Press Release: FGI INDUSTRIES ANNOUNCES THIRD QUARTER 2024 RESULTS

Dow Jones11-12
                             September 30,                       September 30, 
                  ----------------------------------  ---------------------------------- 
                        2024              2023              2024              2023 
                  ----------------  ----------------  ----------------  ---------------- 
                        USD               USD               USD               USD 
(Loss) income 
 before income 
 taxes            $      (430,711)  $        516,008   $   (1,268,111)  $        525,189 
Adjustments: 
 Non-recurring 
  IPO-related 
  stock-based 
  compensation              59,719            59,719           179,157           179,156 
 IPO and 
  arbitration 
  legal fee                     --                --                --            50,000 
 Business 
  expansion 
  expense                   61,770            61,770           185,310           185,312 
                  ----------------  ----------------  ----------------  ---------------- 
Adjusted (loss) 
 income before 
 income taxes            (309,222)           637,497         (903,644)           939,657 
Less: income 
 taxes at 18% 
 rate                     (55,660)           114,749         (162,656)           169,138 
Less: net loss 
 attributable to 
 non-controlling 
 shareholders            (148,111)          (66,043)         (460,761)          (66,043) 
                  ----------------  ----------------  ----------------  ---------------- 
Adjusted net 
 (loss) income    $      (105,451)  $        588,791  $      (280,227)  $        836,562 
                  ================  ================  ================  ================

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SOURCE FGI Industries Ltd.

/CONTACT: Jae Chung, VP Investor Relations, 973-515-7190, investorrelations@fgi-industries.com

(END) Dow Jones Newswires

November 11, 2024 16:30 ET (21:30 GMT)

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