Karat Packaging Inc.
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
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FY2024 · Filed Mar 14, 2025
KRT$37.79+3.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Net sales | $422,633 | $405,651 |
| Cost of goods sold | 258,304 | 252,608 |
| Gross profit | 164,329 | 153,043 |
| Operating expenses | ||
| Selling expenses | 52,286 | 41,490 |
| General and administrative expenses (including $2,358 and $2,749 associated with variable interest entity for the year ended December 31, 2024 and 2023, respectively) | 71,530 | 66,952 |
| Impairment expense and loss, net, on disposal of machinery | 2,752 | 2,525 |
| Total operating expenses | 126,568 | 110,967 |
| Operating income | 37,761 | 42,076 |
| Other income (expenses) | ||
| Rental income (including $1,038 and $981 associated with variable interest entity for the year ended December 31, 2024 and 2023, respectively) | 2,076 | 1,090 |
| Other income (expenses), net | 162 | (45) |
| Gain on foreign currency transactions | 520 | 103 |
| Interest income (including $470 and $606 associated with variable interest entity for the year ended December 31, 2024 and 2023, respectively) | 2,299 | 1,803 |
| Interest expense (including $2,062 and $2,019 associated with variable interest entity for the year ended December 31, 2024 and 2023, respectively) | (2,123) | (2,043) |
| Total other income, net | 2,934 | 908 |
| Income before provision for income taxes | 40,695 | 42,984 |
| Provision for income taxes | 9,871 | 9,804 |
| Net income | 30,824 | 33,180 |
| Net income attributable to noncontrolling interest | 849 | 710 |
| Net income attributable to Karat Packaging Inc. | $29,975 | $32,470 |
| Basic and diluted earnings per share: | ||
| Basic | $1.50 | $1.63 |
| Diluted | $1.49 | $1.63 |
| Weighted average common shares outstanding, basic | 20,002,211 | 19,904,698 |
| Weighted average common shares outstanding, diluted | 20,124,284 | 19,977,712 |
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