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.
通用安全儀器報告稱，2024年第二季度銷售額顯著增長，淨利潤改善，預計未來將發生變化。
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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.
通用安全儀器公司報告稱，截至2024年9月30日的財政第二季度，財務業務顯著增長，銷售額增長了93.8%，達到720萬美元，相比去年同期的370萬美元。該公司實現淨利潤爲576,978美元，每股0.25美元，扭虧爲盈，而上一年度淨虧損爲186,425美元。在爲期六個月的時間內，銷售額增長了13.3%，達到1180萬美元，淨利潤爲正134,772美元，較2023年的虧損21,295美元有所增加。促使銷售增長的關鍵因素是從一家全國性零售連鎖店進行的重大采購。儘管取得了這樣的成就，公司警告稱未來季度的銷售和收入水平可能無法持續。此外，公司正在進行一項與Feit Electric Company的資產購買協議，預計將於2025年初完成，待股東批准。
Potential Positives
潛在的積極因素
- 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.
- 銷售額較去年同期增長了93.8%，顯示出公司產品強勁的市場需求。
- 該公司第二季度報告淨利潤爲576,978美元，較前一年同季度的淨虧損186,425美元有了重大好轉。
- 在爲期六個月的時間內，公司也實現了銷售額增長13.3%，顯示出營業收入在年度上有整體改善。
- 與Feit Electric Company簽訂資產購買協議的公告可能表明有戰略性增長機會，待股東批准。
Potential Negatives
潛在負面影響
- 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.
- 公司預計最近的銷售增長和淨利潤水平不會在接下來的季度繼續，表明未來可能存在財務不穩定性。
- 向一個國家的零售連鎖店進行重大銷售可能表明公司對銷售的主要部分依賴於單一客戶，如果這種關係發生變化可能帶來風險。
- 公司報告的累計虧損爲781萬1171美元，表明儘管最近取得收益，仍面臨持續的財務挑戰。
FAQ
FAQ
What were Universal Security Instruments' sales figures for the second quarter of 2024?
通用安全儀器在2024年第二季度的銷售額是多少？
Sales increased 93.8% to $7,203,269 compared to $3,717,455 for the same period last year.
銷售額增長93.8%，達到720萬3269美元，而去年同期爲371萬7455美元。
How did the company's net income change for the most recent quarter?
公司最近一個季度的淨利潤髮生了什麼變化？
The company reported net income of $576,978, a significant turnaround from a net loss of $186,425 last year.
該公司報告淨利潤爲576,978美元，較上年的淨虧損186,425美元有了顯著的好轉。
What prompted the sales increase for Universal Security Instruments?
什麼促使通用安全儀器的銷售增加?
Sales to a national retail chain contributed approximately $3,541,000 to the increased sales for the quarter.
銷售給一個全國性零售連鎖店對本季度銷售額的增長貢獻了大約3,541,000美元。
What future plans were mentioned in the press release?
新聞稿中提到了哪些未來計劃?
The company anticipates the closing of an Asset Purchase Agreement with Feit Electric Company, expected in early 2025.
公司預計將於2025年初與Feit Electric Company簽訂資產購買協議。
When was Universal Security Instruments founded?
通用安全儀器是什麼時候成立的?
The company was founded in 1969, boasting over 55 years of experience in safety and security devices.
該公司成立於1969年，擁有超過55年的安全設備和安防設備經驗。
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.
免責聲明：這是由GlobeNewswire分發的新聞稿的人工智能生成摘要。用於總結這份稿件的模型可能會出錯。請在這裏查看完整發布。
Full Release
全面發佈
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.
馬里蘭州歐因斯米爾斯，2024年11月19日 (全球新聞社) -- 通用安全儀器公司 (紐交所 AMEX: UUU) 今日宣佈截至2024年9月30日的財政第二季度和六個月的業績結果。
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日的三個月，銷售額增長93.8%，達到7203269美元，相比去年同期的銷售額3717455美元。公司報告淨利潤達576978美元，每股基本和攤薄0.25美元，而去年同期淨損失爲186425美元，每股基本和攤薄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日的六個月，銷售額增長13.3%，達到11801785美元，相比去年同期的銷售額10416266美元。公司報告淨利潤爲134772美元，每股基本和攤薄0.06美元，而去年同期淨損失爲21295美元，每股基本和攤薄0.01美元。2024年9月30日結束季度的業績中，向一家全國零售連鎖公司銷售額約3541000美元。公司預計這種銷售和淨利潤水平不會在接下來的季度持續。
"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.
「正如先前報道的，2024年10月29日，公司與其全資子公司和加利福尼亞州公司菲特電氣公司簽署了資產購買協議。公司預計在股東批准和預計將於2025年第一季度結束的資產購買協議完成之前將繼續正常業務，」首席執行官哈維·格羅斯布拉特表示。
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
.
通用安全儀器公司是一家總部位於美國的安全設備製造商和分銷商。成立於1969年，公司擁有超過55年的開發創新易於安裝產品的傳統，包括煙霧、火災和一氧化碳報警器。有關通用安全儀器的更多信息，請訪問我們的網站。
.
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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《私人證券訴訟改革法案》下的"免責"聲明:本資訊發佈中討論的某些事項可能構成聯邦證券法義務範圍內的前瞻性陳述，這些陳述固有地包括某些風險和不確定性。 由於許多因素，包括但不限於貨幣波動，當前和未來影響我們的法律和政府法規的影響以及其他因素，實際結果可能與前瞻性陳述中預測或考慮的結果大不相同，這些因素可能會被不時地在我們的證券交易委員會申報和其他公告中辨認。 我們不承諾並明確否認更新任何前瞻性陳述以反映預期或意外事件或情況發生後此類聲明的日期。 我們將不時調整我們的展望，且通常不會公開披露這些修訂。
|
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 |
||||
|
通用安全儀器, Inc. 216.7 (未經審計) | |||||||
|
截至三個月 9月30日, |
|||||||
|
2024 |
2023 |
||||||
|
銷售額 |
$ |
7,203,269 |
|
$ |
3,717,455 |
||
|
淨利潤（損失） |
576,978 |
|
(186,425 ) |
||||
|
每股收益（虧損）： |
|||||||
|
基本和攤薄 |
$ |
0.25 |
|
$ |
(0.08 ) |
||
|
普通股平均流通股數： |
|
|
|||||
|
基本和攤薄 |
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 |
||||
|
截至六個月結束 9月30日, |
|||||||
|
2024 |
2023 |
||||||
|
銷售額 |
$ |
11,801,785 |
|
$ |
10,416,226 |
||
|
淨利潤（損失） |
134,772 |
|
(21,295 ) |
||||
|
每股收益（虧損）： |
|||||||
|
基本和攤薄 |
$ |
0.06 |
|
$ |
(0.01 ) |
||
|
普通股平均流通股數： |
|
|
|||||
|
基本和攤薄 |
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 |
|||
|
簡明合併資產負債表 (未經審計) | |||||||
|
資產 |
|||||||
|
2024年9月30日 |
2023年9月30日 |
||||||
|
現金 |
$ |
234,199 |
$ |
254,818 |
|||
|
|
|
||||||
|
應收賬款和向保理公司的應收款項 |
6,460,368 |
3,130,458 |
|||||
|
存貨 |
5,980,798 |
4,968,433 |
|||||
|
預付費用 |
152,429 |
365,630 |
|||||
|
總流動資產 |
12,827,794 |
8,719,339 |
|||||
|
資產、設備和無形資產-淨額 |
108,892 |
276,043 |
|||||
|
其他資產 |
- |
- |
|||||
|
資產總計 |
$ |
12,936,686 |
$ |
8,995,382 |
|||
|
負債和股東權益 |
|||||||
|
信用額度-因素。 |
$ |
4,216,134 |
$ |
912,147 |
|||
|
經營租賃負債的短期部分 |
93,065 |
154,969 |
|||||
|
應付賬款 |
3,064,147 |
1,990,116 |
|||||
|
應計負債 |
465,541 |
507,563 |
|||||
|
流動負債合計 |
7,838,887 |
3,564,795 |
|||||
|
|
|
||||||
|
經營租賃負債的長期部分 |
- |
93,065 |
|||||
|
總長期負債 |
- |
93,065 |
|||||
|
股東權益: |
|||||||
|
普通股，每股面值$0.01；授權20,000,000股；2024年和2023年9月30日已發行並流通2,312,887股 |
23,129 |
23,129 |
|||||
|
追加實收資本 |
12,885,841 |
12,885,841 |
|||||
|
累計赤字 |
(7,811,171 ) |
(7,571,448 ) |
|||||
|
股東的權益總額 |
5,097,799 |
5,337,522 |
|||||
|
資產負債合計 |
$ |
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
聯繫人：Harvey Grossblatt，首席執行官
通用安全儀器公司
(410) 363-3000，分機224
or
Zachary Mizener
Lambert & Co.
(315) 529-2348
