Koss profits, revenue up despite weak U.S. sales

Company sees growth in Asia

Koss headphones
Koss makes high-fidelity headphones.

Milwaukee-based headphone maker Koss Corp. today reported profits and revenue were up in the most recent quarter on stronger sales in Scandinavia, the Czech Republic and Asia, but sales in the United States were down.

Koss headphones
Koss makes high-fidelity headphones.

The company’s net income in the most recent quarter was $386,632, up from $165,586 the previous year. The company also reported diluted earnings per share of 5 cents, compared to 2 cents per share in the previous quarter.

The company had revenue of $7.2 million for the quarter, up 2.7 percent. For the six months ending Dec. 31, the company’s revenue was up 2 percent to $12.8 million.

Chairman and chief executive officer Michael J. Koss said a new partnership with an Asian distributor is leading to stronger sales, but there has been weakness in Ukraine and Russia, which have historically been strong markets.

The company attributed the drop in U.S. sales to the loss of sales to a drug store chain, lower online sales and lower sales to OEM customers.

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Arthur Thomas
Arthur covers banking and finance and the economy at BizTimes while also leading special projects as an associate editor. He also spent five years covering manufacturing at BizTimes. He previously was managing editor at The Waukesha Freeman. He is a graduate of Carroll University and did graduate coursework at Marquette. A native of southeastern Wisconsin, he is also a nationally certified gymnastics judge and enjoys golf on the weekends.

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