ACU - Acme United GAAP EPS of -$0.17 revenue of $44.1M

• Acme United press release ( NYSE: ACU ): Q4 GAAP EPS of -$0.17.
• Revenue of $44.1M (-3.7% Y/Y).
• Gross margin was 32.0% in the three months ended December 31, 2022 compared to 35.1% in the same period in 2021.
• "In 2023 we are continuing our program to reduce inventory which began in the fourth quarter of 2022. Our year-end inventory level decreased $2.9 million in accordance with our target for the fourth quarter of 2022. In addition, we plan to reduce inventory by $5.0 million in 2023. We intend to use the resulting increased cash flow on reducing debt and funding acquisitions.”
• “We have many growth opportunities in 2023 including new first aid and medical placements in the industrial and retail markets, new Westcott craft products in the mass and ecommerce markets, new customers and programs with our Camillus hunting and camping tools and expanded sales of Spill Magic products to large mass market retailers.”
• “We expect the combination of continued revenue growth, $5.0 million of cost and productivity savings, the normalization of supply chain expenses, and reduced debt to position the Company for a much-improved year in 2023.”

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