An announcement from Baylin Tech ( (TSE:BYL) ) is now available.
Baylin Technologies Inc. reported strong financial results for fiscal 2024, with a 14.4% increase in revenue to $83.6 million and a 21.1% rise in gross profit to $34.4 million. The company’s improved performance was driven by increased sales in the Embedded Antenna and Wireless Infrastructure business lines, resulting in a higher gross margin of 41.1%. Despite a net loss of $8.5 million, Baylin’s adjusted EBITDA saw a significant improvement, reaching $5.4 million from a negative $0.2 million the previous year. The company also experienced a positive outcome from its discontinued operations, with a net income of $0.6 million due to the sale of its Mobile and Network business line.
More about Baylin Tech
Baylin Technologies Inc. is a diversified global wireless technology company focused on the research, design, development, manufacture, and sale of passive and active radio frequency and satellite communications products, along with providing supporting services.
YTD Price Performance: -35.00%
Average Trading Volume: 22,774
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$39.37M
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