Back to top
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
Image: Bigstock
KOSS Q4 Loss Narrows Y/Y, Revenue Declines on Weak Export Sales
Koss Corporation (KOSS - Free Report) incurred a fourth-quarter fiscal 2024 loss per share of 1 cent, narrower than 3 cents in the fourth quarter of fiscal 2023. The company incurred a net loss of $0.1 million for the quarter, narrower than the $0.3 million reported in the prior-year quarter.
Revenues for the quarter decreased 5.9% to $2.9 million from $3.1 million in the same quarter of the previous year.
The quarterly financial performance reflects a challenging period for Koss, with sales impacted primarily by a decrease in orders from its largest European distributor, attributed to delayed inventory replenishments. This was somewhat offset by a 60% increase in sales in the Education sector and a 16% rise in Direct-to-Consumer (DTC) sales, fueled by new product additions and a slight resurgence in popular headphone models.
Koss Corporation Price, Consensus and EPS Surprise
Koss Corporation price-consensus-eps-surprise-chart | Koss Corporation Quote
Financial Performance
Koss' financial struggles for this quarter can be largely attributed to reduced sales in key export markets, particularly in Europe and Asia. European sales were affected by higher costs of living and interest rates, leading to cash conservation efforts by distributors.
In Asia, decreased sales of an original equipment manufacturer of metal detectors further dampened the figures. However, the company saw a nearly 50% increase in e-tailer sales and received significant orders for custom headphones from a new client, which helped mitigate overall sales declines.
The company’s gross profit for the quarter stood at $1.2 million, up from $0.8 million in the previous year, reflecting improved cost management despite reduced sales volume. Selling, general, and administrative expenses slightly increased to $1.5 million from $1.4 million, highlighting ongoing operational challenges.
Full-Year Update
For fiscal 2024, Koss recorded revenues of $12.3 million, a 6.4% decrease from the previous year's $13.1 million. The fiscal year ended with a significant net loss of $1 million against the net income of $8.3 million reported in the prior year. The company incurred a loss of 10 cents per share against earnings of 85 cents per share in fiscal 2023.