Hydromer, Inc. Reports Preliminary Unaudited Financial Results for Third Quarter 2024
Hydromer (OTC: HYDI) reported preliminary unaudited Q3 2024 financial results. Revenue decreased 21% to $788,000 compared to $993,000 in Q3 2023. Cost of goods sold decreased 28% to $134,000, while gross profit declined 19% to $654,000. Operating expenses reduced by 24% to $583,000. Despite revenue challenges due to raw material management issues and reduced legacy program orders, net income increased 67% to $72,000 from $43,000 in the same period last year.
Hydromer (OTC: HYDI) ha riportato risultati finanziari preliminari non verificati per il terzo trimestre del 2024. I ricavi sono diminuiti del 21% a 788.000 dollari rispetto ai 993.000 dollari del terzo trimestre del 2023. I costi delle merci vendute sono calati del 28% a 134.000 dollari, mentre il profitto lordo ha registrato un decremento del 19% a 654.000 dollari. Le spese operative sono state ridotte del 24% a 583.000 dollari. Nonostante le difficoltà nei ricavi dovute a problemi nella gestione delle materie prime e alla diminuzione degli ordini dei programmi legacy, il reddito netto è aumentato del 67% a 72.000 dollari rispetto ai 43.000 dollari dello stesso periodo dell'anno scorso.
Hydromer (OTC: HYDI) informó los resultados financieros preliminares no auditados para el tercer trimestre de 2024. Los ingresos disminuyeron un 21% a $788,000 en comparación con $993,000 en el tercer trimestre de 2023. El costo de bienes vendidos disminuyó un 28% a $134,000, mientras que el beneficio bruto cayó un 19% a $654,000. Los gastos operativos se redujeron en un 24% a $583,000. A pesar de los desafíos en los ingresos debido a problemas en la gestión de materias primas y la reducción de pedidos de programas heredados, el ingreso neto aumentó un 67% a $72,000 desde $43,000 en el mismo período del año pasado.
Hydromer (OTC: HYDI)는 2024년 3분기 예비 미감사 재무 결과를 보고했습니다. 수익은 21% 감소하여 $788,000에 달하는 반면, 2023년 3분기에는 $993,000에 달했습니다. 판매된 상품의 비용은 28% 감소하여 $134,000이었고, 총 이익은 19% 감소하여 $654,000이었습니다. 운영 비용은 24% 감소하여 $583,000이었습니다. 원자재 관리 문제와 기존 프로그램 주문 감소로 인한 수익 문제에도 불구하고 순이익은 작년 같은 기간의 $43,000에서 $72,000으로 67% 증가했습니다.
Hydromer (OTC: HYDI) a annoncé des résultats financiers préliminaires non audités pour le troisième trimestre 2024. Les revenus ont diminué de 21 % pour atteindre 788 000 $, contre 993 000 $ au troisième trimestre 2023. Le coût des marchandises vendues a diminué de 28 % pour s'établir à 134 000 $, tandis que le bénéfice brut a chuté de 19 % à 654 000 $. Les dépenses d'exploitation ont été réduites de 24 % à 583 000 $. Malgré les défis de revenus en raison de problèmes de gestion des matières premières et de la réduction des commandes de programmes hérités, le revenu net a augmenté de 67 % pour atteindre 72 000 $, contre 43 000 $ au même période l'année dernière.
Hydromer (OTC: HYDI) veröffentlichte vorläufige, ungeprüfte Finanzzahlen für das dritte Quartal 2024. Der Umsatz sank um 21 % auf 788.000 $ im Vergleich zu 993.000 $ im dritten Quartal 2023. Die Kosten der verkauften Waren verringerten sich um 28 % auf 134.000 $, während der Bruttogewinn um 19 % auf 654.000 $ fiel. Die Betriebskosten wurden um 24 % auf 583.000 $ gesenkt. Trotz der Herausforderungen bei den Einnahmen aufgrund von Problemen im Rohstoffmanagement und einer Verringerung der Bestellungen für bestehende Programme stieg der Nettoeinkommen um 67 % auf 72.000 $ von 43.000 $ im gleichen Zeitraum des Vorjahres.
- Net income increased 67% to $72,000
- Operating expenses reduced by 24% to $583,000
- Cost of goods sold decreased 28% to $134,000
- Revenue declined 21% to $788,000
- Gross profit decreased 19% to $654,000
- Reduced orders from legacy programs
- Raw material management issues affecting performance
CONCORD, N.C., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Hydromer, Inc. (OTC: HYDI) (the “Company”), a leader in hydrophilic, thromboresistant, and antimicrobial coating technologies for medical devices for over 44 years, is pleased to announce certain preliminary, unaudited management-prepared financial results for the quarter ended September 30, 2024. These results are based on the most current information available to management, are unaudited, and are subject to the completion of the Company’s 2024 year-end financial reporting processes, reviews, audit, and potential adjustments, each of which could result in changes to the numbers reported.
Financial Highlights
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- Cost of Goods Sold
Cost of Goods Sold were
- Gross Profit
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- Operating Expenses
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- Net Income
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At Hydromer, we are dedicated to advancing innovation and excellence, as reflected in our financial commitment to strategic growth and operational efficiency for Q3 2024. For the three months ended September 30, 2024, the company's financial performance improved compared to Q3 2023, despite a revenue decline of
About Hydromer
Hydromer, Inc. is an ISO 9001:2015 global business-to-business (B2B) surface modification and coating solutions provider offering polymer R&D and manufacturing services capabilities for a wide variety of applications. We are domiciled in Concord, NC. Our customers are located across the United States, Europe and Asia-Pacific. Our facilities are U.S. Food and Drug Administration (FDA), Good Manufacturing Practice (GMP), International Organization for Standardization (ISO) 13485, and International Organization for Standardization (ISO) 9001 compliant. For over four decades, the Company has developed value-added solutions to serve businesses in domestic and international markets in a wide range of industries. We manage numerous global B2B services such as coating services, research and development, analytical testing, technology transfer, and dedicated machinery building, installation, and support. We have successfully developed numerous proprietary formulations and hold many patents worldwide, including those with anti-microbial, anti-fog, anti-frost, condensation-controlling, hydrophilic, and thromboresistant coating applications.
Contact:
Hydromer Inc.
Info@hydromer.com
Forward-Looking Statements
This press release contains forward-looking statements that are based on Hydromer’s current expectations, estimates, forecasts, and projections. These statements are not guarantees of future performance and involve risks, uncertainties, assumptions, and other factors that are difficult to predict and could cause actual results to differ materially from those expressed or anticipated. We caution readers not to place undue reliance on these forward-looking statements. Hydromer undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
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