Karat Packaging Inc. (NASDAQ:KRT) Q1 2024 Earnings Call Transcript

Alan Yu: Currently, we’re sitting on some cash that we actually put on a deposit for income — we’re actually generating income. And, of course, we’re increasing our dividend because we — our cash flow continued to increase because our operation is pretty strong, and we’re not — we don’t have any debt in that. And that’s why we’re looking at merger and acquisition. If we were to successfully complete two acquisitions by the end of this year, that should deplete our cash — pretty much take some of our cash. I wouldn’t say deplete all of our cash because we’re still generating more cash every quarters. I would say that we’re still in a healthy cash flow position at that part. We are looking at acquisition target definitely not to exceed what we have on hand — on cash on hand.

Michael Francis: Okay. I hope you can find a new replacement restaurant. It’s too bad.

Operator: That concludes our Q&A session. I will now turn the conference back over to Alan Yu for closing remarks.

Alan Yu: Thank you, everyone, for joining Karat first quarter 2024 earnings conference call. And once again, thank you very much, and we’ll talk to you next time. Bye-bye.

Operator: Ladies and gentlemen, that concludes today’s call. Thank you all for joining. You may now disconnect.