Company: KEQU
Filing Date: 2025-03-14
Form Type: 10-Q
Source: 0000055529-25-000013
Chunk: 78

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-03-14
Form: 10-Q
Item: Part I, Item 2
Chunk 78
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163,324,000, an increase from sales of $147,053,000 in the comparable period of the prior year. Domestic sales for the period were $123,908,000, up 22.2% from sales of $101,379,000 in the comparable period of the prior year. The increase in Domestic sales was primarily driven by the incorporation of Nu Aire's post-acquisition results, as well as higher manufacturing volumes than the prior year period. International sales for the period were $39,416,000, down 13.7% from sales of $45,674,000 in the comparable period of the prior year. International sales decreased when compared to the prior year period due to customer construction site delays in India which have pushed out the timing of deliveries.

The Company's order backlog was $221.6 million at January 31, 2025, as compared to $152.3 million at January 31, 2024, and $155.6 million at April 30, 2024.

The gross profit margin for the three months ended January 31, 2025 was 27.4% of sales, as compared to 25.7% of sales in the comparable quarter of the prior year. The gross profit margin for the nine months ended January 31, 2025 was 27.4% of sales, as compared to 25.4% of sales in the comparable quarter of the prior year period. The increase in gross profit margin percentage for the three months ended January 31, 2025 was primarily driven by the acquisition of Nu Aire on November 1, 2024, combined with enhanced manufacturing productivity and effective cost-containment measures. The increase in gross profit margin percentage for the nine months ended January 31, 2025 was driven by enhanced manufacturing productivity, effective 

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cost-containment measures, and continued benefits related to the Company's strategic go-to-market decision, made in a prior fiscal year, to stop selling direct.

Operating expenses for the three months ended January 31, 2025 were $16,129,000, or 24.0% of sales, as compared to $8,223,000, or 17.6% of sales, in the comparable period of the prior year. Operating expenses for the nine months ended January 31, 2025 were $35,560,000, or 21.8% of sales, as compared to $24,688,