Financial Performance - Second quarter revenue increased by 60.1% year over year, reaching $2.12 million compared to $1.32 million in the same period last year[1] - Gross profit for the second quarter rose by 117.8% year over year, totaling $834,000, with a gross profit margin of 39.4% compared to 29.0% in the prior year[3] - The company reported a net income of $231,000 for the second quarter, compared to $213,000 in the same period last year, reflecting a currency exchange gain of $58,000[5] - Interest income for the second quarter was approximately $58,000, attributed to rising interest rates, with a total of $103,000 for the first half of fiscal year 2025[6] Expenses - Selling, general and administrative expenses increased to $724,000 from $272,000, primarily due to a reversal of bad debt provisions in the previous year[4] Assets and Liabilities - Cash and cash equivalents amounted to $5.6 million, or approximately $1.28 per diluted share, exceeding all short- and long-term liabilities by approximately $1.4 million[7] - Total assets as of September 30, 2024, were $11.0 million, with total shareholders' equity of $6.8 million[7] Future Projects and Strategy - The company is set to launch a new motor project with production expected to start in the fiscal third quarter of 2025, which is anticipated to positively impact revenue growth[2] - The company is evaluating numerous potential ventures as part of its growth strategy, aiming to enhance future performance[2] - The company remains cautiously optimistic about improving business conditions despite ongoing challenges from the macro environment[2]
Highway Holdings(HIHO) - 2025 Q2 - Quarterly Report