Published on 26 Apr 2024 on GuruFocus.com via Yahoo Finance
Revenue: Reported at $426.1 million, marking a 3.9% increase and surpassing estimates of $413.21 million.Net Income: Achieved $12.6 million, significantly exceeding the estimated $0.70 million.Earnings Per Share (EPS): Recorded at $1.04 per diluted share, vastly outperforming the estimated -$0.01.Gross Margin: Improved to 43.7%, up 570 basis points from the previous year, benefiting from price increases and efficient cost management.Share Repurchases: Bought back $65.0 million in shares, demonstrating strong cash generation and shareholder return focus.Operational Efficiency: Decreased advertising, promotional, and selling expenses by $5.2 million due to lower freight rates and improved efficiencies.Financial Position: Ended the quarter with $205.4 million in cash and no debt, maintaining a robust balance sheet.
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