Lakeside Holding Limited Announces First Quarter Fiscal Year 2025 Results

Lakeside Holding Limited, a leading integrated cross-border supply chain solution provider, operating under the brand American Bear Logistics (ABL), recently revealed its financial results for the first quarter of fiscal 2025, ending on September 30, 2024.

In the report, Lakeside Holding disclosed that total revenues for the quarter decreased slightly by 1.6% to $4,081,554, as compared to $4,148,476 for the same period in 2023. This decline was primarily driven by decreases in revenues from the cross-border airfreight solutions segment, partially offset by increases in revenues from the cross-border ocean freight solutions segment.

Revenue from cross-border airfreight solutions dropped by 8.2%, from $2.4 million in the third quarter of 2023 to $2.2 million in the same period of 2024, attributed to reduced freight volume. Conversely, revenue from cross-border ocean freight solutions rose by 7.8% to $1.8 million, reflecting an increase in processed and forwarded ocean freights.

The revenue breakdown by customer geography showcased a notable surge in revenues from Asia-based customers, with a 65.8% increase to $2.8 million in 2024 from $1.7 million in 2023. However, revenues from U.S.-based customers decreased by 48.2% to $1.3 million in 2024 from $2.5 million in 2023.

The company reported an increase in cost of revenues by 1.7% and a decrease in gross profit by 19.3%, resulting in a net loss of $1.3 million for the quarter, in contrast to a loss of $0.3 million in 2023. This was mainly influenced by higher general and administrative expenses, which spiked by 114.7%.

Chairman and CEO of Lakeside Holding, Henry Liu, expressed positivity about future revenue rebound expectations, emphasizing the preparedness to meet the increasing customer demands efficiently. He highlighted strategic expansions and investments in logistics technology aiming at enhancing shareholder and customer value in the upcoming quarters.

The company also touched on several operational highlights for the quarter, including strategic partnerships and the expansion of operational facilities, indicating a proactive approach to meet growing demand and offer enhanced services to its clientele.

Investors and stakeholders can find detailed financial statements and further information regarding Lakeside Holding Limited on their corporate website.

This press release contains forward-looking statements reflecting Lakeside Holding’s current expectations; however, actual results may differ due to various risks and uncertainties. The company does not undertake any obligation to update these forward-looking statements.

For further details, investors can contact Matthew Abenante, President of Strategic Investor Relations, LLC, at 347-947-2093 or via email at [email protected].

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Lakeside’s 8K filing here.

Lakeside Company Profile

Lakeside Holding Limited, through its subsidiaries, provides integrated cross-border supply chain solution in the United States, China, South Korea, and internationally. It offers a range of integrated services under cross-border ocean freight solutions and cross-border airfreight solutions, including cross-border freight consolidation and forwarding services, customs clearance services, warehousing and distribution services, and U.S.