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Kewaunee Scientific Corporation (KEQU-1.58%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing an increase in net sales to $67,167,000 from $46,778,000 in the same quarter the previous year. The increase is attributed to higher manufacturing volumes and the acquisition of Nu Aire.
Cost of products sold for the quarter was $48,788,000, resulting in a gross profit of $18,379,000, compared to $12,029,000 in the previous year. The improvement in gross profit is due to enhanced manufacturing productivity and effective cost-containment measures.
Operating expenses increased to $16,129,000 from $8,223,000, primarily due to the acquisition of Nu Aire and higher consulting and professional fees.
Interest expense was $1,137,000, up from $411,000 in the previous year, due to changes in the levels of bank and other borrowings.
Net earnings for the quarter were $1,354,000, down from $2,521,000 in the previous year. The decrease is attributed to higher operating expenses.
Cash provided by operating activities was $5,376,000, while cash used in investing and financing activities was $30,385,000 and $11,749,000, respectively.
Kewaunee had a working capital of $58,441,000 as of January 31, 2025. The company continues to rely on its revolving credit facility for liquidity.
The filing also details the acquisition of Nu Aire, Inc., a manufacturer of laboratory equipment, which was completed on November 1, 2024.
Kewaunee does not anticipate cash dividend payments to common stockholders in the near future.
The company continues to focus on expanding its capabilities and market presence through strategic acquisitions and partnerships.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Kewaunee Scientific Corporation quarterly 10-Q report dated March 14, 2025. To report an error, please email earnings@qz.com.