Koss posts Q3 sales drop of 27.3% and net loss of $232,853; EPS -$0.03

KOSS CORP

2023-Q3 EPS reported $0.87 revenue$9,995,620

Q3 sales $3.37M, down 27.3% YoY; net loss $232,853 vs net income $403,204.
Basic and diluted loss per share $0.03 vs net income per share $0.04 in prior year.
Nine-month sales $9.996M, down 25.5%; net income $8.565M vs $0.883M.
CEO cites consumer spending slowdown, Russia-Ukraine impact on European sales, 35% decline in Asia.
Gross margins pressured by higher freight rates and lower volumes; monitoring UPS contract talks.

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