Steel Connect, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended January 31, 2023
March 15, 2023 at 05:06 pm EDT
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Steel Connect, Inc. reported earnings results for the second quarter and six months ended January 31, 2023. For the second quarter, the company reported sales was USD 50.78 million compared to USD 54.32 million a year ago. Net loss was USD 0.526 million compared to USD 22.98 million a year ago. Basic loss per share from continuing operations was USD 0.1867 compared to USD 0.28 a year ago. Diluted loss per share from continuing operations was USD 0.1867 compared to USD 0.28 a year ago. Basic loss per share was USD 0.1867 compared to USD 3.6402 a year ago. Diluted loss per share was USD 0.1867 compared to USD 3.6402 a year ago.
For the six months, sales was USD 102.14 million compared to USD 98.68 million a year ago. Net income was USD 4.43 million compared to net loss of USD 42.47 million a year ago. Basic earnings per share from continuing operations was USD 0.56 compared to basic loss per share from continuing operations of USD 0.56 a year ago. Diluted earnings per share from continuing operations was USD 0.56 compared to diluted loss per share from continuing operations of USD 0.56 a year ago. Basic earnings per share was USD 0.56 compared to basic loss per share of USD 6.8137 a year ago. Diluted earnings per share was USD 0.56 compared to diluted loss per share of USD 6.8137 a year ago.
Steel Connect, Inc. is a holding company which operates through its subsidiary, ModusLink Corporation. The Company is an end-to-end global supply chain solutions and e-commerce provider serving clients in markets such as consumer electronics, communications, computing, medical devices, software and retail. The Company designs and executes various elements in its clients global supply chains. The Company delivers its solutions through a combination of industry expertise, service solutions, integrated operations, business processes, a wide global footprint and technology. It produces and licenses an entitlement management solution powered by its enterprise-class Poetic software, which offers a complete solution for activation, provisioning, entitlement subscription, and data collection from physical goods (connected products) and digital products. It has an integrated network of facilities located in various countries, including numerous sites throughout North America, Europe and Asia.
STEEL CONNECT, INC. 
