Kewaunee Scienti - KEQU STOCK NEWS

Kewaunee Scientific Corporation (NASDAQ: KEQU) announced the launch of its new healthcare brand, EVERHUTCH, on July 8, 2021. Developed by a skilled team and tested by healthcare professionals, EVERHUTCH focuses on enhancing workspace organization for healthcare practitioners. Leveraging Kewaunee's manufacturing capabilities, the product lineup includes specialized carts and tables designed for modern healthcare and clinical lab environments. With a dedicated national distribution network, the company aims to capitalize on the projected growth in the healthcare furniture market.

Kewaunee Scientific Corporation (NASDAQ: KEQU) reported fiscal year 2021 results, revealing a net loss of $3,672,000, or ($1.33) per diluted share, an improvement from a loss of $4,687,000 in the previous year.

Fourth quarter sales increased by 13% to $38,707,000, while pre-tax losses narrowed to $950,000. The international segment saw significant growth, with sales up 72%. However, rising raw material costs impacted profitability. The company's backlog reached $114.5 million, its strongest position since 2018.

Kewaunee Scientific Corporation (NASDAQ: KEQU) reported its third-quarter fiscal results for 2021, with sales at $33.34 million, a 2.6% decrease from $34.23 million a year earlier. However, net earnings rose to $81,000 ($0.03 per diluted share), up from a loss of $1.92 million in Q3 2020. The order backlog reached $103 million, indicating strong future demand. Notably, the International segment saw a 9.9% sales increase, while the Domestic segment suffered a 6.1% decline. The company acknowledged concerns over rising raw material costs affecting margins moving forward.

Kewaunee Scientific Corporation (NASDAQ: KEQU) announced that its Kewaunee International Group received the 'Customer Centricity' award from the Confederation of Indian Industry (CII) on December 15, 2020. This recognition underscores the company's commitment to customer service, especially during the challenges posed by the COVID-19 pandemic. Executives highlighted the award's significance, reflecting Kewaunee's dedication to delivering exceptional customer experiences. The assessment for this award was based on a structured evaluation by CII judges, aligning with excellence frameworks.

Kewaunee Scientific Corporation (NASDAQ: KEQU) reported second quarter fiscal 2021 results, with sales of $39 million, a 1.8% decrease year-over-year. The company experienced a pre-tax loss of $362,000 compared to $158,000 last year, while net losses improved to $180,000 or ($0.07) per diluted share, a significant reduction from the previous year’s loss of $2.18 million. Domestic segment sales fell 8.9% to $28.77 million, but the international segment saw a 25.7% increase to $10.23 million. Corporate expenses rose 24.1%, impacting overall profitability.

Kewaunee Scientific Corporation (Nasdaq: KEQU) will release its second-quarter fiscal year 2021 financial results on December 9, 2020, after trading hours. This announcement follows a decision to stop issuing financial results via press releases, with all future updates available on their investor relations website. Founded in 1906, Kewaunee Scientific specializes in designing and manufacturing laboratory and healthcare furniture, with multiple facilities in the U.S. and India.

Kewaunee Scientific Corporation (NASDAQ: KEQU) reported a 7.4% decline in first quarter sales, totaling $36.4 million, compared to $39.3 million last year. The company faced a pre-tax loss of $587,000, reversing from last year's earnings of $665,000. Net earnings fell 227% to a loss of $598,000, or ($0.22) per diluted share. While domestic sales grew 2.6% to $30.1 million, international sales plummeted 36.7%. Corporate expenses rose 27.6% due to increased pension expenses. Cash reserves decreased slightly to $4.8 million, with working capital at $27.8 million.

Kewaunee Scientific Corporation (Nasdaq: KEQU) will release its first quarter fiscal year 2021 financial results on September 8, 2020, after market close. The results will be available on the company’s website at www.kewaunee.com. Founded in 1906, Kewaunee specializes in laboratory, healthcare, and technical furniture products, with manufacturing facilities in North Carolina and India. The company emphasizes forward-looking statements regarding its financial condition and operational results, acknowledging risks and uncertainties that could impact actual outcomes.

Kewaunee Scientific Corporation (NASDAQ: KEQU) has announced the establishment of a Technical Service Organization in Saudi Arabia to enhance its operations in the Middle East and Africa. This initiative aims to strengthen Kewaunee's presence and relationships with regional customers, leveraging local talent to support its growing market. The company's leadership anticipates that this move will facilitate tailored solutions and foster long-term partnerships, contributing to sustained growth in these emerging markets.