SIFCO Industries(US:SIF)2024-12-24 02:15Financial Performance - Net sales for Q4 2024 increased by 14% to $21.7 million, compared to $19.0 million in Q4 2023[13] - Net loss from continuing operations for Q4 2024 was $1.9 million, or $(0.33) per diluted share, an improvement from a net loss of $3.2 million, or $(0.53) per diluted share, in Q4 2023[13] - EBITDA for Q4 2024 was $0.8 million, compared to $(1.5) million in Q4 2023[13] - Net sales for fiscal 2024 increased by 20% to $79.6 million, compared to $66.1 million in fiscal 2023[14] - Net loss from continuing operations for fiscal 2024 was $8.6 million, or $(1.44) per diluted share, compared to a net loss of $10.5 million, or $(1.77) per diluted share, in fiscal 2023[14] - The company reported a net loss of $5.4 million for fiscal 2024, an improvement from a net loss of $8.7 million in fiscal 2023[18] - Basic loss per share from continuing operations improved to $(1.44) in fiscal 2024 from $(1.77) in fiscal 2023[18] Customer Demand - Customer backlog grew to $114.4 million at the end of fiscal 2024, indicating strong demand for the company's solutions[15] Adjusted EBITDA - Adjusted EBITDA for fiscal 2024 was $0.8 million, compared to $(2.6) million in fiscal 2023[14] - Adjusted EBITDA for the three months ended September 30, 2023, was $786,000, an improvement from a loss of $1,270,000 in the same quarter last year[21] Quarterly Performance - Net loss for the three months ended September 30, 2023, was $443,000, compared to a loss of $3,102,000 for the same period in 2022[21] - Loss from continuing operations decreased to $1,878,000 for the three months ended September 30, 2023, from $3,218,000 in the prior year[21] Expenses - Depreciation and amortization expense for the three months ended September 30, 2023, was $1,178,000, slightly down from $1,247,000 in the previous year[21] - Interest expense, net, increased to $1,015,000 for the three months ended September 30, 2023, compared to $319,000 in the same period last year[21] - Income tax expense for the three months ended September 30, 2023, was $497,000, up from $148,000 in the prior year[21] Discontinued Operations - Total income from discontinued operations for the three months ended September 30, 2023, was $1,435,000, compared to $116,000 in the same period last year[21] Non-Recurring Expenses - The company incurred a non-recurring severance expense of $435,000 during the year ended September 30, 2023[21] LIFO Impact - The company experienced a LIFO impact of $862,000 for the year ended September 30, 2023, compared to a negative impact of $305,000 in the previous year[21]