Welcome to our dedicated page for Highway Hldgs news (Ticker: HIHO), a resource for investors and traders seeking the latest updates and insights on Highway Hldgs stock.
Highway Holdings Ltd (HIHO) is a global manufacturer of precision metal, plastic, and electronic components for OEM partners and industrial markets. This dedicated news hub provides investors and industry professionals with centralized access to the company's official announcements and operational developments.
Our continuously updated collection features earnings reports, product innovation announcements, and strategic partnership updates. Users can track HIHO's manufacturing advancements in metal stamping, electrical components, and automation solutions across global markets.
The resource simplifies monitoring of key performance indicators through quarterly financial disclosures, leadership updates, and production capacity expansions. All content is sourced directly from company filings and verified channels to ensure reliability.
Bookmark this page for efficient tracking of HIHO's engineering developments, European market activities, and quality assurance initiatives. Stay informed about the company's role in supplying critical components to electronics, appliances, and industrial equipment sectors.
Highway Holdings (Nasdaq: HIHO) has received an initial order of 100,000 units for a new model of brushless electric motor from one of its largest strategic customers. The company designed and manufactured this motor specifically for the customer, acting as an Original Design Manufacturer (ODM) rather than an Original Equipment Manufacturer (OEM).
The development of this motor began nearly five years ago but faced significant delays due to COVID-19. Highway Holdings already manufactures synchron and stepping motors for another major customer, and this new brushless electric motor is expected to be a significant addition to their production lines. The company anticipates becoming a leading supplier of this motor type to the customer, with the increased demand expected to boost production volume and contribute significantly to revenue growth in the near future.
Highway Holdings (Nasdaq: HIHO) reported a 39.3% increase in net sales to $1.88 million for Q1 FY2025, compared to $1.35 million in Q1 FY2024. The company achieved a net gain of $98,000, or $0.02 per diluted share, reversing a net loss of $338,000 in the previous year. Gross profit increased to $661,000 (35% margin), up from $377,000 (28% margin) in Q1 FY2024. The company maintained a strong financial position with $6.0 million in cash and cash equivalents, exceeding combined liabilities by $1.65 million. CEO Roland Kohl expressed cautious optimism, citing increased orders from customers and potential new business lines contributing to future growth.
Highway Holdings (Nasdaq: HIHO) reported financial results for Q4 and FY 2024 ended March 31, 2024. Key points:
- Q4 net sales: $1.4 million (vs $1.7 million in Q4 2023)
- Q4 net loss: $1.18 million or $0.26 per diluted share
- FY 2024 net sales: $6.3 million (vs $10.2 million in FY 2023)
- FY 2024 net loss: $959,000 or $0.22 per diluted share
The company faced challenges due to COVID-19 impacts, resulting in decreased demand and inventory imbalances. They took provision charges totaling $2.45 million. Despite difficulties, HIHO maintains a strong financial position with $6.6 million in total equity and no debt.
Highway Holdings (NASDAQ: HIHO) announced the restatement of its unaudited financial statements for the quarters ending December 31, 2023, due to a revenue recognition error caused by a change in a customer's inventory procedures. The adjustment includes removing $1.875 million in net sales and $1.921 million in cost of sales, identified during the preparation of the annual report for the fiscal year ending March 31, 2024.
Despite the adjustments, net income has increased: for Q3 of fiscal 2024, it rose from $302,000 ($0.07 per diluted share) to $348,000 ($0.08 per diluted share), and for the first nine months, it increased from $177,000 ($0.04 per diluted share) to $223,000 ($0.05 per diluted share).
The announcement reflects the company's dedication to maintaining financial accuracy and integrity.
FAQ
What is the current stock price of Highway Hldgs (HIHO)?
What is the market cap of Highway Hldgs (HIHO)?
