Koss Corporation (KOSS) has risen to 5.32% in the aftermarket. However, the last trading session concluded at $19.18 with an incline of 24.95%.
Fourth quarter results 2021
On 19th August 2021, KOSS announced the results of the fourth quarter of 2021. Sales in the fourth quarter totaled $5,420,471. The net income for the first three months was $331,943, up from $158,238 in the fourth quarter of the previous year. Moreover, the sales grew 6.7 percent from $18,311,830 last year to $19,546,008 this year.
On the Koss Classics label, the company sells a wide range of high-fidelity headphones, wireless Bluetooth speakers, computer headsets, telecommunications headsets, active noise cancelling headphones, wireless headphones, and compact disc recordings of the American Symphony Orchestra.
Third Quarter Results 2021
KOSS announced third quarter results 2021 on 12th May 2021. Sales for the third quarter were $3,987,452, down 16.7% from $4,789,441 a year ago. The net loss for the third quarter was $474,168, compared to a net loss of $97,373 in the previous quarter. Furthermore, sales fell 1.7 percent to $14,125,537 in the nine months ending March 31, 2021. For the nine months ended March 31, 2021, diluted and basic income per common share was $0.02, compared to a loss per common share of $0.08 for the same period a year earlier.
According to the company, the gross margins are rising with the shift in sales. Domestic mass merchants usually have lower gross margins than other distribution channels. The quarter’s net loss comprised a number of unexpected non-recurring factors that pushed up administrative costs.
The Koss Corporation is a headphone design and manufacturing firm based in the United States. Since 1958, the firm has been headquartered in Milwaukee, Wisconsin, where it created the first high-fidelity stereophones. The firm is still designing and producing headphones and audio equipment. Koss headphones were rebranded as RadioShack headphones under licence and sold in RadioShack locations in addition to being marketed under their own brand. The noise isolation earbuds Koss Plug and Koss Spark Plug are two of their most popular items.
Their ability to accept the high-end Etymotic ear tip (known as the Koss Hybrid) as well as the popular Koss Porta Pro has contributed to their success. Since 1989, Koss has offered a limited lifetime guarantee on all headphones sold in North America, which covers normal usage by the first user or purchaser.