How did IMAG Technology's revenue and expenses trend in Q4 2024?

IMAG Technology's revenue and expenses in Q4 2024 showed a decrease in net sales and gross profit compared to the same period the previous year, while R&D and selling expenses remained relatively stable. 1. **Revenue Trend**: The company's net sales decreased to $5.252 million in Q4 2024, down from $6.635 million in the same quarter the previous year. This decline was attributed to higher one-time sales in the prior year. 2. **Gross Profit Trend**: The gross profit for the quarter decreased to $1.372 million from $1.819 million, resulting in a gross profit percentage of 26.1% compared to 27.4% in the previous year. This decline was due to lower margin revenues. 3. **R&D Expenses Trend**: Research and development expenses decreased to $61,000 from $67,000, reflecting lower compensation expenses. 4. **Selling and Administrative Expenses Trend**: Selling, general, and administrative expenses increased slightly to $1.379 million from $1.368 million, primarily due to fewer payroll hours allocated to cost of goods sold. 5. **Net Income**: The company reported a net loss of $25,000 for the quarter, compared to a net income of $439,000 in the previous year, due to lower gross margins and higher operating expenses. In summary, IMAG Technology experienced a decline in revenue and gross profit in Q4 2024, with net sales decreasing and gross profit margin declining. However, R&D expenses decreased, and selling and administrative expenses remained relatively stable. The net result was a negative trend in net income for the quarter.