The net loss narrowed to $381,000 from a loss of $989,000 in the final fiscal quarter ended Apr. 30, but revenues tumbled 24% to $47,059,000 from $61,942,000, with last year’s number including about $10 million in orders accelerated to avoid tariffs. Gross margin soared 600 basis points to 46.9%, while SG&A was reduced by 15% in dollars, but still deleveraged on the falling sales. Inventory ended the year at $91.9 million, down 12% year-over-year. Cash and equivalents decreased 8% to $21.4 million, with no debt.

For the full year, red ink deepened ... Log in to view full article.