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Karat(KRT) - 2023 Q4 - Annual Results
KRTKarat(KRT)2024-03-15 04:15

1 • Fourth quarter 2023 financial results included: ◦ Change of estimate on import duty reserve totaling 2.3million,anincreasetocostofgoodssold.Writeoffof2.3 million, an increase to cost of goods sold. ◦ Write-off of 1.1 million of a vendor prepayment upon the resolution of a legal contingency, an increase to general and administrative expenses. ◦ Out-of-period tax adjustment of $0.3 million, an increase to provision for income taxes. ◦ Misclassification adjustments for the full year amounts within the income statement with no impact on net income: ▪ Ad ...