Forward Industries Q1 revenue falls 6.9% to $10.8M; swings to net loss $0.4M

Forward Industries, Inc.

2023-Q1 EPS reported -$0.04 revenue$10,809,679

Revenue $10.8M, down 6.9% YoY from $11.6M.
Gross margin 17.7% vs 22.5% a year ago.
Operating loss $0.5M vs income $0.2M; net loss $0.4M vs income $0.2M.
Diluted EPS $(0.04) vs $0.02 in prior year.
Cash $2.3M at Dec 31, 2022, down from $2.6M at Sep 30, 2022.

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 1.0

Forward Industries, Inc. reported first quarter ended December 31, 2022 results: revenue $10.8 million, net income net loss of $0.4 million, EPS $(0.04).

Period: first quarter ended December 31, 2022
Revenue: $10.8 million
Net income: net loss of $0.4 million
EPS: $(0.04)
Result: reported results

Exact text from the filing

and distribution group, today announced financial results for its first quarter ended December 31, 2022. First Quarter Fiscal Year 2023 Financial Highlights · Revenues were $10.8 million, a decrease of 6.9% from $11.6 million for the first quarter of fiscal year 2022. · Gross margin declined to 17.7% compared to 22.5% for the first quarter of fiscal year 2022. ·

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Forward Industries, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-000886

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