Hamilton Beach(HBB) - 2025 Q1 - Quarterly Results

Financial Performance - Revenue increased 4.0% to $133.4 million compared to $128.3 million[3] - Gross margin expanded 120 basis points to 24.6% compared to 23.4%[3] - Operating profit increased to $2.3 million compared to a loss of $0.9 million[6] - Net income was $1.8 million, or $0.13 per diluted share, compared to a net loss of $1.2 million, or $0.08 per diluted share[6] - Net income for the three months ended March 31, 2025, was $1,805,000, compared to a net loss of $1,162,000 in the same period of 2024[20] Cash Flow and Liquidity - Cash flow from operations was $6.6 million compared to $19.7 million[7] - Net cash provided by operating activities was $6,620,000, a decrease from $19,701,000 in the prior year[20] - Total cash, cash equivalents, and restricted cash at the end of the period was $48,296,000, up from $27,244,000 a year earlier[20] - Net (cash) debt as of March 31, 2025, was $1,700,000, compared to a net cash position of $(600,000) at the end of 2024[21] - Cash dividends paid increased to $1,585,000 from $1,531,000 in the previous year[20] - The balance of cash and cash equivalents increased by $1,772,000 during the period, compared to an increase of $10,865,000 in the previous year[20] Expenses and Investments - SG&A expenses decreased to $30.4 million compared to $30.9 million[5] - The company reported a depreciation and amortization expense of $1,225,000, slightly up from $1,188,000 in the prior year[20] - The company had a net cash used for investing activities of $(516,000), down from $(6,749,000) in the prior year[20] Debt and Financial Position - Total debt was $50.0 million; net debt decreased to $1.7 million from $23.7 million[9] Operational Changes - HealthBeacon contributed $1.5 million of revenue in the first quarter of 2025[4] - The company is working to diversify its sourcing base to mitigate tariff impacts[2] - The company temporarily suspended its practice of providing forward-looking commentary due to increased tariff uncertainty[10] Inventory and Receivables - Trade receivables decreased to $34,899,000 from $46,236,000 year-over-year[20] - Inventory levels increased to $(40,645,000) compared to $(9,614,000) in the previous year, indicating a significant rise in inventory[20]