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FGI INDUSTRIES ANNOUNCES FIRST QUARTER 2025 RESULTS
FGI Industries Ltd. (Nasdaq: FGI) ("FGI" or the "Company"), a leading global supplier of kitchen and bath products, today announced results for the first quarter 2025.
About this update from Fgi Industries Ltd.
[{"type":"text","content":"EAST HANOVER, N.J., May 13, 2025 /PRNewswire/ -- FGI Industries Ltd. (Nasdaq: FGI) ("FGI" or the "Company"), a leading global supplier of kitchen and bath products, today announced results for the first quarter 2025.","length":236,"tagName":"p"},{"type":"image","alt":"FGI Industries, Ltd. (PRNewsfoto/FGI Industries Ltd.)","displaySize":"","headline":null,"caption":"FGI Industries, Ltd. (PRNewsfoto/FGI Industries Ltd.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":400,"url":"https://media.zenfs.com/en/prnewswire.com/522ac54c4c1e452eb4d04fc65e7fccc4"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/imAkCe8YzeWAEyNZpKny8w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTcwNTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/522ac54c4c1e452eb4d04fc65e7fccc4","width":400,"height":400}},"href":"https://mma.prnewswire.com/media/1774923/FGI_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"FIRST QUARTER 2025 HIGHLIGHTS(As compared to the first quarter of 2024)","length":72,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Total revenue of $33.2 million, +8.0% y/y","length":41,"tagName":"p"}]},{"val":[{"type":"text","content":"Gross profit of $8.9 million, +5.8% y/y","length":39,"tagName":"p"}]},{"val":[{"type":"text","content":"Gross margin of 26.8%, -60 bps y/y","length":34,"tagName":"p"}]},{"val":[{"type":"text","content":"Operating loss of $1.3 million and net loss attributable to shareholders of $0.6 million","length":88,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted operating loss of $1.3 million","length":39,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted net loss of $1.1 million","length":33,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":274,"olType":false},{"type":"text","content":"MANAGEMENT COMMENTARY","length":21,"tagName":"p"},{"type":"text","content":"Dave Bruce, President and CEO of FGI, stated, "FGI reported total revenue of $33.2 million in the quarter, representing a year-over-year increase of 8.0%. Gross profit was $8.9 million, an increase of 5.8% compared to the prior year. The gross margin was 26.8%, a decline of 60 basis points compared to the first quarter of 2024 due, in part, to China related tariffs and higher freight costs. The industry outlook is uncertain due to tar...