Noting a 39 percent increase in earnings per share for the first quarter of 2024 Acme United Corporation has continued to see its fortunes improve since selling off two knife brands in November of last year.
Sales increased one percent over the first quarter of 2023 when the impact of selling off the Camillus and Cuda product lines.
Chairman and CEO Walter C. Johnsen said in a press release, “Acme United had very strong earnings in the first quarter due to productivity improvements in manufacturing and distribution. We also experienced reduced inbound shipping costs and lowered our selling and general expenses.”
Mr. Johnsen added, “Although the sale of our Cuda and Camillus lines in November reduced revenues, we are generating new revenues under initiatives in our principal business lines. These initiatives include additional distribution of first aid kits and components in the hardware and drug store markets, new craft and cutting tool planograms in the mass market, additional sales of spill clean-up products to large mass market retailers, and new sharpening tools for the kitchen.”
