Reports Q1 revenue $69.4M, consensus $68.63M. Paul Walker, President and Chief Executive Officer, commented, "We are very pleased with our strong start to fiscal 2023, which was driven by continued strong revenue growth, gross margins, and operational efficiency, which contributed to increased net income and Adjusted EBITDA. Our first quarter results featured a 13% increase in sales, a 76.0% gross margin, a 22% increase in net income, and a 16% increase in Adjusted EBITDA to $11.5 million. We achieved these outstanding results despite continued international operating issues, including the impact of $2.0 million of unfavorable foreign exchange on our first quarter sales and continued operating challenges in China and Japan."
Published first on TheFly
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