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Forward Industries Company profile

About Forward Industries, Inc.

Forward Industries, Inc. is a fully integrated design, development and manufacturing solution provider for medical and technology customers worldwide. The Company’s subsidiaries include Forward Industries (IN), Inc., Forward Industries (Switzerland) GmbH, Forward Industries UK Limited, Intelligent Product Solutions, Inc. and Kablooe, Inc. It operates through three segments: OEM distribution, retail distribution and design. The OEM distribution segment sources and distributes carrying cases and other accessories for medical monitoring and diagnostic kits and a variety of other portable electronic and non-electronic devices directly to OEMs or their contract manufacturers. The retail distribution segment sources and sells smart-enabled furniture and a variety of other products through agreements with various retailers, both in stores and through online retailer websites. The design segment provides a full spectrum of hardware and software product design and engineering services.

Financial summary

BRIEF: For the three months ended 31 December 2021, Forward Industries, Inc. revenues increased 20% to $11.6M. Net income decreased 85% to $180K. Revenues reflect Design segment increase of 21% to $5M. Basic Earnings per Share excluding Extraordinary Items decreased from $0.12 to $0.02.

Equity composition

Common Stock $.01 Par, 01/11, 40M auth., 8,791,296 issd., less 706,410 shs. in Treas. @ $1.3M. Insiders & Strategic holders own 14.04%. IPO 3/71, 100K shares @$7 by A.C. Kluger & Co. 5/97, private placement of 56 Units (1 Warrant + 30,000 Common shs.) @ $25,000/Unit.* FY'99 fin. restated & FY'00 & '01 Q's are reclassified.1/96, 2-for-1 stock split