Candorium Free Members
Join Candorium to access the full article and more
Free Member Benefits:
✔
Comment & Reply✔
Newsletter Access✔
Follow Authors✔
Share via SMS Go Back
Video Display Corp Reports Net Loss of $96 Thousand for the 6 Months Ended August 31, 2023
By USInMinutes - Oct 12, 2023, 09:32 AM ET
Last Updated - Oct 12, 2023, 09:32 AM EDT
Quarterly Revenue of $2.4 Million
VIDEO DISPLAY CORP [VIDE], a leading provider of display solutions, has reported a net loss of $96 thousand for the 6 months ended August 31, 2023. The company generated quarterly revenue of $2.4 million during the same period.
Sponsored
Financial Performance
Despite the net loss, Video Display Corp has shown stability in its financial performance. The company reported a gross profit of $588 thousand, resulting in a gross profit margin of 24.8%. Operating expenses totaled $959 thousand, including selling and delivery expenses of $149 thousand and general and administrative expenses of $810 thousand. As a result, the company recorded an operating loss of $371 thousand.
Revenue Growth
Video Display Corp experienced an increase in net sales compared to the previous quarter, with $2.4 million in revenue for the 3 months ended August 31, 2023. This represents a growth rate of 20.3% over the previous quarter. The company's cost of goods sold amounted to $1.8 million, resulting in a gross profit margin of 25.0%.
Financial Stability
The company's balance sheet reveals a relatively stable financial position. Video Display Corp has total assets of $6.3 million, including current assets of $5.4 million. Current liabilities amount to $6.6 million, resulting in a working capital deficit of $0.3 million. The company maintains a positive retained earnings balance of $8.3 million.
Earnings Per Share
Video Display Corp reported a basic and diluted loss per share of $0.02 for the 6 months ended August 31, 2023. The company had 5,878 weighted average shares outstanding during the period.
Outlook
Looking ahead, Video Display Corp aims to improve its financial performance and achieve profitability. The company anticipates implementing cost-saving measures and pursuing new business opportunities. Management remains cautiously optimistic about the future growth prospects of the display solutions market.
The 6-month financial report for Video Display Corp shows a net loss of $96 thousand. Despite this loss, the company has shown stability in its financial performance and aims to improve profitability in the coming months. With a focus on cost-saving measures and pursuing new business opportunities, Video Display Corp aims to capitalize on the growth potential of the display solutions market.
Sponsored
Read More from Quarterly Reports
Read More from USinMinutes
Popular News
Latest News
