PS International Group's sales rose 14.4%, but gross profit fell 38.8% and its loss widened to $10.1 million from $0.4 million. The larger loss and shrinking gross profit outweigh sales growth.
The sales increase did not translate into more gross profit. Gross profit fell, and the loss grew sharply from the prior period. That points to weaker results overall despite higher sales.
Follow PS International Group Ltd. (PSIG) free. When we publish a story about it, you get the plain-English explanation as an alert.
Get alerts for PSIG