Business
ICZOOM Group Inc. Released 2023 Interim Financial Results
-The company sustained positive net income for the six months ended December 31, 2022 - HONG KONG, July 20, 2023 /PRNewswire/ -- ICZOOM Group Inc. (Nasdaq:
About this update from Iczoom Group Inc.
[{"type":"text","content":"-The company sustained positive net income for the six months ended December 31, 2022 -\nHONG KONG, July 20, 2023 /PRNewswire/ -- ICZOOM Group Inc. (Nasdaq: IZM) (the \"Company\" or \"ICZOOM\"), a B2B electronic component products e-commerce platform, with its financial year ends on June 30 annually, has released its interim unaudited consolidated financial statements for the six months ended December 31, 2022. A full version of the report is available at the Company's website at http://ir.iczoomex.com/index.html or the SEC's website at www.sec.gov.\nMr. Lei Xia, the CEO and the Chairman of the Board of Directors of ICZOOM, commented, \"Despite a challenging environment, we've managed to sustain a stable position for the first half of the fiscal year 2023. Our total revenue reached $120.2 million for the six months ended December 31, 2022, decreased by 14.6% from $140.5 million for the same period of last fiscal year, primarily due to the business operation disruption from time to time in PRC due to restrictive measures adopted by local governments to contain the outbreak of Omicron from June to December 2022. Though revenues dipped, we proudly maintained a positive net income. Our strategic initiatives aiming at enhancing efficiency will continue to ensure our business's longevity. We're dedicated to innovation and delivering superior products and services, enabling us to navigate market flux effectively. Ongoing investments in research and development, expansion of our product portfolio, and strengthening key partnerships remain our priority. Looking ahead, we're optimistic and committed to creating values to our shareholders.\"\nFirst Half of the Fiscal Year 2023 Financial and Operational Highlights\nTotal revenues were $120.2 million, compared to $140.5 million for the same period of last fiscal year.Net income was $0.9 million, compared to $1.1 million for the same period of last fiscal year.Total customers were 653, compared to 770 for the same period of last fiscal year.First Half of the Fiscal Year 2023 Financial Results\nRevenues\nTotal revenue was $120.2 million for the six months ended December 31, 2022, decreased by 14.5% from $140.5 million for the same period of last fiscal year. The decrease was largely attributable to the business operation disruption from time to time in China due to restrictive measures adopted...