Dogness Reports Financial Results for Fiscal Year Ended June 30, 2024 [Yahoo! Finance]
Dogness (International) Corporation - Class A (DOGZ)
US:NASDAQ Investor Relations:
ir.dognesspet.com/phoenix.zhtml?c=254679&p=irol-faq
Company Research
Source: Yahoo! Finance
PLANO, Texas Oct. 16, 2024 June 30, 2024 Silong Chen , Chief Executive Officer of Dogness, commented: "We continue to face challenges due to intense competition in the domestic market and the ongoing trade dispute between China and the United States , which are impacting and will likely continue impacting our domestic and export sales in the near future. In fiscal 2024, Dogness experienced intensified competition and a complex macro environment, which posed challenges to the Company resulting in a 15.6% revenue decline. Our gross profit for fiscal 2024 decreased to approximately $3.1 million , reflecting a 14.7% decline, primarily due to lower sales volumes in intelligent pet products. However, we effectively reduced our selling expenses by approximately $1.3 million and general and administrative expenses by $2.0 million , enhancing our operational efficiency. As a result, our overall gross profit margin improved slightly to 21.0%, up from 20.8% in fiscal 2023." "Looking ahead,
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