Financial Performance - Net sales for the three months ended January 31, 2025, totaled $21,305,285, an increase of $1,764,883, or 9%, from $19,540,402 for the same period in 2024[90] - Cost of sales for the three months ended January 31, 2025, was $15,573,359, or 73.1% of net sales, compared to $16,060,103, or 82.2% of net sales, for the same period in 2024, reflecting a decrease of $486,744[91] - Gross profit for the three months ended January 31, 2025, amounted to $5,731,926, or 26.9% of net sales, compared to $3,480,299, or 17.8% of net sales, for the same period in 2024[92] - Net income for the three months ended January 31, 2025, was $1,153,256, or $0.20 per share, compared to a net loss of $351,024, or $0.06 per share, for the same period in 2024[96] Operating Expenses and Cash Flow - Total operating expenses increased by $1,277,507 to $4,140,895 for the three months ended January 31, 2025, from $2,863,388 for the same period in 2024[93] - Operating activities used cash of $401,898 for the three months ended January 31, 2025, compared to net cash provided of $4,594,849 for the same period in 2024[104] - Cash used in investing activities was $817,906 for the three months ended January 31, 2025, compared to $0 for the same period in 2024[105] - For the three months ended January 31, 2025, net cash used in financing activities was $2,200,000, a decrease of approximately 55.3% compared to $4,920,963 for the same period in 2024[106] Working Capital and Credit - Working capital as of January 31, 2025, was $22,386,733, representing an increase of $859,750 from $21,526,983 as of October 31, 2024[97] - The outstanding balance on the line of credit was $2,200,000 as of January 31, 2025, down from $9,620,000 as of October 31, 2024[103] - The company expects to fund its operations for at least the next twelve months through cash provided by operating activities and the use of its credit facility[107] - An increase in eligible accounts receivable and inventory may allow the company to make additional borrowings under its line of credit[107] Strategic Decisions and Market Risk - The company plans to continue evaluating strategic decisions to acquire and invest in measures expected to increase net sales[82] - The company does not have any off-balance sheet arrangements that could materially affect its financial condition or results of operations[108] - There are no applicable quantitative and qualitative disclosures about market risk[110]
fee (JVA) - 2025 Q1 - Quarterly Report