Orders for the first quarter of 2025 were $1,797.8 million, an increase of $135.1 million or 8.1%, compared with $1,662.7 million for the first quarter of 2024. The increase was due to a 3% organic order increase, a 3% increase from acquisitions, as well as a 2% favorable effect of foreign currency translation.

The Company spent $103.2 million in cash, net of cash acquired, to acquire Kern Microtechnik, a leading manufacturer of high-precision machining and optical inspection solutions. Kern has annual sales of approximately 50 million Euros.

The Company's backlog of unfilled orders at March 31, 2025 was $3,469.1 million, an increase of $65.9 million or 1.9% compared with $3,403.2 million at December 31, 2024.

Excluding the dilutive impact of recent acquisitions and the Paragon integration costs, segment operating margins increased 90 basis points compared to the first quarter of 2024 due to the continued benefits from the Company's Operational Excellence initiatives.

Selling, general and administrative expenses for the first quarter of 2025 were $170.2 million or 9.8% of net sales, a decrease of $4.1 million or 2.4%, compared with $174.3 million or 10.0% of net sales for the first quarter of 2024.

The Company's principal executive officer and principal financial officer concluded that the Company's disclosure controls and procedures are effective at the reasonable assurance level.

The U.S. government has announced additional tariffs and trade restrictions on goods imported into the U.S. from various nations. With this uncertainty, the likelihood of project delays and slowing demand has also increased, particularly within China.

The Company (including its subsidiaries) has been named as a defendant in a number of asbestos-related lawsuits. The Company believes that it has good and valid defenses to each of these claims and intends to defend them vigorously.

Certain historic processes in the manufacture of products have resulted in environmentally hazardous waste by-products. The Company has established reserves to satisfy the Company's expected obligations.

EMG's net sales totaled a record $588.3 million for the first quarter of 2025, an increase of $8.9 million or 1.5%, compared with $579.4 million for the first quarter of 2024. The net sales increase was due to a 2% organic sales increase, partially offset by an unfavorable effect of foreign currency translation.

Excluding the dilutive impact of recent acquisitions, EIG's operating margins increased 110 basis points in the first quarter of 2025 compared to the first quarter of 2024 due to the continued benefits from the Company's Operational Excellence initiatives.

Excluding the Paragon integration costs, EMG's operating margins increased 120 basis points compared to the first quarter of 2024 due to the continued benefits from the Company's Operational Excellence initiatives.

Cost of sales for the first quarter of 2025 was $1,107.0 million or 63.9% of net sales, a decrease of $37.7 million or 3.3%, compared with $1,144.7 million or 65.9% of net sales for the first quarter of 2024.

Excluding the dilutive impact of recent acquisitions and the Paragon integration costs, segment operating margins increased 90 basis points compared to the first quarter of 2024 due to the continued benefits from the Company's Operational Excellence initiatives.

Selling, general and administrative expenses for the first quarter of 2025 were $170.2 million or 9.8% of net sales, a decrease of $4.1 million or 2.4%, compared with $174.3 million or 10.0% of net sales for the first quarter of 2024.

Research, Development & Engineering costs totaled $94.9 million.

The amount allocated to goodwill is reflective of the benefits the Company expects to realize from the acquisition. Kern's design and engineering capabilities complement the Company's existing ultra precision technologies business.

The Company spent $103.2 million in cash, net of cash acquired, to acquire Kern Microtechnik, a leading manufacturer of high-precision machining and optical inspection solutions supporting a wide range of applications within the medical, semiconductor, research, and space markets.

Effective February 7, 2025, the Company's Board of Directors approved a $1.25 billion share repurchase authorization. This new authorization replaces the previous $1 billion share repurchase authorization approved in May 2022.

The Company repurchased $18.0 million of its common stock for the first three months of 2025, compared with $6.9 million for the first three months of 2024.

Effective February 7, 2025, the Company's Board of Directors approved an 11% increase in the quarterly cash dividend on the Company's common stock to $0.31 per common share from $0.28 per common share.

The provided document does not contain any specific information on ESG initiatives. Therefore, no headlines can be generated.

In recent months, the United States government announced additional tariffs and trade restrictions on goods imported into the U.S. from various nations. In response, some nations countered with or are considering reciprocal tariffs and other actions.

The decrease in international sales was primarily driven by lower demand in Europe and Asia.

On January 6, 2025, the Company established a commercial paper program under which it may issue short-term, unsecured commercial paper notes. The Company intends the commercial paper program to provide additional financing flexibility for various purposes including acquisitions.