Net income at the South African protective equipment maker swung to a loss of $2,204,664 in 2024 compared to a profit of $803,159 in the prior year on 7% lower revenues of $44,027,942 down from $47,241,187. Royalty income was up more than threefold, but gross margin narrowed 170 basis points to 40.2% and OpEx spending was up 14% in dollars, deleveraging 860 b.p. as a percent of sales. Distributor sales were down 12% for the year, but were 24% higher in Q4, as ... Log in to view full article.
