08:33 AM EST, 12/13/2024 (MT Newswires) -- Unisync ( USYNF ) on Friday said its fourth-quarter net loss fell by about 50%

The company, which operates Unisync Group (UGL) and Peerless Garments, said the net loss attributable to shareholders narrowed to $3.3 million, or $0.17 per share, from $6.7 million, or $0.35 per share last year.

Consolidated revenue of $20 million was 3.5% lower than the same period last year. UGL revenues increased $1 million to $18.3 million due in most part to price increases, while the Peerless segment experienced a $1.7 million decrease due to lower uniform product deliveries to the Department of National Defence.

In its outlook, Unisync's ( USYNF ) UGL segment continues to place strong focus on the U.S. market. UGL is in advanced discussions with several major corporations regarding their image wear programs totaling close to US$100 million annually in potential new business. The Peerless business segment is positioned to maintain its current level of revenue and profitability through fiscal 2025 with $34 million in firm government contracts and options on hand covering deliveries in future years.