Koss Company KOSS incurred a fourth-quarter fiscal 2024 loss per share of 1 cent, narrower than 3 cents within the fourth quarter of fiscal 2023. The corporate incurred a web lack of $0.1 million for the quarter, narrower than the $0.3 million reported within the prior-year quarter.
Revenues for the quarter decreased 5.9% to $2.9 million from $3.1 million in the identical quarter of the earlier yr.
The quarterly monetary efficiency displays a difficult interval for Koss, with gross sales impacted primarily by a lower in orders from its largest European distributor, attributed to delayed stock replenishments. This was considerably offset by a 60% improve in gross sales within the Schooling sector and a 16% rise in Direct-to-Shopper (DTC) gross sales, fueled by new product additions and a slight resurgence in fashionable headphone fashions.
Koss Company Worth, Consensus and EPS Shock
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Monetary Efficiency
Koss’ monetary struggles for this quarter might be largely attributed to diminished gross sales in key export markets, notably in Europe and Asia. European gross sales had been affected by greater prices of residing and rates of interest, resulting in money conservation efforts by distributors.
In Asia, decreased gross sales of an unique gear producer of steel detectors additional dampened the figures. Nonetheless, the corporate noticed an almost 50% improve in e-tailer gross sales and obtained important orders for customized headphones from a brand new shopper, which helped mitigate total gross sales declines.
The corporate’s gross revenue for the quarter stood at $1.2 million, up from $0.8 million within the earlier yr, reflecting improved value administration regardless of diminished gross sales quantity. Promoting, common, and administrative bills barely elevated to $1.5 million from $1.4 million, highlighting ongoing operational challenges.
Full-12 months Replace
For fiscal 2024, Koss recorded revenues of $12.3 million, a 6.4% lower from the earlier yr’s $13.1 million. The fiscal yr ended with a major web lack of $1 million towards the online earnings of $8.3 million reported within the prior yr. The corporate incurred a lack of 10 cents per share towards earnings of 85 cents per share in fiscal 2023.
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