Twin vee powercats co. reports second quarter 2024 results of operations

Fort pierce, fl / accesswire / august 14, 2024 / twin vee powercats co. (nasdaq:veee) ("twin vee" or the "company"), manufactures twin vee powercats and aquasport boats knows as offshore, family-friendly fishing boats from its factory in fort pierce, florida today reported operational highlights and financial results for three months ended june 30, 2024. highlights for three months ended june 30, 2024: (unless otherwise noted, all comparisons are to the three months ended june 30, 2023, "q1" refers to the three months ended march 31, 2024, "q2" refers to the three months ended june 30, 2024, "twin vee" refers to the gas-powered segment, "forza" refers to the electric boat and development segment, and "consolidated" refers to the consolidated results of twin vee powercats co.) twin vee experienced a decline in demand for its products due to higher interest rates and slowing economic demand for recreational vehicles proactive measures were taken to mitigate slowing demand challenges, including lowering production numbers, tightened financial controls, and a reduction in workforce.
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