AXIL Brands Q1 revenue falls 11% on product transition
AXIL Brands Q1 revenue falls 11% on product transition
Overview
US hearing protection and personal care firm's fiscal Q1 revenue fell 11% yr/yr due to product transition and fewer big-box orders
Fiscal Q1 net income and EPS rose yr/yr despite lower revenue
Gross margin rose due to one-time customs duty refund
Outlook
Company expects XCOR II launch orders to be reflected in Q2 revenue and beyond
Company plans global relaunch of Reviv3 brand with new strategic partners
Result Drivers
PRODUCT TRANSITION - Co said revenue decline was due to planned transition from XCOR to XCOR II and fewer big-box orders
CUSTOMS DUTY REFUND - Gross margin benefited from a one-time customs duty refund
Company press release: ID:nGNXKBHSb
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue |
| $6.10 mln |
|
Q1 EPS |
| $0.05 |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)