Sales Performance - Sales for the quarter were $47,764,000, a decrease of 3.3% from $50,436,000 in the comparable period of the prior year[86]. - Domestic sales increased by 6.5% to $36,409,000, while international sales decreased by 30.1% to $11,355,000 due to construction site delays in India[86]. Order Backlog - The Company's order backlog was $184.4 million at October 31, 2024, up from $146.3 million at October 31, 2023[89]. Profitability - Gross profit margin for the three months ended October 31, 2024 was 29.2%, an increase from 26.7% in the prior year[90]. - Net earnings for the three months ended October 31, 2024 were $3,008,000, or $1.01 per diluted share, compared to $2,732,000, or $0.93 per diluted share in the prior year[95]. Operating Expenses - Operating expenses for the three months ended October 31, 2024 were $9,518,000, or 19.9% of sales, compared to $8,359,000, or 16.6% of sales in the prior year[91]. Tax Rate - The effective income tax rate for the three months ended October 31, 2024 was 23.3%, down from 41.6% in the prior year[93]. Working Capital - The Company had working capital of $59,965,000 at October 31, 2024, compared to $56,037,000 at April 30, 2024[97]. Acquisition - The Company completed the acquisition of Nu Aire for $55.0 million, enhancing its capabilities in laboratory furnishings[82]. - The Company continues to focus on expanding its capabilities and presence domestically following the acquisition of Nu Aire[101].
Kewaunee Scientific (KEQU) - 2025 Q2 - Quarterly Report