Universal Security Instruments, Inc. Reports Significant Q2 Sales Growth and Return to Profitability
Universal Security Instruments, Inc. Reports Significant Q2 Sales Growth and Return to Profitability
The company reported net income of $576,978, a significant turnaround from a net loss of $186,425 last year.Universal Security Instruments reports significant sales growth and net income improvement for Q2 2024, with expectations of future changes.
通用安全仪器报告称，2024年第二季度销售额显著增长，净利润改善，预计未来将发生变化。
Quiver AI Summary
Quiver AI 概要
Universal Security Instruments, Inc. reported significant financial growth in its fiscal second quarter ended September 30, 2024, with sales rising 93.8% to $7.2 million compared to $3.7 million in the same quarter last year. The company achieved net income of $576,978, or $0.25 per share, a turnaround from a net loss of $186,425 in the previous year. For the six-month period, sales grew 13.3%, reaching $11.8 million, and net income was positive at $134,772, up from a loss of $21,295 in 2023. A key contributor to the sales increase was significant purchases from a national retail chain. Despite this success, the company cautioned that such levels of sales and income may not continue in upcoming quarters. Additionally, the company is undergoing an asset purchase agreement with Feit Electric Company, expected to close by early 2025, pending shareholder approval.
通用安全仪器公司报告称，截至2024年9月30日的财政第二季度，财务业务显著增长，销售额增长了93.8%，达到720万美元，相比去年同期的370万美元。该公司实现净利润为576,978美元，每股0.25美元，扭亏为盈，而上一年度净亏损为186,425美元。在为期六个月的时间内，销售额增长了13.3%，达到1180万美元，净利润为正134,772美元，较2023年的亏损21,295美元有所增加。促使销售增长的关键因素是从一家全国性零售连锁店进行的重大采购。尽管取得了这样的成就，公司警告称未来季度的销售和收入水平可能无法持续。此外，公司正在进行一项与Feit Electric Company的资产购买协议，预计将于2025年初完成，待股东批准。
Potential Positives
潜在的积极因素
- Sales increased 93.8% in the fiscal second quarter compared to the same period last year, indicating strong demand for the company's products.
- The company reported a net income of $576,978 for the quarter, a significant turnaround from a net loss of $186,425 in the same quarter the previous year.
- For the six-month period, the company also saw sales growth of 13.3%, demonstrating overall improvement in revenue year-over-year.
- The announcement of an Asset Purchase Agreement with Feit Electric Company may indicate strategic growth opportunities pending shareholder approval.
- 销售额较去年同期增长了93.8%，显示出公司产品强劲的市场需求。
- 该公司第二季度报告净利润为576,978美元，较前一年同季度的净亏损186,425美元有了重大好转。
- 在为期六个月的时间内，公司也实现了销售额增长13.3%，显示出营业收入在年度上有整体改善。
- 与Feit Electric Company签订资产购买协议的公告可能表明有战略性增长机会，待股东批准。
Potential Negatives
潜在负面影响
- The company does not anticipate that the recent sales growth and net income levels will continue in the succeeding quarters, indicating potential future financial instability.
- The inclusion of a significant sale to a national retail chain may suggest reliance on a single customer for a substantial portion of sales, which could pose a risk if that relationship changes.
- The company reported an accumulated deficit of $7,811,171, indicating ongoing financial challenges despite recent gains.
- 公司预计最近的销售增长和净利润水平不会在接下来的季度继续，表明未来可能存在财务不稳定性。
- 向一个国家的零售连锁店进行重大销售可能表明公司对销售的主要部分依赖于单一客户，如果这种关系发生变化可能带来风险。
- 公司报告的累计亏损为781万1171美元，表明尽管最近取得收益，仍面临持续的财务挑战。
FAQ
FAQ
What were Universal Security Instruments' sales figures for the second quarter of 2024?
通用安全仪器在2024年第二季度的销售额是多少？
Sales increased 93.8% to $7,203,269 compared to $3,717,455 for the same period last year.
销售额增长93.8%，达到720万3269美元，而去年同期为371万7455美元。
How did the company's net income change for the most recent quarter?
公司最近一个季度的净利润发生了什么变化？
The company reported net income of $576,978, a significant turnaround from a net loss of $186,425 last year.
该公司报告净利润为576,978美元，较上年的净亏损186,425美元有了显著的好转。
What prompted the sales increase for Universal Security Instruments?
什么促使通用安全仪器的销售增加?
Sales to a national retail chain contributed approximately $3,541,000 to the increased sales for the quarter.
销售给一个全国性零售连锁店对本季度销售额的增长贡献了大约3,541,000美元。
What future plans were mentioned in the press release?
新闻稿中提到了哪些未来计划?
The company anticipates the closing of an Asset Purchase Agreement with Feit Electric Company, expected in early 2025.
公司预计将于2025年初与Feit Electric Company签订资产购买协议。
When was Universal Security Instruments founded?
通用安全仪器是什么时候成立的?
The company was founded in 1969, boasting over 55 years of experience in safety and security devices.
该公司成立于1969年，拥有超过55年的安全设备和安防设备经验。
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
免责声明：这是由GlobeNewswire分发的新闻稿的人工智能生成摘要。用于总结这份稿件的模型可能会出错。请在这里查看完整发布。
Full Release
全面发布
OWINGS MILLS, Md., Nov. 19, 2024 (GLOBE NEWSWIRE) -- Universal Security Instruments, Inc. (NYSE AMEX: UUU) today announced results for its fiscal second quarter and six months ended September 30, 2024.
马里兰州欧因斯米尔斯，2024年11月19日 (全球新闻社) -- 通用安全仪器公司 (纽交所 AMEX: UUU) 今日宣布截至2024年9月30日的财政第二季度和六个月的业绩结果。
For the three months ended September 30, 2024, sales increased 93.8% to $7,203,269 compared to sales of $3,717,455 for the same period last year. The Company reported net income of $576,978, or $0.25 per basic and diluted share, compared to a net loss of $186,425 or $0.08 per basic and diluted share for the same period last year.
截至2024年9月30日的三个月，销售额增长93.8%，达到7203269美元，相比去年同期的销售额3717455美元。公司报告净利润达576978美元，每股基本和摊薄0.25美元，而去年同期净损失为186425美元，每股基本和摊薄0.08美元。
For the six months ended September 30, 2024, sales increased 13.3% to $11,801,785 versus $10,416,266 for the same period last year. The Company reported net income of $134,772, or $0.06 per basic and diluted share, compared to a net loss of $21,295 or $0.01, per basic and diluted share for the corresponding 2023 period. Included in the results for the quarter ended September 30, 2024, were sales to a national retail chain which accounted for approximately $3,541,000 of the increased sales. The Company does not anticipate that this level of sales and net income will continue in succeeding quarters.
截至2024年9月30日的六个月，销售额增长13.3%，达到11801785美元，相比去年同期的销售额10416266美元。公司报告净利润为134772美元，每股基本和摊薄0.06美元，而去年同期净损失为21295美元，每股基本和摊薄0.01美元。2024年9月30日结束季度的业绩中，向一家全国零售连锁公司销售额约3541000美元。公司预计这种销售和净利润水平不会在接下来的季度持续。
"As previously reported, on October 29, 2024, the Company entered into an Asset Purchase Agreement by and among the Company and its wholly owned subsidiary and Feit Electric Company, Inc., a California corporation. The Company expects to continue business as usual pending shareholder approval and the closing of the Asset Purchase Agreement which is expected to be in the first quarter of calendar 2025," said Harvey Grossblatt, CEO.
“正如先前报道的，2024年10月29日，公司与其全资子公司和加利福尼亚州公司菲特电气公司签署了资产购买协议。公司预计在股东批准和预计将于2025年第一季度结束的资产购买协议完成之前将继续正常业务，”首席执行官哈维·格罗斯布拉特表示。
UNIVERSAL SECURITY INSTRUMENTS, INC. is a U.S.-based manufacturer and distributor of safety and security devices. Founded in 1969, the Company has an over 55-year heritage of developing innovative and easy-to-install products, including smoke, fire and carbon monoxide alarms. For more information on Universal Security Instruments, visit our website at
.
通用安全仪器公司是一家总部位于美国的安全设备制造商和分销商。成立于1969年，公司拥有超过55年的开发创新易于安装产品的传统，包括烟雾、火灾和一氧化碳报警器。有关通用安全仪器的更多信息，请访问我们的网站。
.
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"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Certain matters discussed in this news release may constitute forward-looking statements within the meaning of the federal securities laws that inherently include certain risks and uncertainties. Actual results could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including, among other items, currency fluctuations, the impact of current and future laws and governmental regulations affecting us and other factors which may be identified from time to time in our Securities and Exchange Commission filings and other public announcements. We do not undertake and specifically disclaim any obligation to update any forward-looking statements to reflect occurrence of anticipated or unanticipated events or circumstances after the date of such statements. We will revise our outlook from time to time and frequently will not disclose such revisions publicly.
1995年《私人证券诉讼改革法案》下的"免责"声明:本资讯发布中讨论的某些事项可能构成联邦证券法义务范围内的前瞻性陈述，这些陈述固有地包括某些风险和不确定性。 由于许多因素，包括但不限于货币波动，当前和未来影响我们的法律和政府法规的影响以及其他因素，实际结果可能与前瞻性陈述中预测或考虑的结果大不相同，这些因素可能会被不时地在我们的证券交易委员会申报和其他公告中辨认。 我们不承诺并明确否认更新任何前瞻性陈述以反映预期或意外事件或情况发生后此类声明的日期。 我们将不时调整我们的展望，且通常不会公开披露这些修订。
|
UNIVERSAL SECURITY INSTRUMENTS, INC. CONDENSED CONSOLIDATED INCOME STATEMENTS (UNAUDITED) | |||||||
|
Three Months Ended September 30, |
|||||||
|
2024 |
2023 |
||||||
|
Sales |
$ |
7,203,269 |
|
$ |
3,717,455 |
||
|
Net income (loss) |
576,978 |
|
(186,425 ) |
||||
|
Earnings (Loss) per share: |
|||||||
|
Basic and diluted |
$ |
0.25 |
|
$ |
(0.08 ) |
||
|
Weighted average number of common shares outstanding: |
|
|
|||||
|
Basic and diluted |
2,312,887 |
|
2,312,887 |
||||
|
通用安全仪器, Inc. 216.7 (未经审计) | |||||||
|
截至三个月 9月30日, |
|||||||
|
2024 |
2023 |
||||||
|
销售额 |
$ |
7,203,269 |
|
$ |
3,717,455 |
||
|
净利润（损失） |
576,978 |
|
(186,425 ) |
||||
|
每股收益（亏损）： |
|||||||
|
基本和摊薄 |
$ |
0.25 |
|
$ |
(0.08 ) |
||
|
普通股平均流通股数： |
|
|
|||||
|
基本和摊薄 |
2,312,887 |
|
2,312,887 |
||||
|
Six Months Ended September 30, |
|||||||
|
2024 |
2023 |
||||||
|
Sales |
$ |
11,801,785 |
|
$ |
10,416,226 |
||
|
Net income (loss) |
134,772 |
|
(21,295 ) |
||||
|
Earnings (Loss) per share: |
|||||||
|
Basic and diluted |
$ |
0.06 |
|
$ |
(0.01 ) |
||
|
Weighted average number of common shares outstanding: |
|
|
|||||
|
Basic and diluted |
2,312,887 |
|
2,312,887 |
||||
|
截至六个月结束 9月30日, |
|||||||
|
2024 |
2023 |
||||||
|
销售额 |
$ |
11,801,785 |
|
$ |
10,416,226 |
||
|
净利润（损失） |
134,772 |
|
(21,295 ) |
||||
|
每股收益（亏损）： |
|||||||
|
基本和摊薄 |
$ |
0.06 |
|
$ |
(0.01 ) |
||
|
普通股平均流通股数： |
|
|
|||||
|
基本和摊薄 |
2,312,887 |
|
2,312,887 |
||||
|
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) | |||||||
|
ASSETS |
|||||||
|
Sept. 30, 2024 |
Sept. 30, 2023 |
||||||
|
Cash |
$ |
234,199 |
$ |
254,818 |
|||
|
|
|
||||||
|
Accounts receivable and amount due from factor |
6,460,368 |
3,130,458 |
|||||
|
Inventory |
5,980,798 |
4,968,433 |
|||||
|
Prepaid expense |
152,429 |
365,630 |
|||||
|
TOTAL CURRENT ASSETS |
12,827,794 |
8,719,339 |
|||||
|
PROPERTY, EQUIPMENT AND INTANGIBLE ASSETS–NET |
108,892 |
276,043 |
|||||
|
OTHER ASSETS |
- |
- |
|||||
|
TOTAL ASSETS |
$ |
12,936,686 |
$ |
8,995,382 |
|||
|
LIABILITIES AND SHAREHOLDERS' EQUITY |
|||||||
|
Line of credit – factor. |
$ |
4,216,134 |
$ |
912,147 |
|||
|
Short-term portion of operating lease liability |
93,065 |
154,969 |
|||||
|
Accounts payable |
3,064,147 |
1,990,116 |
|||||
|
Accrued liabilities |
465,541 |
507,563 |
|||||
|
TOTAL CURRENT LIABILITIES |
7,838,887 |
3,564,795 |
|||||
|
|
|
||||||
|
LONG TERM PORTION OF OPERATING LEASE LIABILITY |
- |
93,065 |
|||||
|
TOTAL LONG-TERM LIABILITIES |
- |
93,065 |
|||||
|
SHAREHOLDERS' EQUITY: |
|||||||
|
Common stock, $.01 par value per share; authorized 20,000,000 shares; issued and outstanding 2,312,887 at September 30, 2024 and 2023 |
23,129 |
23,129 |
|||||
|
Additional paid-in capital |
12,885,841 |
12,885,841 |
|||||
|
Accumulated Deficit |
(7,811,171 ) |
(7,571,448 ) |
|||||
|
TOTAL SHAREHOLDERS' EQUITY |
5,097,799 |
5,337,522 |
|||||
|
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |
$ |
12,936,686 |
$ |
8,995,382 |
|||
|
简明合并资产负债表 (未经审计) | |||||||
|
资产 |
|||||||
|
2024年9月30日 |
2023年9月30日 |
||||||
|
现金 |
$ |
234,199 |
$ |
254,818 |
|||
|
|
|
||||||
|
应收账款和向保理公司的应收款项 |
6,460,368 |
3,130,458 |
|||||
|
存货 |
5,980,798 |
4,968,433 |
|||||
|
预付费用 |
152,429 |
365,630 |
|||||
|
总流动资产 |
12,827,794 |
8,719,339 |
|||||
|
资产、设备和无形资产-净额 |
108,892 |
276,043 |
|||||
|
其他资产 |
- |
- |
|||||
|
资产总计 |
$ |
12,936,686 |
$ |
8,995,382 |
|||
|
负债和股东权益 |
|||||||
|
信用额度-因素。 |
$ |
4,216,134 |
$ |
912,147 |
|||
|
经营租赁负债的短期部分 |
93,065 |
154,969 |
|||||
|
应付账款 |
3,064,147 |
1,990,116 |
|||||
|
应计负债 |
465,541 |
507,563 |
|||||
|
流动负债合计 |
7,838,887 |
3,564,795 |
|||||
|
|
|
||||||
|
经营租赁负债的长期部分 |
- |
93,065 |
|||||
|
总长期负债 |
- |
93,065 |
|||||
|
股东权益: |
|||||||
|
普通股，每股面值$0.01；授权20,000,000股；2024年和2023年9月30日已发行并流通2,312,887股 |
23,129 |
23,129 |
|||||
|
追加实收资本 |
12,885,841 |
12,885,841 |
|||||
|
累计赤字 |
(7,811,171 ) |
(7,571,448 ) |
|||||
|
股东的权益总额 |
5,097,799 |
5,337,522 |
|||||
|
资产负债合计 |
$ |
12,936,686 |
$ |
8,995,382 |
|||
Contact: Harvey Grossblatt, CEO
Universal Security Instruments, Inc.
(410) 363-3000, Ext. 224
or
Zachary Mizener
Lambert & Co.
(315) 529-2348
联系人：Harvey Grossblatt，首席执行官
通用安全仪器公司
(410) 363-3000，分机224
or
Zachary Mizener
Lambert & Co.
(315) 529-2348
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