Solitron Devices Inc (SODI)

Description:

Solitron Devices Inc. was incorporated under the laws of the State of New York in 1959 and reincorporated under the laws of the State of Delaware in August 1987. The Company designs, develops, manufactures and markets solid-state semiconductor components and related devices for the military and aerospace markets. It manufactures a large variety of bipolar and metal oxide semiconductor power transistors, power and control hybrids, junction and power MOS field effect transistors, field effect transistors and other related products. The Company's products are custom made pursuant to contracts with customers whose end products are sold to the United States government. Other products, such as Joint Army/Navy transistors, diodes and Standard Military Drawings voltage regulators, are sold as standard or catalog items. The Company's semiconductor products are classified as active electronic components. Active electronic components are those that control and direct the flow of electrical current by means of a control signal such as a voltage or current. Its active electronic components include bipolar transistors and MOS transistors. The active electronic components are subdivided into those of a discrete nature and those which are non-discrete. Its custom products are typically sold to the United States Government and defense or aerospace companies such as Raytheon Company, Lockheed Martin, Smith Industries, Harris Corporation, General Electric Aviation, and Northrop Grumman Systems Corporation, while standard products are sold to the same customer base and to the general electronic industry and incorporate such items as power supplies and other electronic control products. The Company also plans to continue its efforts in selling commercial semiconductors and power modules and to develop appropriate strategic alliance arrangements. The electronic component industry, in general, is highly competitive and has been characterized by price erosion, rapid technological changes and foreign competition. The Company has numerous competitors across all of its product lines. Its competitors in the military market include International Rectifier, Microsemi Corporation, M.S. Kennedy Corporation, Natel Engineering Company and Sensitron Semiconductor.