It was a rough year for Saturn. In addition to overall industry sales being soft, we lost two large customers in the LED market. On top of all of this, our Founder, CEO, and Dad passed away on July 25th-making this officially our worst year ever. However, true-to-Saturn-form, we've picked ourselves up and rejoined the battle that is our industry. We have stabilized sales, reorganized our management team, and streamlined production to adjust to the current situation.
Continuous Improvement
While the norm is to cut capital expenditures during a sales downturn, we have taken a contrarian approach and actually increased our investments (one of the perks of being a debt-free company). Below are some of the highlight purchases from the past year:
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