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Koss Corp | 10-K: FY2024 Annual Report

Koss Corp | 10-K: FY2024 Annual Report

高斯电子 | 10-K:2024财年年报
美股SEC公告 ·  2024/08/30 13:32

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Koss Corporation reported fiscal year 2024 net sales of $12.3 million, down 6.4% from $13.1 million in FY2023, primarily due to a 24% decline in export sales and lower direct-to-consumer sales. Gross profit margin remained stable at 34.1%, while selling, general and administrative expenses decreased significantly to $6.1 million from $29.3 million in the prior year, mainly due to reduced legal fees.The company's domestic sales decreased marginally by less than 1% to $9.8 million, while direct-to-consumer sales through Amazon, representing 17% of total revenue, declined by 19.7%. The decrease was partially offset by a 50% increase in sales to E-tailers and improved U.S. distributor sales. Operating performance was impacted by continued sell-through of inventory received at higher freight costs.As of June 30, 2024, Koss maintained a strong financial position with $2.8 million in cash and cash equivalents, $12.1 million in short-term investments, and an available credit facility of $5.0 million. The company reported a net loss of $951,000 for FY2024, compared to net income of $8.3 million in the previous year which included $33 million in licensing proceeds.
Koss Corporation reported fiscal year 2024 net sales of $12.3 million, down 6.4% from $13.1 million in FY2023, primarily due to a 24% decline in export sales and lower direct-to-consumer sales. Gross profit margin remained stable at 34.1%, while selling, general and administrative expenses decreased significantly to $6.1 million from $29.3 million in the prior year, mainly due to reduced legal fees.The company's domestic sales decreased marginally by less than 1% to $9.8 million, while direct-to-consumer sales through Amazon, representing 17% of total revenue, declined by 19.7%. The decrease was partially offset by a 50% increase in sales to E-tailers and improved U.S. distributor sales. Operating performance was impacted by continued sell-through of inventory received at higher freight costs.As of June 30, 2024, Koss maintained a strong financial position with $2.8 million in cash and cash equivalents, $12.1 million in short-term investments, and an available credit facility of $5.0 million. The company reported a net loss of $951,000 for FY2024, compared to net income of $8.3 million in the previous year which included $33 million in licensing proceeds.
Koss公司报告2024财年的净销售额为1230万美元,同比下降6.4%,主要是由于出口销售减少24%及直接面向消费者的销售下降。毛利润率保持稳定在34.1%,而销售、一般和行政费用显著减少至610万美元,较前年的2930万美元大幅下降,主要是由于法律费用减少。该公司的国内销售轻微下降不足1%,为980万美元,而通过亚马逊实现的直接面向消费者销售,占总营业收入的17%,下降了19.7%。该下降部分被对电子零售商销售增长50%以及美国分销商销售改善所部分抵消。运营表现受到继续销售高运费成本的库存的影响。截至2024年6月30日,Koss保持良好的财务状况,拥有280万美元的现金及现金等价物,1210万美元的短期投资,以及500万美元的可用信用额度。该公司报告2024财年净亏损为951,000美元,而上年则报告净利润为830万美元,其中包括3300万美元的许可收益。
Koss公司报告2024财年的净销售额为1230万美元,同比下降6.4%,主要是由于出口销售减少24%及直接面向消费者的销售下降。毛利润率保持稳定在34.1%,而销售、一般和行政费用显著减少至610万美元,较前年的2930万美元大幅下降,主要是由于法律费用减少。该公司的国内销售轻微下降不足1%,为980万美元,而通过亚马逊实现的直接面向消费者销售,占总营业收入的17%,下降了19.7%。该下降部分被对电子零售商销售增长50%以及美国分销商销售改善所部分抵消。运营表现受到继续销售高运费成本的库存的影响。截至2024年6月30日,Koss保持良好的财务状况,拥有280万美元的现金及现金等价物,1210万美元的短期投资,以及500万美元的可用信用额度。该公司报告2024财年净亏损为951,000美元,而上年则报告净利润为830万美元,其中包括3300万美元的许可收益。
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