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BrilliA Announces Six-month Earnings of $0.06 per Share and a 17% Revenue Increase for the Six Months Ended September 30, 2024
BrilliA Announces Six-month Earnings of $0.06 per Share and a 17% Revenue Increase for the Six Months Ended September 30,
About this update from Brillia Inc
[{"type":"text","content":"SINGAPORE, March 21, 2025 (GLOBE NEWSWIRE) -- BrilliA Inc (NYSE American: BRIA) (“BRIA” or “the Company”), a leading one-stop service cross-border solution provider for ladies' intimate apparel brands, today announced that, for the six-month ended September 30, 2024, the Company had revenue of $27,423,693, a 17% improvement compared with revenue of $23,483,537 for the same period in 2023. The Company reported revenue of $27.4 million, representing a 17% increase compared to $23.5 million in the same period of 2023. Net income for the six months ended September 30, 2024, was $1.13 million, or $0.06 per share, reflecting a negligible change from $1.13 million, or $0.06 per share, in the prior-year period. Revenue increased by 17%, driven primarily by a 38% rise in export sales to North America, contributing approximately $6.5 million. This was partially offset by a 56% decline in export sales to Europe, amounting to approximately $3.1 million. The Company’s gross profit margin improved to 15.4% from 14.8% in the prior year period. Operating expenses increased by approximately 27%, or $0.6 million, primarily due to a 56% rise in employee benefit expenses ($0.56 million) and a 24% increase in other expenses ($0.20 million), which included travel, entertainment, license fees, and taxes. As a result of the above-mentioned factors, the Company’s net income for the six months ended September 30, 2024, showed a slight increase to $1,132,224, compared with $1,131,819 in the prior-year period. Cash and cash equivalents as at September 30, 2024, were about $5.9 million compared with approximately $6.4 million as at March 31, 2024. Net cash used in operating activities for the six months ended September 30, 2024, was about $0.20 million, compared with about $0.68 million in the same period a year earlier. Total non-current liabilities at September 30, 2024, were about $1.71 million, compared with zero in the corresponding period in 2023. “We are quite excited by our financial performance in the first six months ended September 30 2024, especially our 38% growth in sales to North America,” said BrilliA chief executive Kendrew Hartanto. “We were also successful in achieving an improvement in our gross profit margin, which, along with our 17% improvement in revenue, contributed to another profitable period for our Company. “Going forward, we ex...