Koss Q1 net sales down 16.2% YoY to $4.37M; posts net loss of $99K

KOSS CORP

2022-Q1 EPS reported -$0.01 revenue$4,365,067

Net sales of $4.37M, down 16.2% from $5.21M in Q1 last year.
Net loss of $99,359 vs net income of $126,928; basic loss $0.01 per share.
CEO cites loss of placement at US mass retail; shift to distribution/online sales.
Online business growing; European distribution improvements offset some US softness.
Freight cost increases and shipping delays caused backorders expected to clear next quarter.

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