ACCESS Newswire
15 Sep 2023, 04:01 GMT+10
KIMBALL, NE / ACCESSWIRE / September 14, 2023 / GEORGE RISK INDUSTRIES, INC., (OTC PINK:RSKIA), a diversified and leading American manufacturer of a wide variety of products in the security and proximity sensor industries, recorded net sales of $4,728,000.00 for the quarter ending July 31, 2023. Net income for the quarter ended July 31, 2023, was $2,374,000.00, a 125.88% increase from the corresponding quarter last year, which showed net income of $1,051,000.00. Earnings per share for the quarter ended July 31, 2023, was $0.48 per common share and $0.21 per common share for the quarter ended July 31, 2022.
First quarter sales were lower, down $482,000.000 from the same period last year. We experienced a slight slowdown when we moved our shipping department, finished goods stockroom and a couple of product lines into a new building in order to increase our production areas in the main plant, but we are running smoothly now. Some of our production lines are also experiencing significant backlogs due to high product demand and continuing challenges with our local labor pool. However, booked sales are up from the same quarter last year and significant orders from our stocking distributors are arriving daily. We are continually grateful for the installation companies, our distribution network and employees for their hard work and dedication.
New product development includes explosion proof contacts which will be UL listed for hazardous locations. We are receiving several calls a week for this high security magnetic reed switch. Also in development are magnetic contacts which are listed under UL 634 Level 2. These sensors are for high security applications such as government buildings, military, nuclear facilities and financial institutions. Requests for development include a small glass break detector and programmable temperature and humidity sensors with built-in hysteresis. Engineering continues to work on wireless contact switches and monitoring devices which include glass break detection, tilt sending and environmental monitoring. A redesign for our brass water valve shut off system is near completion.
At George Risk Industries, Inc.'s latest Board of Directors meeting, which was held on August 29, 2023, a dividend of $0.65 per common share was declared. This is a $0.05 increase from the dividend that was paid last year. This dividend will be paid to stockholders of record as of September 30, 2023 and will be paid out by October 31, 2023
George Risk Industries, Inc. is engaged in the design, manufacture and sale to distributors and OEM manufacturers of custom computer keyboards, push button switches, burglar alarm components, pool access alarms, thermostats, E-Z Duct wire cover, hydro sensors and wire and cable tools. The company has representation in the United States, Canada, Asia and EMEA (Europe, the Middle East and Africa.).
CONTACT:
Stephanie M. Risk-McElroy, President/CEO/CFO
308-235-4645
800-523-1223
SOURCE: George Risk Industries Inc
Get a daily dose of Los Angeles Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Los Angeles Herald.
More InformationWASHINGTON, D.C.: In a significant ruling last week, the U.S. Supreme Court upheld a Texas law requiring age verification for users...
ISTANBUL/PARIS/BRUSSELS: As searing temperatures blanket much of Europe, wildfires are erupting and evacuation orders are being issued...
VENICE, Italy: Over the weekend, hundreds of protesters marched through the narrow streets of Venice to voice their opposition to billionaire...
PARIS, France: France is taking stronger steps to reduce smoking. A new health rule announced on Saturday will soon ban smoking in...
WASHINGTON, DC - U.S. President Donald Trump on Tuesday claimed Elon Musk's success has been built on government subsidies. Without...
EVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered...
MENLO PARK, California: Robinhood is giving European investors a new way to tap into America's most prominent tech names — without...
WASHINGTON, DC - U.S. President Donald Trump on Tuesday claimed Elon Musk's success has been built on government subsidies. Without...
SANTA CLARA, California: Executives at Nvidia have quietly been cashing in on the AI frenzy. According to a report by the Financial...
Vancouver, Canada: A high-stakes legal showdown is brewing in the world of athleisure. Lululemon, the Canadian brand known for its...
DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
SAN FRANCISCO, California: Across the U.S., a growing number of people are taking obesity treatment into their own hands — literally....