Financial Performance: Koss Corporation reported a 5.9% decline in fourth-quarter sales for fiscal year 2024, totaling $2.89 million, with a net loss of $110,369 compared to a larger loss of $259,839 the previous year. Annual sales also decreased by 6.4%, resulting in a significant net loss of $950,911, contrasting with a profit of $8.32 million in the prior fiscal year.
Market Challenges: The decrease in sales was attributed to lower orders from a major European distributor and reduced Direct-to-Consumer sales due to inflation and consumer spending constraints, although there were notable increases in sales to the Education sector and E-tailers.
KOSS
$4.51+Infinity%1D
Analyst Views on KOSS
About KOSS
Koss Corporation is engaged in marketing high-fidelity headphones, wireless Bluetooth speakers, computer headsets, telecommunications headsets, active noise-canceling headphones, and wireless headphones. The Company operates in the audio/video industry segment of the home entertainment and communication industry through its design, manufacture and sale of stereo headphones and related accessory products. The Company’s products are sold through United States distributors, international distributors, audio specialty stores, the Internet, national retailers, grocery stores, electronics retailers, and prisons under the Koss name, as well as private label. The Company also sells products to distributors for resale to school systems, and directly to other manufacturers for inclusion with their own products. The Company has a manufacturing facility in Milwaukee, Wisconsin and uses contract manufacturing facilities in the People’s Republic of China and Taiwan.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
