Updated Aug 14 at 11:14pm ET.
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National Presto reported a 27 percent jump in sales for its defense business, which makes 40mm ammunition for the military. The growth came from shipping more products out of its existing backlog, which is the list of orders the company has signed but not yet delivered. This segment now powers the vast majority of the company's revenue.
In contrast, the housewares and small appliances arm saw sales fall about 6 percent. Management noted that new tariffs, which are taxes on imported goods, have forced retail prices higher and hurt consumer demand. While the appliance business is struggling with these higher costs, the defense side is currently strong enough to carry the company's overall performance.
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Source: 8-K filing
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