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 Limited (NASDAQ: HIHO) is an international OEM-focused manufacturer that supplies parts and products to blue chip equipment manufacturers based primarily in Germany. The company operates administrative offices in Hong Kong and maintains manufacturing facilities in Yangon, Myanmar and Shenzhen, China, giving it a multi-country production footprint that often features in its public updates and news flow.
The Highway Holdings news stream typically centers on developments that affect its OEM manufacturing business and strategic direction. Investors and observers can find regular coverage of quarterly and annual financial results, where the company discusses net sales, gross profit, margins, and the impact of customer demand patterns and macroeconomic conditions on its operations. Management commentary in these releases often highlights the health of key OEM relationships, changes in motor OEM programs, and the return or ramp-up of business from specific customers, including gaming-related and proprietary CO₂ cleaning machine orders.
News about Highway Holdings also includes strategic initiatives and corporate actions. The company has reported on efforts to diversify beyond its traditional OEM model, evaluations of mergers and acquisitions, and a letter of intent to acquire a majority stake in Regent-Feinbau Adermann GmbH, a German precision sheet metal and welded assembly specialist. Other announcements cover board and governance changes, such as the appointment of new directors and a new independent auditor, as well as dividend declarations.
Operational updates, including statements on the resilience of the Myanmar factory following an earthquake and commentary on the impact of U.S. tariffs, provide additional context on how Highway Holdings manages its international footprint. This news page allows readers to follow the company’s financial performance, strategic evaluations, facility updates and governance changes through its own press releases and related disclosures.
Highway Holdings Limited (Nasdaq:HIHO) reported its fiscal third quarter results for 2023, showing net sales of $2.6 million, down from $3.0 million a year ago, largely due to ongoing COVID-19 impacts. Net income decreased to $52,000 ($0.01 per share), compared to $240,000 ($0.06 per share) last year. For the first nine months, net sales totaled $8.5 million, a decline from $9.3 million, with net income at $831,000 ($0.20 per share) versus $812,000 ($0.19 per share) previously. Gross margin improved to 33.7% over the nine months. Cash stood at $6.3 million, or $1.54 per share, and the current ratio was 3.6:1, exceeding liabilities by $2.8 million.
Highway Holdings Limited (Nasdaq: HIHO) has declared a new cash dividend of $0.05 per common share, payable on January 5, 2023, to shareholders of record by December 15, 2022. This latest dividend follows two previous payments totaling $0.20 in 2022. Chairman Roland Kohl stated that this declaration reflects the company's financial strength and commitment to enhancing shareholder value.
Highway Holdings (Nasdaq: HIHO) has secured a new order from a Fortune 500 customer for a brushless motor series, with initial deliveries set for December 2022. This order marks a significant expansion of their relationship, as the company has previously supplied motors for nearly 20 years to the customer's German division. The new brushless DC outer runner motor will be provided to the customer's USA division, indicating a diversification of product offerings and a potential expansion in the motor business.
Highway Holdings Limited (Nasdaq: HIHO) announced its fiscal year 2023 second quarter results, reporting net sales of $3 million, down from $3.4 million year-over-year, attributed to disruptions from China's Zero-COVID policy. Net income rose to $396,000 ($0.10 per diluted share), up from $242,000 ($0.06 per diluted share) in Q2 2022. For the first half of FY2023, sales totaled $6 million, down from $6.4 million, but net income increased to $783,000 ($0.19 per diluted share) from $575,000 ($0.14 per diluted share). The company's cash reserves exceed $6 million, with strong equity of $9.7 million.
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