Record Revenue Growth
Revenue grew by 18% year over year, reaching a record $35.3 million, driven primarily by volume and new product introductions.
Gross Margin Improvement
Gross margins improved to 26.1%, supported by strategic CapEx investments and efficiency gains in procurement and production.
Operational Efficiency Gains
Labor efficiency improved significantly, with overtime hours declining nearly 70%. In-house trimming processes are running 35% ahead of plan.
Strong Cash Flow and Balance Sheet
The company reported robust cash flow from operations of $6 million, with cash and equivalents rising to $12 million, and a reduction in total debt to $4.6 million.
Successful New Product Launches
New distribution wins include placements at Albertsons, BJ's, Costco, Publix, Lidl, Amazon Fresh, and Sheetz, with successful new product introductions.
Increase in Net Income
Net income increased by 123% to $1.2 million, or three cents per diluted share, from $600,000 or one cent per diluted share in the previous year.