India, April 23 -- Shares of Acme United Corp. (ACU) were losing around 3.4 percent in the pre-market activity after the supplier of first aid and medical products on Thursday reported a drop in first quarter profit even as sales rose. Net income for the quarter declined 40 percent to $1.0 million or $0.24 per share from $1.7 million or $0.41 per share last year. The decline was driven by higher cost of sales and increased operating expenses tied to tariff-related costs, investments in enhanced quality assurance protocols at its Med-Nap facility, and rising employee healthcare expenses.
Quarterly net sales reached $52.3 million, up 14 percent compared to $46.0 million a year earlier. Excluding incremental sales from the acquisition of My M...