Koss(KOSS) GlobeNewswire·2025-01-30 22:15Core Insights - Koss Corporation reported a net sales increase of 5.9% for the second quarter ended December 31, 2024, reaching 3,360,124 in the same period last year [2] - The company achieved a net income of 269,153 in the prior year [2] - For the six months ended December 31, 2024, net sales were 6,734,062 in the same period last year, while the net loss improved to 526,762 [3] Financial Performance - Gross margins increased to 38.1% for the first half of the current fiscal year, up from 32.3% in the prior year, driven by higher direct-to-consumer sales and new product sales to Europe [4] - Selling, general and administrative expenses for the second quarter were 1,584,523 in the previous year [7] - The company reported a loss from operations of 476,083 in the same period last year [7] Sales and Market Dynamics - Sales to the two largest export distributors significantly contributed to the sales increase, with new product sales exceeding expectations and surpassing prior year sales to the European market by over 100% [4] - Increased direct-to-consumer sales and a significant custom order from a new domestic customer also contributed to growth, although these gains were partially offset by lower sales to the education market and U.S. domestic distributors [4] - The company experienced slight increases in freight costs and anticipates further rises, indicating a need to monitor supply chain dynamics closely [4]