held for sale qualified for discontinued operations. As such, the financial results of the Big 3 Mold business are reflected in our unaudited condensed consolidated statements of operations as discontinued operations for all periods presented. Additionally, current and non-current assets and liabilities of discontinued operations are reflected in the unaudited condensed consolidated balance sheets for both periods presented.

On April 30, 2025, the Company sold the equipment, workforce and customer list of the ISBM division of Big 3 Mold. ISBM, which is located in Centralia, Illinois, is an injection stretch blow mold toolmaker. From April 30, 2025, the assets and liabilities and results of operations have been included in continuing operations.

Summarized Financial Information of Discontinued Operations

The following table represents income from discontinued operations, net of tax, for the periods presented:

		Three Months Ended				Six Months Ended
		June 28, 2025				June 28, 2025
		(unaudited)				(unaudited)
Net sales		$	359,046			$	1,670,208
Cost of products sold			(421,730	)			(1,653,484	)
Gross margin			(62,684	)			16,724

Selling and administrative expenses			(100,854	)			(388,847	)
Income from disposal of discontinued Unit			2,016,696				2,016,696
Operating Income			1,853,158				1,644,573

Interest expense			(70,699	)			(147,882	)
Income from discontinued operations before income taxes			1,782,459				1,496,691

Income tax expense			(377,282	)			(315,951	)
Income from discontinued operations, net of tax		$	1,405,177			$	1,180,739