Financial Performance - Total revenue for Q1 FY25 decreased by 20.8% to 5.3millioncomparedto6.6 million in Q1 FY24[5] - Gross profit fell by 24.6% to 1.4million,resultinginagrossmarginof26.10.1) million, a decline from operating income of 0.4millioninQ1FY24[5]−NetincomeforQ1FY25was(0.0) million, compared to 0.4millioninQ1FY24,withdilutedearningspershareat(0.00) versus 0.04[5]−NetlossforthethreemonthsendedSeptember30,2024,was(25,000) compared to a net income of 439,000inthesameperiodof2023[13]−Cashusedinoperatingactivitieswas(32,000), a decrease from (207,000)intheprioryear[13]−Cashattheendoftheperiodwas5,246,000, down from 6,408,000year−over−year[13]IndustryOutlook−Thecinemaindustryisexperiencingaresurgence,withmajorplayersreportingincreasedattendanceandsolidgains[2]−Thecompanyanticipatesthatthestrongboxofficemomentumwillcontinuethroughtheholidayseasonandinto2025[3]GrowthInitiatives−Internalgrowthinitiativesarebeingadvancedtodriverevenuegrowthandmarginexpansion,focusingonrecurringrevenuestreams[4]−Thecompanyiscommittedtosupportingtheindustry′sgrowthwithinnovativehigh−qualitysolutions,particularlyinimmersivesoundsystemsandlaserprojectionupgrades[3]BalanceSheetHighlights−Thecompanyheldcashof5.2 million as of September 30, 2024[5] - Total assets increased to 10.7millionasofSeptember30,2024,comparedto10.5 million at the end of June 2024[11] - Provision for credit losses increased to 11,000from1,000 year-over-year[13] - Accounts receivable improved by 10,000comparedtoadecreaseof(1,138,000) in the prior year[13] - Inventories increased by 421,000comparedtoadecreaseof(413,000) in the same period last year[13] - Non-cash investing activities included right-of-use assets from lease modification totaling $(988,000)[13]
