CompX(CIX)2025-03-05 21:18Financial Performance - Net sales for Q4 2024 were $38.4 million, a decrease of 11.1% from $43.2 million in Q4 2023[1][12] - Operating income for Q4 2024 was $4.9 million, down 33.8% from $7.4 million in Q4 2023[1][12] - Net income for Q4 2024 was $4.5 million, or $0.37 per share, compared to $6.7 million, or $0.54 per share, in Q4 2023, representing a decline of 32.8%[1][12] - For the full year 2024, net sales totaled $145.9 million, down 9.5% from $161.3 million in 2023[2][12] - Full year operating income decreased to $17.0 million, a decline of 33.1% from $25.4 million in 2023[2][12] - Full year net income was $16.6 million, or $1.35 per share, compared to $22.6 million, or $1.84 per share, in 2023, reflecting a decrease of 26.5%[2][12] Sales and Market Factors - The decline in Q4 2024 net sales was primarily due to lower Security Products sales to a government customer, partially offset by increased Marine Components sales[3][4] Company Operations - The company operates from three locations in the U.S. and employs approximately 510 people[5] Future Risks - Future risks include supply and demand fluctuations, raw material cost changes, and competition from low-cost manufacturing sources[8][10] - The company faces uncertainties related to new product development and potential litigation affecting operations[8][10]