Yunhong CTI Ltd. Reports Second Quarter 2023 Revenue of $4.1 Million and Net Loss of $0.1 Million; Year to Date Revenue of $9.1 Million and Net Income of $0.2 Million

ACCESSWIRE2023-08-03

Select Financial Highlights (unaudited) - Second Quarter 2023 and 2022 Net sales were $4.1 million in the second quarter 2023, compared with $4.4 million in the second quarter 2022 While helium ...

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Reports Second Quarter 2023 Revenue of $4.1 Million and Net Loss of $0.1 Million; Year to Date Revenue of $9.1 Million and Net Income of $0.2 Million","media":"ACCESSWIRE","content":"<div>\n<p>Select Financial Highlights (unaudited) - Second Quarter 2023 and 2022\n\nNet sales were $4.1 million in the second quarter 2023, compared with $4.4 million in the second quarter 2022\n  \nWhile helium ...</p>\n\n<a href=\"https://finance.yahoo.com/news/yunhong-cti-ltd-reports-second-203000056.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Yunhong CTI Ltd. Reports Second Quarter 2023 Revenue of $4.1 Million and Net Loss of $0.1 Million; Year to Date Revenue of $9.1 Million and Net Income of $0.2 Million</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nYunhong CTI Ltd. Reports Second Quarter 2023 Revenue of $4.1 Million and Net Loss of $0.1 Million; Year to Date Revenue of $9.1 Million and Net Income of $0.2 Million\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-08-03 04:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/yunhong-cti-ltd-reports-second-203000056.html><strong>ACCESSWIRE</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Select Financial Highlights (unaudited) - Second Quarter 2023 and 2022\n\nNet sales were $4.1 million in the second quarter 2023, compared with $4.4 million in the second quarter 2022\n  \nWhile helium ...</p>\n\n<a href=\"https://finance.yahoo.com/news/yunhong-cti-ltd-reports-second-203000056.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://finance.yahoo.com/news/yunhong-cti-ltd-reports-second-203000056.html","article_id":"2356152272","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/LR00ekM.p8NES2sUi2XiAQ--~B/aD00MDA7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/accesswire.ca/7fff55902f008eec9a85eaa9c0869fe8"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2356152272","pubTimestamp":1691008200,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Select Financial Highlights  - Second Quarter 2023 and 2022. Net sales were $4.1 million in the second quarter 2023, compared with $4.4 million in the second quarter 2022. While helium pricing continued to moderate after the significant spike in 2022, it negatively impacted foil-balloon sales in Q2 2023. Foil balloon sales improved by $0.3 million sequentially. Net loss for the second quarter 2023 improved to $0.1 million, compared to net loss of less than $0.4 million in the second quarter 2022. Adjusted EBITDA  was $0.2 million, compared to $0.0 million in the second quarter of 2022. Please refer to the table accompanying this press release for a reconciliation of the Company's GAAP and non-GAAP results.Net sales were $9.1 million in the first six months of 2023, compared with $10.2 million in the same period for 2022. Adjusted EBITDA  was $0.9 million in the first half of 2023, compared to $0.3 million in the first half of 2022. Please refer to the table accompanying this press rele","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"云红CTI有限公司报告2023年第二季度收入410万美元，亏损10万美元；今年迄今的收入为910万美元，新万亿美元的收入为20万美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CTIB":0.9},"content_text":"Select Financial Highlights (unaudited) - Second Quarter 2023 and 2022\n\nNet sales were $4.1 million in the second quarter 2023, compared with $4.4 million in the second quarter 2022\n  \nWhile helium pricing continued to moderate after the significant spike in 2022, it negatively impacted foil-balloon sales in Q2 2023\nFoil balloon sales improved by $0.3 million sequentially\n\nNet loss for the second quarter 2023 improved to $0.1 million, compared to net loss of less than $0.4 million in the second quarter 2022\nAdjusted EBITDA (a non-GAAP measure) was $0.2 million, compared to $0.0 million in the second quarter of 2022. Please refer to the table accompanying this press release for a reconciliation of the Company's GAAP and non-GAAP results.\n\nSelect Financial Highlights (unaudited) - Six Months ended June 30, 2023 and 2022\n\nNet sales were $9.1 million in the first six months of 2023, compared with $10.2 million in the same period for 2022\n  \nThe spike in helium pricing happened during the first half of 2022, impacting a portion of the first half 2022 and all of the first half 2023\nFilm product revenues, which can vary greatly from quarter to quarter, were $0.7 million higher during the first half of 2022 vs. the same period of 2023\nGross margins were 18% in the first half of each year, as lower revenues for the first half of 2023 were partially offset by improved efficiencies including automation in the manufacturing process\n\nNet income was $0.2 million in the first half of 2023, compared to net loss of $0.4 million in the first half of 2022\nAdjusted EBITDA (a non-GAAP measure) was $0.9 million in the first half of 2023, compared to $0.3 million in the first half of 2022. Please refer to the table accompanying this press release for a reconciliation of the Company's GAAP and non-GAAP results.\n\nBusiness Highlights First Six-Months 2023\n\nSales of balloons rebounded slightly during the second quarter, offsetting some of the first quarter weakness in commercial films\nSales from commercial films improved during the second quarter\nOrders for balloon-inspired gift items have been growing, a trend we expect to continue\nThe reduction in helium pricing is expected to generate increased balloon sales during remainder of 2023 vs. 2022\nContinued investment in robotic technology to enhance operational efficiencies - second manufacturing line install expected to be completed imminently with a third line installation expected by end of Q1 2024\nOngoing prototype development of Yunhong Biotech's compostable material solutions\n\nLAKE BARRINGTON, IL / ACCESSWIRE / August 2, 2023 / Yunhong CTI Ltd. (Nasdaq:CTIB) (\"Yunhong CTI\" or the \"Company\"), a leading manufacturer of custom film packaging products, novelty balloons, and candy and balloon gift solutions, today announced its financial results for the second quarter and six months ended June 30, 2023. Management will host a conference call to discuss these results and other matters on Thursday, August 3, 2023, at 9:00 a.m. Central Time / 10:00 a.m. Eastern Time.\nManagement Commentary\n\"Upcoming holiday order indications have been robust, and balloon sales rebounded in the second quarter to beat the comparable quarter of 2022, but continued to be negatively impacted by elevated helium prices,\" said Frank Cesario, Chief Executive Officer, Yunhong CTI. \"While our commercial films sales disappointed in the first quarter as this product category has historically experienced significant fluctuation, we benefited from much improved results in the second quarter which were slightly higher than the second quarter of 2022. Overall traction for balloon-inspired gift items has been growing, though notably Valentine's Day shipments for this year were completed in December 2022, while last year the shipments went into January 2022. This makes comparability a little more difficult, but overall order volumes have been growing and we seek to continue that trend.\"\nCommenting further, Cesario stated, \"Our corporate rebranding continues, as we continue down the development path of adding degradable and compostable solutions to our future offerings into the retail channel. Additionally, we asked our shareholders to approve changing our company name from Yunhong CTI Ltd. to Yunhong Green CTI Ltd, and have reserved the ticker symbol ‘YHGJ' to reflect this new identity.\"\n2023 Second Quarter Results (unaudited)\nFor the three-month periods ended June 30, 2023 and 2022, net sales by product category were as follows:\n\n\n\n\n \n \nThree Months Ended\n \n \n \n \n \n \n \n\n\n \n \nJune 30, 2023\n \n \nJune 30, 2022\n \n \n \n \n \n \n \n\n\n \n \n$\n \n \n \n \n \n$\n \n \n \n \n \n \n \n \n \n \n\n\n \n \n(000)\n \n \n% of\n \n \n(000)\n \n \n% of\n \n \n \n \n \n \n \n\n\n\n\nProduct Category\n\n \nNet Sales\n \n \n \n \n \nNet Sales\n \n \n \n \n \nVariance\n \n \n% change\n \n\n\n\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\nFoil Balloons\n\n \n$\n2,938\n \n \n \n72\n%\n \n$\n2,674\n \n \n \n61\n%\n \n$\n264\n \n \n \n10\n%\n\n\n\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\nFilm Products\n\n \n \n589\n \n \n \n15\n%\n \n \n535\n \n \n \n12\n%\n \n \n54\n \n \n \n10\n%\n\n\n\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\nOther\n\n \n$\n532\n \n \n \n13\n%\n \n$\n1,209\n \n \n \n27\n%\n \n$\n(677\n)\n \n \n(56\n%)\n\n\n\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\nTotal\n\n \n$\n4,059\n \n \n \n100\n%\n \n$\n4,418\n \n \n \n100\n%\n \n$\n(359\n)\n \n \n(8\n%)\n\n\n\n\n\n\n\n\n \n \nSix Months Ended\n \n \n \n \n \n \n \n\n\n \n \nJune 30, 2023\n \n \nJune 30, 2022\n \n \n \n \n \n \n \n\n\n \n \n$\n \n \n \n \n \n$\n \n \n \n \n \n \n \n \n \n \n\n\n \n \n(000)\n \n \n% of\n \n \n(000)\n \n \n% of\n \n \n \n \n \n \n \n\n\n\n\nProduct Category\n\n \nNet Sales\n \n \n \n \n \nNet Sales\n \n \n \n \n \nVariance\n \n \n% change\n \n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\nFoil Balloons\n\n \n$\n6,412\n \n \n \n70\n%\n \n$\n6,506\n \n \n \n64\n%\n \n$\n(94\n)\n \n \n(1\n%)\n\n\n\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\nFilm Products\n\n \n \n678\n \n \n \n7\n%\n \n \n1,363\n \n \n \n13\n%\n \n \n(685\n)\n \n \n(50\n%)\n\n\n\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\nOther\n\n \n$\n2,020\n \n \n \n23\n%\n \n$\n2,346\n \n \n \n23\n%\n \n$\n(326\n)\n \n \n(14\n%)\n\n\n\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\nTotal\n\n \n$\n9,110\n \n \n \n100\n%\n \n$\n10,215\n \n \n \n100\n%\n \n$\n(1,105\n)\n \n \n(11\n%)\n\n\n\n\nNon-GAAP Results\nTo provide additional information regarding the Company's results, we have disclosed in this press release a Non-GAAP measure that combines EBITDA (Earnings Before Interest Taxes Depreciation and Amortization) as well as results excluding deconsolidation charges and certain non-recurring charges and benefits. The Company defines EBITDA as earnings (loss) before net interest, other expense, taxes, depreciation and amortization expense. The Company has included EBITDA as a supplemental financial measure in this press release because it is a key measure used by management and the board of directors to understand and evaluate the core operating performance of the Company, to prepare budgets and operating plans, and because management believes such measure provides useful information in understanding and evaluating the Company's operating results. However, the use of EBITDA as an analytic tool has its limitations and you should not consider this measure in isolation or as a substitute for analysis of the Company's financial results as reported under GAAP. A reconciliation to the closest GAAP statement of this non-GAAP measure is contained in the accompanying table. Similarly, management and the board of directors look at the results of the entity going forward, without the impact of deconsolidation costs related to the disposal of subsidiaries and related non-cash charges, which can be significant. Again, this pro forma result is not a replacement for the Company's financial results as reported under GAAP. It simply provides another viewpoint that may otherwise be obscured by a comprehensive presentation. A reconciliation between this pro forma result and our financial results as reported under GAAP is also presented.\n2023 Q2 Summary Results (Non-GAAP; unaudited)\n\n\n\n\n \n \n \n \n \n \n \n \nSix Months ended June 30,\n \n\n\n \n \n2023 Q2\n \n \n2022 Q2\n \n \n2023\n \n \n2022\n \n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\n      Net Income\n     \n \n \n(149,000\n)\n \n \n(399,000\n)\n \n \n247,000\n \n \n \n(420,000\n)\n\n\n\n\n      Addback: Interest\n     \n \n \n155,000\n \n \n \n109,000\n \n \n \n297,000\n \n \n \n205,000\n \n\n\n\n\n      Addback: Taxes\n     \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\n      Addback Lender fees\n     \n \n \n78,000\n \n \n \n137,000\n \n \n \n159,000\n \n \n \n274,000\n \n\n\n\n\n      Addback: Equity comp\n     \n \n \n4,000\n \n \n \n61,000\n \n \n \n11,000\n \n \n \n92,000\n \n\n\n\n\n      Addback: Depr/Amort\n     \n \n \n92,000\n \n \n \n98,000\n \n \n \n194,000\n \n \n \n196,000\n \n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\n      Adj EBITDA\n     \n \n \n180,000\n \n \n \n6,000\n \n \n \n908,000\n \n \n \n347,000\n \n\n\n\n\n2023 Second Quarter Results Conference Call / Webcast Information\nYunhong CTI will host its conference call on Thursday, August 3, at 9:00 a.m. Central Time / 10:00 a.m. Eastern Time.\nThe live webcast will be available at https://www.webcaster4.com/Webcast/Page/2863/46944. For those planning to participate in the call, please dial +1-888-506-0062 for domestic calls, or +1-973-528-0011 for international calls. The Conference ID # is 184864.\nA replay of the conference call will be available for two weeks following the call at +1- 877-481-4010 (for domestic calls) or +1-919-882-2331 (for international calls), replay conference ID #46944.\nAbout Yunhong CTI Ltd.\nYunhong CTI Ltd. is one of the leading manufacturers and marketers of foil balloons and produces laminated and printed films for commercial uses. Yunhong CTI also distributes balloon-inspired and other gift items and markets its products throughout the United States and in several other countries. For more information about our business, visit our corporate website at www.ctiindustries.com.\nForward-Looking Statements\nStatements made in this release that are not historical facts are \"forward-looking\" statements (within the meaning of Section 21E of the Securities Exchange Act of 1934) that involve risks and uncertainties and are subject to change at any time. These \"forward-looking\" statements may include, but are not limited to, statements containing words such as \"may,\" \"should,\" \"could,\" \"would,\" \"expect,\" \"plan,\" \"goal,\" \"anticipate,\" \"believe,\" \"estimate,\" \"predict,\" \"potential,\" \"continue,\" or similar expressions. We have based these forward-looking statements on our current expectations and projections about future results. Although we believe that our opinions and expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements, and our actual results may differ substantially from statements made herein. We cannot anticipate the duration of increased tariffs between the United States and other countries, particularly China. We do not know whether we will be successful in passing such additional costs through to customers. The COVID-19 pandemic has had a negative impact on our operations, and we do not yet know the depth or duration of that disruption. The ultimate impact of inflation and supply chain pressures, as well as potential material limitations related to responses to Russia's invasion of Ukraine, including helium availability and cost, are unknown at this time and might have a material impact on our business and financial performance. More information on factors that could affect CTI's business and financial results are included in its public filings made with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.\nInvestor Relations Contact:\nCompany Contact:\ninfo@ctiindustries.com + 1-847-382-1000\nInvestor Relations Contact:\nTraDigital IRKevin McGrath+1-646-418-7002kevin@tradigitalir.com\n\n\n\n\nYunhong CTI LTD Consolidated Condensed Balance Sheets\n\n\n \n \nJune 30, 2023\n \n \nDecember 31, 2022\n \n\n\n \n \n \n \n \n \n \n\n\n\n\nCash and equivalents\n\n \n \n100,000\n \n \n \n146,000\n \n\n\n\n\nAccounts receivable\n\n \n \n2,959,000\n \n \n \n1,618,000\n \n\n\n\n\nInventories\n\n \n \n7,639,000\n \n \n \n8,325,000\n \n\n\n\n\nOther current assets\n\n \n \n436,000\n \n \n \n389,000\n \n\n\n\n\nTotal current assets\n\n \n \n11,134,000\n \n \n \n10,478,000\n \n\n\n \n \n \n \n \n \n \n \n \n\n\n\n\nProperty, Plant and Equipment\n\n \n \n21,350,000\n \n \n \n21,256,000\n \n\n\n\n\nLess: accumulated depreciation\n\n \n \n(20,485,000\n)\n \n \n(20,334,000\n)\n\n\n\n\nProperty, Plant and Equipment, net\n\n \n \n865,000\n \n \n \n922,000\n \n\n\n \n \n \n \n \n \n \n \n \n\n\n\n\nNoncurrent assets\n\n \n \n3,628,000\n \n \n \n3,882,000\n \n\n\n \n \n \n \n \n \n \n \n \n\n\n\n\nTotal assets\n\n \n \n15,627,000\n \n \n \n15,282,000\n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n\n\nTrade payables\n\n \n \n982,000\n \n \n \n1,313,000\n \n\n\n\n\nLine of credit\n\n \n \n4,288,000\n \n \n \n2,878,000\n \n\n\n\n\nNotes payable - current\n\n \n \n521,000\n \n \n \n289,000\n \n\n\n\n\nNotes payable subordinated - current\n\n \n \n1,305,000\n \n \n \n-\n \n\n\n\n\nOther current liabilities\n\n \n \n1,533,000\n \n \n \n2,998,000\n \n\n\n\n\nCurrent liabilities\n\n \n \n8,629,000\n \n \n \n7,478,000\n \n\n\n \n \n \n \n \n \n \n \n \n\n\n\n\nNotes payable - noncurrent\n\n \n \n-\n \n \n \n427,000\n \n\n\n\n\nNotes payable - officer; subordinated\n\n \n \n-\n \n \n \n1,267,000\n \n\n\n\n\nOperating lease liabilities\n\n \n \n3,109,000\n \n \n \n3,364,000\n \n\n\n \n \n \n \n \n \n \n \n \n\n\n\n\nNoncurrent liabilities\n\n \n \n3,109,000\n \n \n \n5,058,000\n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n\n\nTotal liabilities\n\n \n \n11,738,000\n \n \n \n12,536,000\n \n\n\n \n \n \n \n \n \n \n \n \n\n\n\n\nShareholders equity\n\n \n \n3,889,000\n \n \n \n2,746,000\n \n\n\n \n \n \n \n \n \n \n \n \n\n\n\n\nTotal liabilities and equity\n\n \n \n15,627,000\n \n \n \n15,282,000\n \n\n\n\n\n\n\n\n\nYunhong CTI LTD Summarized Condensed Consolidated Statement of Operations (unaudited)\n \n \n \n \n\n\n \n \nThree months ended June 30,\n \n \nSix months ended June 30,\n \n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n \n \n2023\n \n \n2022\n \n \n2023\n \n \n2022\n \n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\nNet sales\n\n \n \n4,059,000\n \n \n \n4,418,000\n \n \n \n9,110,000\n \n \n \n10,215,000\n \n\n\n\n\nCost of sales\n\n \n \n3,545,000\n \n \n \n3,615,000\n \n \n \n7,469,000\n \n \n \n8,373,000\n \n\n\n\n\nGross profit\n\n \n \n514,000\n \n \n \n803,000\n \n \n \n1,641,000\n \n \n \n1,842,000\n \n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\nOperating expenses\n\n \n \n804,000\n \n \n \n1,109,000\n \n \n \n1,919,000\n \n \n \n2,167,000\n \n\n\n\n\nGain/(Loss) from operations\n\n \n \n(290,000\n)\n \n \n(306,000\n)\n \n \n(278,000\n)\n \n \n(325,000\n)\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\nInterest expense\n\n \n \n155,000\n \n \n \n109,000\n \n \n \n297,000\n \n \n \n205,000\n \n\n\n\n\nOther (income)/expense\n\n \n \n(296,000\n)\n \n \n(16,000\n)\n \n \n(822,000\n)\n \n \n(110,000\n)\n\n\n\n\nNet income / (loss) before tax\n\n \n \n(149,000\n)\n \n \n(399,000\n)\n \n \n247,000\n \n \n \n(420,000\n)\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\nIncome tax\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\nNet income / (loss) - continuing ops\n\n \n \n(149,000\n)\n \n \n(399,000\n)\n \n \n247,000\n \n \n \n(420,000\n)\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\nPreferred stock deemed dividends\n\n \n \n-\n \n \n \n(202,000\n)\n \n \n(11,000\n)\n \n \n(404,000\n)\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\nNet income/(loss) attributable to\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\nYunhong CTI Shareholders\n\n \n \n(149,000\n)\n \n \n(601,000\n)\n \n \n236,000\n \n \n \n(824,000\n)\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\nFully diluted earnings per share\n\n \n$\n(0.01\n)\n \n$\n(0.10\n)\n \n$\n0.01\n \n \n$\n(0.14\n)\n\n\n\n\nSOURCE: Yunhong CTI Ltd.\n\nView source version on accesswire.com: \n\nhttps://www.accesswire.com/771809/Yunhong-CTI-Ltd-Reports-Second-Quarter-2023-Revenue-of-41-Million-and-Net-Loss-of-01-Million-Year-to-Date-Revenue-of-91-Million-and-Net-Income-of-02-Million","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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