Planet Image, the company that owns printer supplies firm Aster Graphics, sees revenue growth, but profit margins shrink amid pricing pressure.
Planet Image International (YIBO) reported flat annual revenues but a decline in profitability for the full year 2024.
Revenues reached $149.8 million (€139.3 million), broadly in line with the $150.2 million (€139.6 million) achieved in 2023. However, net income fell 8.5% to $7.11 million (€6.6 million), from $7.77 million (€7.2 million) in the previous year.
The company’s profit margin tightened to 4.7%, down from 5.2% in 2023.
