earnings thoughtsI feel good about these especially if you add in the foriegn exchange headwinds (4-5%). In addition ,when the company says
"Commenting on the Company’s M&A activities, Mr. Wolf stated, “We have an extensive pipeline and are actively working on multiple acquisition opportunities. With significant cash on hand, our unused line of credit, and further debt capacity, we are well positioned to continue to execute on our acquisition program.”
I think we can believe them because they mention expenses on M and A ( last finished acquisition was Microptic - November,2022) - "Net income was down, largely due to significant M&A related expenses that we incurred in the quarter.”
A consolidator with good organic growth - "Our organic growth, which eliminates the effects of both acquisitions and exchange rates, was up 15% for the quarter, reflecting continued market share gains.