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Forward Industries Inc   (FORD)
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Price: $0.6321 $-0.02 -2.903%
Day's High: $0.6699 Week Perf: -2.87 %
Day's Low: $ 0.63 30 Day Perf: -12.75 %
Volume (M): 24 52 Wk High: $ 1.23
Volume (M$): $ 15 52 Wk Avg: $0.86
Open: $0.66 52 Wk Low: $0.59



 Market Capitalization (Millions $) 6
 Shares Outstanding (Millions) 10
 Employees 11
 Revenues (TTM) (Millions $) 33
 Net Income (TTM) (Millions $) -4
 Cash Flow (TTM) (Millions $) 1
 Capital Exp. (TTM) (Millions $) 0

Forward Industries Inc

Forward Industries, Inc. designs and distributes carry and protective solutions, primarily for hand held electronic devices, including soft-sided carrying cases, bags, clips, hand straps, protective plates and other accessories made of leather, nylon, vinyl, plastic, PVC and other synthetic materials. Our principal customer market is original equipment manufacturers, or “OEMs” (or the contract manufacturing firms of these OEM customers), that either package our products as accessories “in box” together with their branded product offerings, or sell them through their retail distribution channels. Our OEM products include carrying cases and other accessories for blood glucose monitoring kits and a variety of other portable electronic and non-electronic products (such as sporting and recreational products, bar code scanners, smartphones, GPS and location devices, tablets, firearms and other products). Our carrying cases are designed to enable these devices to be stowed in a pocket, handbag, briefcase, or backpack, clipped to a belt or shoulder strap, or strapped to an arm, while protecting the consumer electronic or other product from scratches, dust, and mishandling. Our OEM customers are located in: (i) the Asia-Pacific Region, which we refer to as the “APAC Region”; (ii) Europe, the Middle East, and Africa, which we refer to as the “EMEA Region”; and (iii) the Americas. We do not manufacture any of our OEM products and source substantially all of our OEM products from independent suppliers in China.

In May 2001, we formed Forward Switzerland to facilitate distribution of aftermarket products under our licenses for cell phone cases with a major North American multinational and to further develop our OEM European business presence. After the expiration of the last of these licenses in March 2009, staff at Forward Switzerland was significantly reduced and in recent years has primarily served our OEM customers in Europe.

Diabetic Products

We sell carrying cases for blood glucose diagnostic kits (“Diabetic Products”) directly to OEMs (or their contract manufacturers) of these electronic monitoring kits made for use by diabetics. We typically sell these cases at prices ranging from approximately $0.50 to $6.50 per unit. Unit volumes are sold predominantly at the lower end of this price range. The OEM customer (or its contract manufacturer) packages our carry cases “in box” as a custom accessory for the OEM’s blood glucose testing and monitoring kits, or to a much lesser extent, sells them through their retail distribution channels. These kits typically include a small, electronic blood glucose monitor, testing strips, lancets for drawing a drop of blood and our carrying case, customized with the manufacturer’s logo and designed to fit and secure the glucose monitor, testing strips, and lancets in separate straps, pouches, and holders. As the kits and technology change, our carrying case designs change to accommodate the changes in size, shape and layout of the electronic monitoring device, strips and lancet. For Fiscal 2016, our Diabetic Products customers accounted for approximately 88% of our total net revenues.

Other Products

We also sell carrying and protective solutions to OEMs for a diverse array of other portable electronic and other products (“Other Products”), including sporting and recreational products, bar code scanners, smartphones, GPS and location devices, tablets, and firearms, on a made-to-order basis that are customized to fit the products sold by our OEM customers. Our selling prices for these products also vary across a broad range, depending on the size and nature of the product for which we design and sell the carry solution.

Product Development

In our OEM business, the product life cycle in distributing and selling our technology solutions to our OEM customers is as described below. We typically receive requests to submit product designs in connection with a customer’s introduction and rollout to market of a new product that the customer has determined to accessorize and customize with a carry solution. Our OEM customers furnish the desired functionality, size and other basic specifications for the carrying solutions or other product, including the OEM’s identifying logo imprint on the product. Our design and production resources develop more detailed product specifications and design options for our customer’s evaluation. We then furnish the customer with product samples. Working with our suppliers and the customer, samples are modified and refined. Once approved for commercial introduction and order by our customer, we work with our suppliers to ensure conformity of commercial production to the definitive product samples and specifications. Manufacture and delivery of products in production quantities are coordinated with the customer’s manufacturing and shipment schedules so that our carry solution products are available with the customer’s product (and included “in box”, as the case may be) prior to shipment and sale, or to a lesser extent sold by our customer through its retail distribution channels.



   Company Address: 700 Veterans Memorial Highway Hauppauge 11788 NY
   Company Phone Number: 547-3055   Stock Exchange / Ticker: NASDAQ FORD
   


Customers Net Income grew by FORD's Customers Net Profit Margin grew to

220.3 %

26.17 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

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MMM        0.04% 
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Forward Industries Inc

Forward Industries Inc Grapples with Astonishing Difficulties, Reporting Disappointing Financial Results for Q4 2023

Forward Industries Inc is a Chemicals - Plastics & Rubber company that has recently reported disappointing financial results for the period between October and December 2023. During this time, the company's revenue decreased by 33.838% to $7.15 million. Additionally, Forward Industries Inc recorded a shortfall per share of $-0.04, in comparison to the preceding reporting season where the EPS improved to $-0.19 per share.
Despite the negative financial performance in the last quarter of 2023, the company did experience some growth compared to the previous year. The revenue surged by 40.414% to $5.09 million. Furthermore, Forward Industries Inc reported a net shortfall of $-0.354 million, which is an improvement from a deficit of $-0.430 million in the same reporting season the year before.

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Forward Industries Inc

Forward Industries Inc Faces Uphill Battle in Q4 2023 as Financial Health Deteriorates

orward Industries Inc, a leading provider of innovative solutions in the Chemicals - Plastics & Rubber industry, recently released preliminary fiscal year 2023 results that reflect both positive and concerning aspects of the company's performance. While the Design Division witnessed record revenues and improved profitability, overall financial figures are indicative of a challenging period.
For the fiscal year ending September 30, 2023, Forward Industries Inc reported a widened shortfall per share of $-0.19, compared to $-0.08 in the previous year, demonstrating a decline in financial health. The company also experienced a decrease in revenue, which faded by a significant -48.133% to $5.09 million compared to $9.82 million in the same period last year. Sequentially, revenues tumbled by -49.705% from $10.13 million, underlining a concerning trend.

Forward Industries Inc

Forward Industries Inc Faces Hard Times as Revenue Plummets and Losses Deepen in Q3 2023 Earnings Season

Lower revenue led to losses in the third quarter of the 2023 earnings season for Forward Industries Inc. Revenue sank by 4.36% to $10.13 million compared to the previous financial reporting period a year ago. The deficit per share was at $-0.05, slightly worse than the $-0.04 per share realized in the same period a year ago. However, the EPS improved from $-0.09 per share compared to the preceding financial reporting period.
Looking at the third quarter of 2023 earnings season, Forward Industries Inc suffered a net deficit of $-0.537 million, which was larger than the $-0.419 million reported a year ago. This decline in earnings may have been influenced by the decrease in revenue and may indicate challenging market conditions.

Forward Industries Inc

Ford's Fiscal Second Quarter Sees Expansion in Deficit, While Topline Shows Soft Increase

Forward Industries Inc. is a company that operates in the technology sector, particularly in the design and manufacture of custom carrying case solutions for electronic devices. The company has been in business since 1962 and has a strong reputation for providing high-quality products and services to its customers. Despite this, their recent financial statements show a net loss per share of $-0.09 in the January to March 31 2023 time-frame, compared to $-0.04 in the previous year.
However, it's not all bad news as revenue has increased by 3.329% to $10.66 million from the same financial reporting period a year prior. This indicates that Forward Industries Inc. is making progress in expanding its business and bringing in more revenue. In the prior financial reporting period, the company realized revenue of $10.81 million and a bottom line of $-0.04 per share, showcasing a decline in revenue, but improvement in bottom line.
Looking closer at the financials of Forward Industries Inc., it?s important to note that the company has recorded a net deficit of $-0.871 million in the January to March 31 2023 time-frame. This is a significant increase compared to the net deficit of $-0.356 million recorded a year ago, indicating that the company has encountered some challenges.






 

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