Steel Connect (NASDAQ: STCN) Q3 financial results report analysis
- Steel Connect (NASDAQ: STCN) reported its Q1 fiscal 2019 results on June 7th;
- Net revenues and operating income improved slightly;
- Gross margin and adjusted EBITDA decreased compared to the past year’s quarter.
Steel Connect (NASDAQ: STCN) reported its Q1 fiscal 2019 results on June 7th. The results were not all in the green or in the red. However, net revenue, which is arguably the most important figure, did increase versus Q3 2018.
Steel Connect reported its net revenue of $194.0 million. This figure increased by $0.1 million when compared to the previous year’s quarter. Gross margin of 19.0% declined by 110 basis points compared to the Q3 2018. Operating income of $2.2 million managed to improve $0.8 million. Steel connect also reported its adjusted EBITDA to be $15.6 million. This figure decreased by $1.3 million when compared to Q3 2018.