Highway Holdings (HIHO) reported first-quarter fiscal year 2027 revenue of approximately $2.0 million. This marks a 29.2% increase from the same period last year.
Gross profit surged 58.4% to $835,000. The gross margin expanded to 42%, up from 34% in the prior year.
The company posted an operating income of $59,000. This compares to an operating loss of $138,000 in the first quarter of fiscal 2026.
Net income attributable to shareholders rose 78.7% to $109,000. This represents $0.02 per diluted share.
Management attributed the improved performance to a better product mix and effective cost controls. These efforts overcame challenges from the recent loss of a major customer.