Business
LAKESIDE HOLDING PROVIDES FIRST QUARTER OF FISCAL YEAR 2025 RESULTS
ITASCA, Ill., Nov. 15, 2024 /PRNewswire/ -- Lakeside Holding Limited ("Lakeside" or the "Company") (Nasdaq: LSH), a U.S.-based integrated cross-border supply
About this update from Lakeside Holding Limited
[{"type":"text","content":"ITASCA, Ill., Nov. 15, 2024 /PRNewswire/ -- Lakeside Holding Limited (\"Lakeside\" or the \"Company\") (Nasdaq: LSH), a U.S.-based integrated cross-border supply chain solution provider with a strategic focus on the Asian market operating under the brand American Bear Logistics (\"ABL\"), today announced financial results for the first quarter of fiscal 2025, ended September 30, 2024.\n\nQ1 2025 Financial Results:\nTotal revenues decreased by $66,922, or 1.6%, from $4,148,476 for the three months ended September 30, 2023, to $4,081,554 for the three months ended September 30, 2024. The decrease was primarily driven by a decrease in revenues from our cross-border airfreight solutions, partially offset by an increase in revenues from our cross-border ocean freight solutions.Revenue from our cross-border airfreight solutions segment decreased by $0.2 million or 8.2%, from $2.4 million in the three months ended September 30, 2023, to $2.2 million in the three months ended September 30, 2024. The decrease was primarily due to a decrease in the volume of cross-border air freight processed, from approximately 7,816 tons for the three months ended September 30, 2023, to approximately 7,273 tons for the three months ended September 30, 2024.Revenue from our cross-border ocean freight solutions segment increased by $0.1 million, or 7.8%, from $1.7 million in the three months ended September 30, 2023, to $1.8 million in the three months ended September 30, 2024. This growth was primarily due to an increase in the volume of cross-border ocean freights processed and forwarded, rising from 1,290 TEU in the three months ended September 30, 2023, to 1,430 TEU in the three months ended September 30, 2024.Revenues by Customer Geographic\nFor the three months ended September 30,\n2024\n2023\nRevenues\nAmount\n% of total Revenues\nAmount\n% of total Revenues\nAmount Increase (Decrease)\nPercentage Increase (Decrease)\nAsia-based customers\n$\n2,809,636\n68.8\n%\n$\n1,694,223\n40.8\n%\n$\n1,115,413\n65.8\n%\nU.S.- based customers\n1,271,918\n31.2\n%\n2,454,253\n59.2\n%\n(1,182,335)\n(48.2)\n%\nTotal revenues\n$\n4,081,554\n100.0\n%\n$\n4,148,476\n100.0\n%\n$\n(66,922)\n(1.6)\n%\nRevenues from Asia-based customers increased by $1.1 million, or 65.8%, from $1.7 million in the three months ended September 30, 2023, to $2.8 million in the three months e...