Acme United(ACU) Newsfilter·2025-02-28 14:00Financial Performance - Acme United Corporation reported net sales of 41.9 million in Q4 2023 [1] - For the full year 2024, net sales reached 191.5 million in 2023; excluding the impact of the sale of the Camillus and Cuda product lines, net sales increased by 6% [1] - Net income for Q4 2024 was 0.41 per diluted share, compared to 0.40 per diluted share in Q4 2023, marking a 9% increase in net income and a 3% increase in diluted earnings per share [2] - For the year ended December 31, 2024, net income was 2.45 per diluted share, a 23% increase in net income and a 10% increase in diluted earnings per share compared to 2023 [2][3] Market Segments - In the U.S. segment, net sales increased by 12% for Q4 2024 compared to the same period in 2023, while for the full year, net sales increased by 2% [5] - European net sales for Q4 2024 decreased by 1% compared to Q4 2023, but increased by 5% for the full year [6] - Canadian net sales decreased by 3% in Q4 2024 and 5% for the full year compared to 2023, although excluding Camillus and Cuda, net sales increased by 1% for the year [7] Operational Efficiency - The gross margin for Q4 2024 was 38.7%, slightly down from 39.1% in Q4 2023; however, the gross margin for the full year improved to 39.3% from 37.7% in 2023, attributed to productivity improvements [8] - The company successfully reduced costs and implemented productivity improvements, contributing to a 23% growth in net income [3] Strategic Initiatives - The acquisition of Elite First Aid in May 2024 has been fully integrated, with plans to expand its distribution and sales in 2025 [4] - The company maintains strong liquidity and is positioned for further acquisitions and growth in 2025 [4] Financial Position - As of December 31, 2024, the company's bank debt less cash was 19.0 million as of December 31, 2023 [9] - The company generated approximately $5.0 million in free cash flow during the year [9]