Koss Q1 revenue $3.37M (flat YoY); net loss of $258K vs $9.94M income prior year

KOSS CORP

2024-Q1 EPS reported -$0.03 revenue$3,373,938

Revenue $3,373,938, up 0.3% from $3,364,129 in prior-year Q1.
Net loss of $257,609 ($0.03 loss per share) vs net income of $9,944,743 ($1.09 basic EPS) a year ago.
CEO cites drop in DTC sales and overstocked domestic distributors offsetting gains from European distributor orders.
Gross margins fell due to unfavorable customer mix and higher freight rates; fixed manufacturing cost savings partially offset.
Freight rates expected to rise next quarter; company monitors supply chain environment.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KOSS CORP reported first quarter ended September 30, 2023 results: revenue $3,373,938.

Period: first quarter ended September 30, 2023
Revenue: $3,373,938
Result: reported results

Exact text from the filing

based high-fidelity head phone company, has reported its results for the first quarter ended September 30 , 20 2 3 . Sales for the first quarter ended September 30, 2023 were $3,373,938 compared to $3,364,129 for the same period in the prior year , an increase of $9,809, or 0.3%. The net loss for the three months ended September 30, 2023 was $ 257 , 609 compared

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Source: SEC EDGAR

accession 0000056701-23-000042

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