For 3Q:25, the company reported EPS of $0.18 compared to our estimate of $0.16 and $0.33 in 3Q:24. As expected, revenue declined from an unusually strong 3Q:24 by 7.5% to $138.5 million. Management noted that customers continue to order despite economic uncertainty and the changing tariff situation and tightened 2025 revenue guidance to $560-$570 million (from $550-$575 million). Based on 3Q:25 results and updated guidance, we lower our 2025 revenue estimate to $565 million (from $569 million) but raise our EPS estimate to $0.44 (from $0.43) as a result of management's tight cost controls. For 2026 and 2027, we expect revenue growth to outpace increases in operating expenses, supporting our estimates for EPS of $0.74 and $1.12, respectively. At the end of 3Q:25, SGC had $17 million in cash and $100 million in total debt. The company has bought back $8 million in common stock in 2025 and is authorized to buy back an additional $12 million in shares. We maintain our moderate risk rating and $20 price target, which is based on 18x our 2027 EPS estimate of $1.12.