Koss swings to Q1 loss on nonrecurring education customer order, higher freight costs

By Reuters News


Overview

  • US headphone maker's Q1 net sales fell 24% yr/yr

  • Company posted Q1 net loss after profit a year earlier

  • Sales drop due to non-recurrence of large education customer order last year


Outlook

  • Company expects domestic distributor and DTC sales to support positive trends through fiscal year


Result Drivers

  • DOMESTIC DISTRIBUTORS - Co said sales to certain domestic distributors were strong in Q1

  • DTC SALES - Co said direct-to-consumer sales continue to positively impact sales

  • GROSS MARGIN PRESSURE - Co said gross margin declined due to lower sales base and higher freight rates, offsetting positive impact from DTC sales and tariff refund


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Loss Per Share

$0.02


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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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