- Acme United Corp ACU reported second-quarter FY21 net revenue growth of 2% year-on-year to $44.8 million, missing the analyst consensus of $48.5 million.
- Sales in the U.S. segment decreased 4% Y/Y due to the delayed shipments.
- Net sales in Canada increased 68%, while it improved 26% in Europe.
- The gross margin was 36% for the quarter.
- Selling, general and administrative expenses rose 5.9% to $12.4 million.
- The operating margin was 8.4%, and the operating income for the quarter declined 13.5% to $3.8 million.
- Cash and equivalents amounted to $3.2 million as of June 30, 2021.
- EPS of $0.94 beat the analyst consensus of $0.93.
- "Our performance in the second quarter was impacted by interruptions in our operations as we installed a new warehouse management system at our main U.S. distribution facility in North Carolina," said CEO Walter C. Johnsen.
- Price action: ACU shares are trading higher by 0.26% at $42.71 on Thursday's last check.
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