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