Net sales increased by $33.1 million (4.1%) to $839.0 million in 2025, driven by stronger demand in mobile and recreational marine markets. Gross profit rose by $18.9 million (7.5%) to $271.2 million, with gross margin improving by 100 basis points to 32.3%. Net income increased by $9.4 million (24.1%) to $48.4 million, with diluted EPS up 23.9% to $1.45. Operating income decreased by $15.8 million (19.3%) to $66.0 million, primarily due to a $25.9 million goodwill impairment related to the i3PD business. The company completed the divestiture of Custom Fluidpower (CFP) on September 27, 2025, for approximately $76.7 AUD, resulting in a $15.2 million net gain after tax. Hydraulics segment sales increased by 0.7% to $540.8 million, driven by mobile end market demand, with EMEA sales outpacing Americas and APAC. Electronics segment sales increased by 11.0% to $298.2 million, with strong growth in the Americas (recreational, industrial, mobile) and APAC (health and wellness). Restructuring costs decreased to $1.6 million in 2025 from $5.3 million in 2024, with some European optimization activities paused due to tariff uncertainty. Total indebtedness as of January 3, 2026, was approximately $368 million, with average net debt decreasing by $99.1 million to $349.8 million during 2025. Cash provided by operating activities increased by $5.2 million to $127.3 million in 2025. The company repurchased 330,000 shares in FY 2025 under a $100.0 million multi-year share repurchase program, with $86.5 million remaining.