Climate Change Data

Environmental Metrics

Social Achievements

• Improved training programs and quality management team and processes
• Training programs through local schools to attract and train new people

Governance Achievements

• Regained listing compliance with the NYSE American Continued Listing Standards in May 2022
• Successfully obtained ISO 9000 certification

Climate Goals & Targets

Environmental Challenges

• Raw material delays and difficulties in hiring and retaining direct laborers due to the COVID-19 pandemic
• International market challenges due to the global pandemic with containment restrictions
• The COVID-19 pandemic had a significant impact on 2020 operations

Mitigation Strategies

• Took actions to cut costs and lower our breakeven point
• Strengthened foundation with key personnel hires and strategic growth investments
• Refined processes and condensed some operations into one facility, making us more efficient

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Social Achievements

• Added 28 full-time employees (from 58 to 86) between 2021 and 2022.
• Maintained AS9100D with ISO 9001:2015 certification for quality management systems.

Climate Goals & Targets

Environmental Challenges

• Inflationary headwinds for payroll, raw materials, and other costs.
• Supply chain restraints impacting costs.
• Concentration of revenue from a limited number of customers (two customers represented 88% of total revenue in 2022).

Mitigation Strategies

• Effectively leveraged higher sales volume to offset increased expenses.
• Developed both domestic and international sourcing connections and arrangements for raw materials and components.
• Developing new products and tools and selling more existing products to additional customers to broaden customer base.

Supply Chain Management

Responsible Procurement

• Maintain quality assurance and testing programs to analyze and test raw materials and components.

Climate-Related Risks & Opportunities