Steel Connect, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended April 30, 2023
June 12, 2023 at 04:32 pm EDT
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Steel Connect, Inc. reported earnings results for the third quarter and nine months ended April 30, 2023. For the third quarter, the company reported sales was USD 46.14 million compared to USD 51.55 million a year ago. Net income was USD 3.03 million compared to USD 30.2 million a year ago. Basic earnings per share from continuing operations was USD 0.3734 compared to basic loss per share from continuing operations of USD 1.5867 a year ago. Diluted earnings per share from continuing operations was USD 0.3734 compared to diluted loss per share from continuing operations of USD 1.5867 a year ago. Basic earnings per share was USD 0.3734 compared to USD 4.6669 a year ago. Diluted earnings per share was USD 0.3734 compared to USD 4.6669 a year ago.
For the nine months, sales was USD 148.28 million compared to USD 150.22 million a year ago. Net income was USD 7.46 million compared to net loss of USD 12.27 million a year ago. Basic earnings per share from continuing operations was USD 0.9334 compared to basic loss per share from continuing operations of USD 2.1468 a year ago. Diluted earnings per share from continuing operations was USD 0.84 compared to diluted loss per share from continuing operations of USD 2.1468 a year ago. Basic earnings per share was USD 0.9334 compared to basic loss per share of USD 2.1468 a year ago. Diluted earnings per share was USD 0.84 compared to diluted loss per share of USD 2.1468 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. 
