PCTI the quarter was strong as expected, and guidance was better than at least I thought it would be...we knew from what they said last qtr that March would be weak, which it is, but the guidance they gave is stronger then analyst expectations. I was concerned that '23 would show flat to negative growth since the last few qtrs were extra strong b/c of built up demand due to earlier supply chain problems.. Not that growth will be huge, but they do expect organic growth in '23. I mean, perhaps PCTI will be a kind of value trap, I dunno, doesnt seem to wanna move much ever.. but at least you get three things with that, 1. The chance that a larger player will want to buy them as a bolt on at a nice premium imho, 2. A strong divvy, competitive with current treasuries, 3. A strong balance sheet with lots of tang assets and cash which does limit any downside (and makes them a more attractive buyout candidate).
In the CC they did say they both expect organic growth this year, and may use their balance sheet to support inorganic growth through a purchase.
They said they expect organic growth in their Antenna Segment, and while I don't think they said those exact words for their Test and Measurement Segment, they did say that Test and Measurement had its strongest qtr ever in q4, and exited that quarter with its strongest backlog ever.
They said they are gaining traction in antennas for EV's and Charging Stations, although not a huge segment currently.
As usual, and like '22, revenue will be weighted toward the second half of the fiscal year. Overall, expect year over year growth.
On the negative side, they said that some of the 2nd half weighted comments are due to higher customer inventory to work through in some of their offerings (not all) since some customers over ordered could b/c they were concerned they would not be able to procure them later due to the supply chain issues. But right now, supply chain problems seem to be abated.
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