The company posted net earnings of $5.05 million, or $1.22 per share, up from $4.8 million, or $1.16 per share, during the same period last year. Revenue saw a sharper climb, reaching $62.7 million compared to $54 million in the previous year's second quarter.
In section Market Quotes
Acme United Climbs to 52-Week High on Strong Quarterly Growth
Acme United shares surged 11% to $50.93 on Thursday, briefly touching a 52-week peak of $51.88, as the company reported a significant jump in both quarterly sales and earnings. The performance marks a continuation of an upward trend, with the stock gaining 18% over the past year.
Driving this growth was the January 15 acquisition of My Medic assets. While the integration contributed to top-line gains, the company noted that comparable sales rose 8% when excluding the new business. My Medic had a negligible effect on second-quarter earnings due to its seasonal structure; as a direct-to-consumer entity, the brand historically concentrates the majority of its profitability in the fourth quarter.
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