Fiscal 2024 Second Quarter Financial Results
Total revenues, net were $13.8 million for the fiscal 2024 second quarter, compared with $14.2 million for the prior-year quarter. The decrease mainly was due to competition from two newly opened Asian supermarkets near the Company's store in San Gabriel as well as reduction in online purchases as a result of customers returning to pre-pandemic shopping patterns and habits. Additionally, the Company generated slightly lower sales from perishable goods, which include meat, seafood, vegetables and fruit. Perishables revenues were $7.5 million for the fiscal 2024 second quarter, versus $7.9 million last year. Revenues for non-perishable goods, which include grocery, liquor, cigarettes, lottery, newspaper, reusable bags, non-food, and health products, of $6.3 million, were similar to the same period last year.
Total cost of revenues, which includes rental expense, depreciation, the direct costs of purchased merchandise, shrinkage costs, store supplies, and inbound shipping costs, decreased 4.0 percent to $10.6 million for the fiscal 2024 second quarter, compared with $11.1 million for the same period last year.
Gross profit for the fiscal 2024 second quarter was $3.1 million, up slightly from the same period last year. Gross margin improved 90 basis points to 22.7 percent, up from 21.8 percent for the fiscal 2023 second quarter.
Operating income was $254,000 for the fiscal 2024 second quarter, compared with $649,000 for the fiscal 2023 second quarter. The reduction was primarily due to higher selling expenses related to an increase in payroll and utility costs.
Net income attributable to Maison Solutions Inc. was $91,000, or $0.01 per diluted share, for the second quarter of fiscal 2024, versus $529,000, or $0.03 per diluted share, for the prior-year period.
At October 31, 2023, the Company had cash and equivalents of $8.6 million, up from $2.6 million at April 30, 2023. Maison Solutions completed an initial public offering on October 10, 2023, generating gross proceeds of $10.0 million. Net cash provided by operating activities was $476,000 for the six months ended October 31, 2023, compared with net cash used in operating activities of $1.1 million for the same period last year.
2024 財年第二季度財務業績
2024財年第二季度的淨總收入爲1,380萬美元，而去年同期爲1,420萬美元。下降的主要原因是來自該公司位於聖加布裏埃爾的商店附近的兩家新開業的亞洲超市的競爭，以及由於顧客恢復到疫情前的購物模式和習慣，在線購買量減少。此外，該公司易腐商品的銷售額略有下降，其中包括肉類、海鮮、蔬菜和水果。2024財年第二季度的Perishables收入爲750萬美元，而去年同期爲790萬美元。不易腐壞的商品（包括雜貨、酒類、香菸、彩票、報紙、可重複使用的袋子、非食品和保健品）的收入爲630萬美元，與去年同期相似。
包括租金支出、折舊、購買商品的直接成本、收縮成本、門店供應和入境運輸成本在內的總收入成本在2024財年第二季度下降了4.0％，至1,060萬美元，而去年同期爲1,110萬美元。
2024財年第二季度的毛利爲310萬美元，比去年同期略有增長。毛利率從2023財年第二季度的21.8％提高了90個點子至22.7％。
2024財年第二季度的營業收入爲25.4萬美元，而2023財年第二季度的營業收入爲64.9萬美元。減少的主要原因是與工資和公用事業成本增加相關的銷售費用增加。
2024財年第二季度歸屬於Maison Solutions Inc.的淨收益爲91,000美元，攤薄每股收益爲0.01美元，而去年同期爲529,000美元，攤薄每股收益爲0.03美元。
截至2023年10月31日，該公司的現金及等價物爲860萬美元，高於2023年4月30日的260萬美元。Maison Solutions於2023年10月10日完成了首次公開募股，總收益爲1,000萬美元。截至2023年10月31日的六個月中，經營活動提供的淨現金爲47.6萬美元，而去年同期用於經營活動的淨現金爲110萬美元。
