Wed, Jul 3, 3:00 PM (256 days ago)
Video Display Corporation's fiscal year 2024 results highlight a 47.5% increase in net sales to $8.3 million, driven primarily by the Simulation and Training division, which contributed 92% of sales. Gross profit improved significantly, with margins rising from 26.8% to 36.0%, resulting in a gross profit of $3.0 million. Operating expenses were reduced to 38.1% of sales from 52.8% in the prior year. The company reported a net income from continuing operations of $0.5 million, reversing a loss of $1.2 million in fiscal 2023. Discontinued operations, including the sale of two subsidiaries, resulted in a net loss of $0.7 million. The company faces liquidity challenges with a working capital deficit of $1.1 million and continues to rely on related party loans. Future growth is anticipated from increased marketing efforts and new product developments in ruggedized displays.