Net income in the final fiscal quarter ended Apr. 30 was $1,248,000 against a $90,675,000 loss that included a $98.9 million goodwill impairment charge triggered by the Covid breakout last year, as revenues jumped 50% to $64,473,000 from $43,084,000. E-commerce sales returned to a more normal on-third of revenues, lapping last year’s store closures. Excluding the impairment, spinoff related costs and other items, adjusted EBITDAS was $6,963,000, up from $3,126,000. Gross margin was flat at 44.4%, while SG&A was up 25% in dollars, but leveraged on the higher sales.

For its first fiscal year as a public company, net income came ... Log in to view full article.