What caused PSIG's operating profit decline in 2023?

The operating profit of PSIG declined from $132851 to $261077 over the course of 2023. The decrease in operating profit can be attributed to several factors: 1. **Decrease in Revenue**: The most significant factor contributing to the decline in operating profit is the decrease in revenue. PSIG's total revenue for the period ending June 30, 2023, was $330507, while for the period ending December 31, 2023, it was $8873. This substantial drop in revenue indicates a decline in the company's business activity or market demand for its products or services. 2. **Operating Losses**: PSIG experienced operating losses of $330507 for the quarter ending June 30, 2023, and $132851 for the quarter ending September 30, 2023. These losses suggest that the company's core operations are not profitable during these periods, which directly impacts the overall operating profit. In conclusion, the decline in PSIG's operating profit in 2023 is primarily due to a significant decrease in revenue and operating losses. The company needs to address these issues to improve its financial performance. |code|Ticker|Name|Date|Operating Income|Total Revenue|Net Income|market_code| |---|---|---|---|---|---|---|---| |PSIG|PSIG.O|PS International|2023 Q1|-11947||-8873|186| |PSIG|PSIG.O|PS International|2023 Q2|-331158||-330507|186| |PSIG|PSIG.O|PS International|2023 Q3|-129126||-132851|186| |PSIG|PSIG.O|PS International|2023 Q4|-261077||-261077|186|