Koss(US:KOSS)2024-08-29 21:28Financial Performance - Sales for Q4 2024 were $2,893,401, a decline of 5.9% compared to $3,073,350 in Q4 2023[1] - The net loss for Q4 2024 was $110,369, an improvement from a net loss of $259,839 in Q4 2023[1] - For the fiscal year ended June 30, 2024, total sales were $12,265,069, down $834,582 or 6.4% from $13,099,651 in the prior year[2] - The net loss for the fiscal year 2024 was $950,911, a significant decline from net income of $8,319,212 in the previous fiscal year[2] Sales Channels - Direct-to-Consumer (DTC) sales increased by 16% due to new product offerings, while sales to the Education sector rose approximately 60%[2] - DTC sales overall were down nearly 20% as customers became more selective in discretionary spending due to inflation[3] - Sales to E-tailers saw an almost 50% increase, partially offsetting the overall sales decline[3] Operational Challenges - The company experienced delays in orders from its largest European distributor due to cash conservation measures[2] Earnings Per Share - Basic and diluted loss per common share for Q4 2024 was $0.01, compared to $0.03 in Q4 2023[7] - Basic and diluted loss per common share for the fiscal year 2024 was $0.10, compared to earnings of $0.90 and $0.85 in the previous year[2]