secwatch.observer — SEC 8-K summary
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Issuer:     FGI Industries Ltd. (FGI)
CIK:        0001864943
Form:       8-K
Filed at:   2022-03-28T23:59:59+00:00
Accession:  0001104659-22-038748
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FGI Industries Q4 revenue up 47% to $52.2M; operating income down 39.7% to $0.7M
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- Q4 revenue $52.2M (+47% YoY) driven by Sanitaryware (+56.8%) and Bath Furniture (+20.3%); Other revenue up 71.7%.
- Q4 GAAP net income $1.0M ($0.15 diluted EPS) vs $0.7M in prior year; adjusted net income $0.7M ($0.10 diluted).
- FY2021 revenue $181.9M (+34.9%), operating income $7.7M (+23%), net income $7.9M (+67.1%).
- FY2022 guidance: revenue $182-189M, operating income $6.5-7.5M, net income $5-6M; expects margin expansion in H2 2022.
- Gross margin compressed to 14.5% (down from 20%) due to supply chain disruptions and inflation; pricing actions expected to offset.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1864943/000110465922038748/0001104659-22-038748-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1864943/000110465922038748/tm2210606d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-038748

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