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Hawkins Inc. (HWKN-1.76%) has submitted its 10-Q filing for the quarterly period ended December 29, 2024.
The filing includes financial statements for the quarter, showing an increase in sales to $226.2 million from $208.5 million in the same quarter the previous year. The increase is attributed to acquisitions and increased sales volumes in the Water Treatment segment.
Cost of sales for the quarter was $177.8 million, representing 78.6% of sales, compared to 79.7% in the same quarter of the previous year.
The company reported a gross profit of $48.4 million for the quarter, compared to $42.2 million in the previous year, with the increase attributed to higher sales and acquisitions.
Selling, general, and administrative expenses increased to $27.4 million from $23.8 million, primarily due to costs associated with acquired businesses.
Net income for the quarter was $15.0 million, compared to $14.9 million in the previous year.
Cash provided by operating activities was $80.3 million, while cash used in investing and financing activities was $72.8 million and $6.3 million, respectively.
Hawkins had cash and cash equivalents of $8.3 million as of December 29, 2024.
The filing also details several acquisitions completed in fiscal 2024 and 2025, including Water Guard, Wofford, and Intercoastal, contributing to the increased sales in the Water Treatment segment.
Hawkins continues its share repurchase program, with 831,946 shares remaining available for repurchase under the current authorization.
The company maintains compliance with its credit agreement covenants and anticipates sufficient liquidity to meet ongoing operational needs.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Hawkins Inc. quarterly 10-Q report dated January 29, 2025. To report an error, please email earnings@qz.com.