Airboss of America (TSE:BOS) has released an update.
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AirBoss of America Corp. announced a mixed first quarter of 2024 with a contract win of up to $45 million and a reduction in borrowings, alongside a settlement of a class action lawsuit in Canada. Despite facing economic challenges and experiencing softness in some product lines, the company is focusing on strategic growth and value creation, as evidenced by an amendment to its credit facilities and a declared quarterly dividend. The financial results revealed a net loss for the quarter, a decrease in net sales compared to the previous year, and a negative free cash flow.
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