Burnham Holdings, Inc. Announces Third Quarter 2024 Financial Results
BURNHAM HLDGS INC A (BURCA)
NASDAQ:AMEX Investor Relations:
burnhamholdings.com
Company Research
Source: PR Newswire
LANCASTER, Pa., Oct. 24, 2024 /PRNewswire/ -- Burnham Holdings, Inc. (OTC-Pink: BURCA) ("BHI", the "Company", "we" or "our") today reported its consolidated financial results for the third quarter of 2024. Where noted, prior periods presented have been restated for a voluntary change in accounting principle related to our last-in, first-out (LIFO) inventory valuation as disclosed in our 2023 Annual Report. Net sales were $64.7 million for the third quarter of 2024, an increase of $5.0 million, or 8.3%, versus the third quarter of 2023. Year to date net sales were $176.1 million compared to $171.4 for the first nine months of 2023.Gross profit margin was 19.3% and 20.5% for the third quarters of 2024 and 2023, respectively. Year to date gross profit margins were 21.6% for 2024 versus 22.0% for 2023. Product mix and temporary inefficiencies from unplanned downtime adversely impacted third quarter 2024 gross profit margins.Selling, general, and administrative expenses (SG&A) were higher
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