Net Sales

–26% (from $12,333K to $9,157K)

Lower consolidated sales were a primary driver as both domestic and international channels underperformed. The dramatic 39% drop in Outside U.S. revenue combined with a 15% decline in Domestic revenue points to weakened OEM relationships and reduced demand across key markets compared to Q4 2023. " " " "

Gross Profit

–25% (from $7,098K to $5,323K)

The decline in Gross Profit largely reflects lower sales volumes causing decreased absorption of fixed manufacturing overhead and potential pressure from higher input costs. This change follows earlier trends where reduced sales volumes in previous periods led to stressed margins. " "

Operating Income

–26% (from $3,944K to $2,930K)

Operating Income dropped due to the combined impact of lower Net Sales and Gross Profit. The reduced revenues made it challenging to cover fixed costs and operating expenses, echoing issues noted in previous periods where cost increases and unfavorable product mix squeezed margins. " "

Net Income

–32% (from $4,286K to $2,902K)

The more pronounced decline in Net Income indicates that beyond the operating challenges, there were additional pressures such as higher expense ratios or tax impacts that further eroded profitability relative to the previous period’s results. " " This continued a trend where lower sales compounded with rising per-unit costs led to disproportionately larger declines in bottom‐line earnings.

Diluted EPS

–27% (from $1.18 to $0.857)

The fall in Diluted EPS was driven principally by lower Net Income combined with changes in the share count. While previous periods saw some offsetting share repurchases or dilution from stock options, the current period’s reduction in profitability outweighed any benefit from a lower share count. " "

Domestic Revenue

–15% (from $6.73M to $5.74M)

A decline in domestic revenue can be attributed to weaker domestic OEM sales and subdued performance in key product lines such as Filshie devices, mirroring trends from earlier periods where supply chain issues and lower direct sales contributed to reduced domestic performance. " "

Outside U.S. Revenue

–39% (from $5.59M to $3.42M)

The steep drop in OUS revenue is reflective of significant decreases in shipments and sales performance in international markets. This includes lower sales to key foreign distributors and less favorable market conditions relative to the previous period, highlighting a reversal of improvements seen earlier that were partly buoyed by beneficial foreign currency impacts. " "