Earnings Call Summary | Twin Vee PowerCats(VEEE.US) Q1 2024 Earnings Conference
Earnings Call Summary | Twin Vee PowerCats(VEEE.US) Q1 2024 Earnings Conference
More details: The following is a summary of the Twin Vee Powercats Co. (VEEE) Q1 2024 Earnings Call Transcript:
以下是 Twin Vee Powercats Co. 的摘要。(VEEE) 2024 年第一季度财报电话会议记录：
Financial Performance:
财务业绩：
Twin Vee Powercats reported a decline in Q1 revenue from $8.8 million to $5.2 million due to decreased product demand. Despite this, they grew their revenue per direct labor by 40%. The net loss for the quarter was $2.335 million, attributed to the Forza segment and to Twin Vee. As of Q1 end, cash holdings were $17,381,000, a decrease from the $21,218,000 in Q4 2023.
Twin Vee Powercats报告称，由于产品需求下降，第一季度收入从880万美元下降至520万美元。尽管如此，他们将每名直接劳动力的收入增长了40％。该季度的净亏损为233.5万美元，这归因于极限竞速板块和Twin Vee。截至第一季度末，现金持有量为17,381,000美元，低于2023年第四季度的21,218,000美元。
Business Progress:
业务进展：
The company continued to invest in new models, such as the Gen 2 GFX boats and the AquaSport 280 Superboat despite challenging economic conditions. They also started constructing an additional 30,000 sq. ft. area in Fort Pierce, which, once completed, could increase the production capacity to 700 units annually. The company also implemented a new ERP system to improve operational efficiency. Twin Vee's inventory saw a reduction of over 20% for the quarter.
尽管经济条件艰难，但该公司仍继续投资新车型，例如第二代GFX船和AquaSport 280超级快艇。他们还开始在皮尔斯堡再建造30,000平方英尺的区域，一旦完工，可以将年产能提高到700套。该公司还实施了新的ERP系统，以提高运营效率。Twin Vee的库存在本季度减少了20％以上。
More details: Twin Vee PowerCats IR
更多详情： 双色 Vee PowerCats
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