SHELTON, Conn., April 10, 2025 (GLOBE NEWSWIRE) -- Acme United Corporation (NYSE American: ACU) will release its financial results for the first quarter of 2025 on Thursday, April 17, 2025, at 9:00 AM Eastern Time. A conference call to discuss these results will be broadcast over the internet on Thursday, April 17, 2025, at 12:00 p.m. Eastern Time. To listen or participate in a question-and-answer session, dial 1- 877-407-0784, international callers dial 1- 201-689-8560, conference ID: 13752605. Access to t ...

Core Insights - The author transitioned from a traditional finance career to focus on personal finance education through online platforms [1] Group 1: Background and Experience - The author has a background in finance-marketing, holding a bachelor's degree, CFP title, and an MBA in financial services [1] - The author worked in private banking for five years before deciding to pursue a different path [1] Group 2: Career Transition - In 2016, the author took a family trip across North America and Central America, which influenced the decision to leave the financial industry [1] - The author spent three months in Costa Rica during this journey, which was described as an eye-opening adventure [1] - In 2017, the author quit the financial industry to help others with personal finance through investing websites [1]

Company Overview - Acme United Corporation is a leading worldwide supplier of innovative safety solutions and cutting technology across various markets including school, home, office, hardware, sporting goods, and industrial sectors [3]. Upcoming Event - Acme United Corporation will participate in the LD Micro Invitational XV, scheduled for April 9-10, 2025, at the Westin Grand Central [1]. - Walter C. Johnsen, Chairman and CEO, is set to present on April 10 at 11:30 AM ET [2]. - A slide presentation will be available on the company's Investor Relations page during the webcast [2].

Financial Performance - In 2024, net sales increased by $2,989,044, or 2%, to $194,489,991 compared to $191,500,947 in 2023, with a 6% increase when excluding the impact of certain product lines sold[135] - Gross profit was $76,350,824, representing 39.3% of net sales in 2024, up from $72,210,235 or 37.7% in 2023, primarily due to productivity improvements[139] - Operating income rose by $951,325 to $14,139,942 in 2024, with a significant increase in the U.S. segment offset by a decrease in the European segment[141] Expenses - Selling, general and administrative expenses increased by $3,189,264, or 5.4%, to $62,210,882 in 2024, accounting for 32.0% of net sales compared to 30.8% in 2023[140] - Net interest expense decreased by $1,034,521 to $1,942,643 in 2024 due to a lower average debt outstanding[143] - Income tax expense was $2,270,058 in 2024, with an effective tax rate of 18%, down from 22% in 2023, influenced by a higher proportion of earnings in lower tax jurisdictions[145] Other Income and Gains - Total other income, net was $95,110 in 2024, a significant decrease from $12,523,151 in 2023, primarily due to a prior gain on the sale of business assets[144] - The company sold the assets of its Camillus Cutlery and Cuda business lines for $19.8 million, resulting in a gain of approximately $12.6 million recorded in 2023[152] Acquisitions and Working Capital - The company acquired the assets of Elite First Aid, Inc. for approximately $7.1 million on May 23, 2024[151] - Working capital increased by approximately $6.6 million during 2024, with inventory turnover remaining stable at 2.1[147]

Financial Data and Key Metrics Changes - Acme United Corporation reported record net sales of $194.4 million for 2024, an increase of 2% from $191.5 million in 2023, with adjusted net revenues increasing by 6% after excluding the sold businesses [4][5][16] - Net income for 2024 was $10 million, a 23% increase from $8.1 million in 2023, with earnings per share rising to $2.45 from $2.23, marking a 10% increase [5][6][21] - The gross margin for the year improved to 39.3% from 37.7% in 2023, attributed to productivity improvements [19][20] Business Line Data and Key Metrics Changes - The First Aid business generated approximately $120 million in revenues, with refills for first aid kits around $30 million, showing strong growth [7][8] - The Westcott cutting and DMT sharpening business reported net revenues of approximately $75 million, a 10% increase compared to 2023, driven by market share gains [10] - Overall, the First Aid segment saw a 5% increase in sales, while the Westcott segment contributed significantly to the overall revenue growth [69] Market Data and Key Metrics Changes - Net sales in the US segment increased by 12% in Q4 2024, with an 8% increase for the year when excluding the sold product lines [17][18] - European sales declined by 1% in local currency for the quarter, but increased by 8% for the year when excluding the sold businesses [17][18] - Canadian sales remained constant in local currency for the quarter, with a 1% increase for the year [19] Company Strategy and Development Direction - The company has focused on diversifying its sourcing and production locations, including investments in manufacturing sites in the US and Canada, as well as expanding production in Egypt, Thailand, and India [14][30] - Acme United has implemented productivity initiatives that resulted in over $2 million in annual savings, optimizing costs across various operations [11][20] - The company is optimistic about 2025, citing a strong customer base and solid financials, while preparing for potential challenges related to tariffs [13][15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by high inflation and interest rates, as well as supply chain disruptions, but expressed confidence in the company's preparedness for upcoming tariffs [3][4] - The company has been proactive in purchasing inventory in advance of tariffs and adjusting pricing strategies to maintain margins [54] - Management emphasized the importance of maintaining productivity and cost control to mitigate the impact of tariffs on operations [35][42] Other Important Information - The company sold its Cuda and Camillus hunting and fishing business for $19.8 million in November 2023, using the proceeds to reduce debt and position for growth [4] - Acme United has made strategic acquisitions over the past eight years, enhancing its production capabilities and market presence [14] Q&A Session Summary Question: Preparation for upcoming tariffs - Management detailed their preparation strategies, including domestic production expansions and dual sourcing in competitive regions like Egypt and Thailand [28][30][32] Question: Impact of tariffs on input prices and sales - Management indicated that tariffs would primarily affect costs, and they would work with suppliers to adjust pricing while maintaining value for customers [42][43] Question: Update on the Canadian acquisition of Hawktree Solutions - The acquisition has been successful, with the business growing to $2.5 to $3 million profitably, and contracts renewed with the Canadian Red Cross [56][58] Question: European sales numbers - Management clarified that European sales numbers were included in the press release, and provided details on the performance of different business segments [62][69] Question: SG&A expenses outlook - Management confirmed expectations for SG&A expenses to remain between 31% and 32% of sales, with recent increases attributed to inflation and wage growth [78][83]

Financial Performance - Net sales for Q4 2024 increased by 10% to $45.9 million compared to $41.9 million in Q4 2023[1] - Net income for Q4 2024 was $1.70 million, representing a 9% increase from $1.56 million in Q4 2023[2] - For the year 2024, net sales were $194.5 million, a 2% increase from $191.5 million in 2023[1] - Excluding the impact of the sale of the Camillus and Cuda product lines, net sales for 2024 increased by 6% compared to 2023[1] - The U.S. segment saw a 12% increase in net sales for Q4 2024 compared to the same period in 2023[5] Acquisition and Integration - The acquisition of Elite First Aid in May 2024 has been fully integrated, with plans for aggressive expansion in 2025[4] Profitability and Cash Flow - Gross margin for the year 2024 improved to 39.3% from 37.7% in 2023, driven by productivity improvements[9] - The company generated approximately $5.0 million in free cash flow during 2024[10] Assets and Liquidity - Total assets increased to $162.2 million as of December 31, 2024, up from $149.2 million in 2023[23] - The company has strong liquidity and is positioned for further acquisitions and growth in 2025[4]

Financial Performance - Acme United Corporation reported net sales of $45.9 million for Q4 2024, a 10% increase from $41.9 million in Q4 2023 [1] - For the full year 2024, net sales reached $194.5 million, up 2% from $191.5 million in 2023; excluding the impact of the sale of the Camillus and Cuda product lines, net sales increased by 6% [1] - Net income for Q4 2024 was $1.70 million, or $0.41 per diluted share, compared to $1.56 million, or $0.40 per diluted share in Q4 2023, marking a 9% increase in net income and a 3% increase in diluted earnings per share [2] - For the year ended December 31, 2024, net income was $10.02 million, or $2.45 per diluted share, a 23% increase in net income and a 10% increase in diluted earnings per share compared to 2023 [2][3] Market Segments - In the U.S. segment, net sales increased by 12% for Q4 2024 compared to the same period in 2023, while for the full year, net sales increased by 2% [5] - European net sales for Q4 2024 decreased by 1% compared to Q4 2023, but increased by 5% for the full year [6] - Canadian net sales decreased by 3% in Q4 2024 and 5% for the full year compared to 2023, although excluding Camillus and Cuda, net sales increased by 1% for the year [7] Operational Efficiency - The gross margin for Q4 2024 was 38.7%, slightly down from 39.1% in Q4 2023; however, the gross margin for the full year improved to 39.3% from 37.7% in 2023, attributed to productivity improvements [8] - The company successfully reduced costs and implemented productivity improvements, contributing to a 23% growth in net income [3] Strategic Initiatives - The acquisition of Elite First Aid in May 2024 has been fully integrated, with plans to expand its distribution and sales in 2025 [4] - The company maintains strong liquidity and is positioned for further acquisitions and growth in 2025 [4] Financial Position - As of December 31, 2024, the company's bank debt less cash was $21.5 million, an increase from $19.0 million as of December 31, 2023 [9] - The company generated approximately $5.0 million in free cash flow during the year [9]

Core Viewpoint - Acme United Corporation is set to release its financial results for Q4 2024 on February 28, 2025, with a conference call scheduled for the same day to discuss these results [1][2]. Company Overview - Acme United Corporation is a leading global supplier of innovative safety solutions and cutting technology, serving various markets including school, home, office, hardware, sporting goods, and industrial sectors [3]. - The company’s prominent brands include First Aid Only®, First Aid Central®, PhysiciansCare®, Spill Magic®, Westcott®, Clauss®, DMT®, Med-Nap, Safety Made, and Elite [3].

Financial Performance - Net sales for the three months ended September 30, 2024, were $48,166 thousand, a decrease of 4.4% compared to $50,384 thousand for the same period in 2023[7] - Gross profit for the three months ended September 30, 2024, was $18,564 thousand, down from $19,503 thousand in 2023, reflecting a gross margin of 38.6%[7] - Operating income for the three months ended September 30, 2024, was $2,926 thousand, compared to $3,657 thousand in the prior year, indicating a decline of 20%[7] - Net income for the three months ended September 30, 2024, was $2,226 thousand, slightly up from $2,152 thousand in 2023, resulting in basic earnings per share of $0.60[7] - Comprehensive income for the three months ended September 30, 2024, was $2,629 thousand, an increase from $1,847 thousand in 2023, driven by foreign currency translation adjustments[8] - Net income for the nine months ended September 30, 2024, increased to $8,315,000, compared to $6,586,000 for the same period in 2023, representing a growth of approximately 26.3%[16] - Gross profit for the nine months ended September 30, 2024, increased to $58,587, up 5.0% from $55,807 in the prior year[4] - Operating income for the three months ended September 30, 2024, was $2,926, down 20.0% from $3,657 in the same period last year[4] - Basic earnings per share for the three months ended September 30, 2024, remained stable at $0.60, compared to $0.60 in the same period of 2023[4] - Selling, general and administrative expenses for the nine months ended September 30, 2024, were $46,728, up 4.5% from $44,711 in the same period last year[4] Cash Flow and Investments - Total cash provided by operating activities for the nine months ended September 30, 2024, was $5,604,000, a decrease from $21,662,000 in 2023, indicating a decline of about 74.1%[16] - Cash used in investing activities totaled $12,343,000 for the nine months ended September 30, 2024, compared to $4,523,000 in 2023, indicating an increase of about 173.5%[16] - The company reported a cash balance of $5,702,000 at the end of the period, compared to $6,317,000 at the end of the previous year, reflecting a decrease of about 9.7%[16] - Cash paid for income taxes was $1,922 million, up from $776 million in the previous year, an increase of 146.5%[16] - Cash paid for interest decreased to $1,443 million from $2,592 million, a decline of 44.2%[16] Debt and Liabilities - Total liabilities increased to $59,156 thousand as of September 30, 2024, from $51,343 thousand at December 31, 2023, primarily due to an increase in long-term debt[5] - The company had outstanding borrowings of $22,059,000 under its revolving loan agreement as of September 30, 2024, an increase from $13,165,000 at the end of 2023[35] - Total debt outstanding under the revolving credit facility increased by approximately $8.9 million, with $22,059,000 outstanding as of September 30, 2024[84] - Long-term debt to equity ratio increased to 30.1% from 23.9%[83] Equity and Dividends - Stockholders' equity rose to $106,317 thousand as of September 30, 2024, compared to $97,898 thousand at the end of 2023, reflecting retained earnings growth[6] - The company declared dividends of $0.15 per share for the three months ended September 30, 2024, compared to $0.14 per share in the same period last year[7] Shareholder Information - The weighted average number of common shares outstanding for basic earnings per share calculations was 3,726 thousand for the three months ended September 30, 2024, compared to 3,578 thousand in the prior year[7] - The company reported a total of 3,741,453 outstanding shares of common stock as of September 30, 2024, up from 3,645,200 shares as of December 31, 2023[13] - The Company issued 16,921 shares of common stock during the three months ended September 30, 2024, raising proceeds of $411,000[37] Operational Metrics - The company reported a decrease in selling, general, and administrative expenses to $15,638 thousand for the three months ended September 30, 2024, from $15,846 thousand in 2023[7] - Inventory turnover was 2.1 as of September 30, 2024, consistent with the previous year-end[82] - Receivables increased by approximately $5.1 million, with days sales outstanding improving slightly from 55 days to 54 days[82] - Accounts payable and other current liabilities decreased by approximately $4.1 million[82] Acquisitions - The company acquired Elite First Aid for $6,141,000 during the nine months ended September 30, 2024[16] - The Company acquired certain assets of Elite First Aid, Inc. for a purchase price of $7,141,000 on May 23, 2024[57] - The company recognized revenue from sales of products in two main categories: first aid and medical, and cutting and sharpening, with revenue recognition evaluated through a five-step process[21] Future Outlook - The company expects that cash generated from operating activities, along with available funds under its revolving loan agreement, will be sufficient to finance operations over the next twelve months[86] - The company is currently evaluating the impact of adopting new accounting standards issued by the FASB, including ASU No. 2023-07 and ASU No. 2023-09, which will affect segment reporting and income tax disclosures respectively[18][19]

Core Viewpoint - Acme United Corporation will participate in the LD Micro Main Event XVII 2024, showcasing its commitment to engaging with investors and the market [1]. Company Overview - Acme United Corporation is a leading global supplier of innovative safety solutions and cutting technology across various markets including school, home, office, hardware, sporting goods, and industrial sectors [2]. - The company’s prominent brands include First Aid Only®, First Aid Central®, PhysiciansCare®, Spill Magic®, Westcott®, Clauss®, DMT®, Med-Nap, Safety Made, and Elite [2].