Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 741

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 7
Chunk 741
---
  
    (Accumulated
    deficit) Retained earnings 
     (4,297) 
     6,762 
  
    Total
    equity attributable to ZRCN Inc. stockholders 
     3,889  
     6,576 
  
    Non-controlling
    interests in variable interest entities 
     1,641  
     1,692 
  
    Total
    stockholders’ equity 
     5,530  
     8,268 
  
    Total
    liabilities and stockholders’ equity 
    $23,378  
    $27,615 

The
accompanying notes are an integral part of these consolidated financial statements.

F-2

ZRCN
Inc.

CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(in
thousands, except share data)

    2025  
    2024 

    For
    the Year Ended March 31, 

    2025  
    2024 
  
    Net sales 
    $28,075  
    $31,519 
  
    Cost of sales 
     16,936  
     17,690 
  
    Gross profit 
     11,139  
     13,829 

    Operating expenses: 

    General and administrative 
     7,354  
     6,702 
  
    Marketing and selling 
     4,528  
     4,373 
  
    Research
    and development 
     1,712  
     1,918 
  
    Total operating expenses 
     13,594  
     12,993 
  
    (Loss) income from operations 
     (2,455) 
     836 

    Other (income) expenses: 

    Other income 
     (800) 
     — 
  
    Interest expense 
     804  
     739 
  
    Other expenses 
     30  
     31 
  
    (Gain)
    loss on foreign currency transactions 
     (172) 
     85 
  
    Total other (income) expenses 
     (138) 
     855 

    Loss before income taxes 
     (2,317) 
     (19)
  
    Income
    tax (expense) benefit 
     (573)