Financial Performance - Fiscal 2024 net sales decreased to 30,281,000 in fiscal 2023, a decline of 19.3%[2] - Consolidated operating income from continuing operations dropped to 1,531,000 in the previous year[6] - Loss per share from continuing operations was 0.15 per share in fiscal 2023[7] - Consolidated net income for fiscal 2024 was 267,000 in fiscal 2023[7] Segment Performance - Agricultural Products segment net sales fell by 14,663,000 due to lower commodity prices and excess inventory[2][4] - Modular Buildings segment net sales increased by 9,836,000, driven by a 124% increase in research sales[4] - The Agricultural Products segment backlog decreased to approximately 4,364,000 year-over-year[8] - Modular Buildings segment backlog also declined to approximately 6,170,000 in the previous year[8] Future Outlook - The company anticipates improved profitability and cash flow in fiscal 2025 due to solid demand and reduced overhead expenses[10] - The company reported a historical low in current debt levels, positioning it for future market improvements[9]
Art’s-Way(ARTW) - 2024 Q4 - Annual Results