AG真人官方

ANAHEIM, Calif.--(BUSINESS WIRE)-- EACO Corporation (OTC Pink:EACO) today reported financial results for its fiscal year ended August 31, 2024.

Net sales, net income and earnings per share were as follows for the fiscal year ended August 31, 2024 (dollars in thousands, except per share information):

* Derived from the Company鈥檚 audited financial statements included in its Form 10-K for the year ended August 31, 2023 filed with the U.S. Securities and Exchange Commission on November 22, 2023.

The Company had 427 sales employees at August 31, 2024, an increase of 33 or 8% from the prior year quarter. The Company鈥檚 sales force is divided into sales focus teams (SFT鈥檚). The Company had 111 SFT鈥檚 as of August 31, 2024, an increase of 4 from the prior year quarter. Management anticipates continued growth in both our headcount and SFT鈥檚 in fiscal year 2025. The Company believes it continues to gain market share through its local presence business model.

The net income for the fiscal year ended 2024 included extraordinary items of $7.6 million in accrual expense related to an employee class action settlement agreement and an impairment loss of $3.9 million related to the termination of a lease.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the 鈥渟afe harbor鈥� provisions of the Private Securities Litigation Reform Act of 1955, as amended. These forward-looking statements include, without limitation, statements related to our headcount expansion, growth in market share, and other statement that is not historical information. These forward-looking statements are based on our current expectations and are inherently subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. The potential risks and uncertainties include, but are not limited to, our ability to hire and retain additional qualified employees, our ability to open additional sales offices, and to gain market acceptance for our products, the pricing and availability of our products, the success of our sales and marketing programs, and the impact of products offered by our competitors from time to time. In addition to these factors and any other factors mentioned elsewhere in this news release, the reader should refer as well to the factors, uncertainties or risks identified in EACO鈥檚 most recent Form 10-K and all subsequent Form 10-Q reports filed by us with the SEC. The forward-looking statements included in this release speak only as of the date hereof, and EACO does not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.

* Derived from the Company鈥檚 audited financial statements included in its Form 10-K for the year ended August 31, 2023 filed with the U.S. Securities and Exchange Commission on November 22, 2023.

* Derived from the Company鈥檚 audited financial statements included in its Form 10-K for the year ended August 31, 2023 filed with the U.S. Securities and Exchange Commission on November 22, 2023.

* Derived from the Company鈥檚 audited financial statements included in its Form 10-K for the year ended August 31, 2023 filed with the U.S. Securities and Exchange Commission on November 22, 2023.

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Michael Narikawa

EACO Corporation

(714) 876-2490

Source: EACO Corporation