Revenue Performance:
CGA's revenue decreased by 27.23% YoY to $45.26 million, yet increased by 85.05% QoQ, indicating a possible market recovery trend.
Gross Profit and Margins:
Gross profit stood at $7.38 million with a gross margin of 16.30% for Q3. This represents a YoY decline of 14.03% and a QoQ surge of 90.50%. The QoQ profitability rebound signals enhanced operational efficiency despite ongoing challenges.
Operating and Net Income:
Operating income turned positive but marginally at $256,013, down substantially from previous periods, reflecting pressures from increased operating expenses. Net income was $129,424, with a drastically poorer net margin of 0.29% versus 1.5% year-on-year.
Cash Flow Position:
Despite generating negative operating cash flows of -$2.67 million, CGA's cash reserves remain robust, showcasing resilience amidst operational pressures. Their current ratio of 2.76 underlines adequate short-term liquid assets against current liabilities.