USEC..4.40/4.80...here is last year...this price has a ways to go yet...now at 4.40/4.80:
USEC LAST YEAR....then this year's 1st qtr out today follows...company is kicking ass and taking names:
B: UNIVERSAL SECURITY INSTRUMENTS, INC. Announces Fourth Quarte
B: UNIVERSAL SECURITY INSTRUMENTS, INC. Announces Fourth Quarter Sales Surge
84% -- Earnings Rise to $0.14 Per Share and Year End Results
OWINGS MILLS, Md., Jun 17, 2002 (BUSINESS WIRE) -- UNIVERSAL SECURITY
INSTRUMENTS, INC. (OTC:USEC) announced results for its fourth quarter and fiscal
year ended March 31, 2002.
For the three months ended March 31, 2002, the Company said sales rose 84% to
$2,606,831, compared to sales of $1,417,841 for the same period last year. The
Company reported net income of $139,290, or $0.14 per basic and $0.13 per
diluted share, compared to a net loss of ($600,633), or a loss of ($0.66) per
basic and diluted share, last year.
For its fiscal year ended March 31, 2002, sales rose 36% to $10,480,829,
compared to sales of $7,731,501 for the same period last year. The Company
reported net income of $261,625, or $0.28 per basic and diluted share, compared
to a net loss of ($758,940), or a loss of ($0.83) per basic and diluted share,
last year.
Earnings for the fiscal year ended March 31, 2002 were the highest they have
been in 10 years. UNIVERSAL said it was very pleased with its results and is
looking for continued improvements in its first quarter ending June 30, 2002.
On June 6, 2002, the Company was very pleased to receive approval from
Underwriters Laboratories for listing of its new carbon monoxide alarm. Demand
for these lifesaving devices is expanding as a growing number of state and local
municipalities are requiring both smoke alarms and carbon monoxide alarms in new
home construction. These products will further increase the Company's sales and
profitability.
UNIVERSAL SECURITY INSTRUMENTS, INC., founded in 1970, is a Maryland-based
manufacturer and world-wide marketer of safety and security products directly
and through its 50%-owned Hong Kong joint venture.
UNIVERSAL SECURITY INSTRUMENTS, INC.
ANNOUNCES RESULTS FOR THE
FOURTH QUARTER ENDED MARCH 31:
UNAUDITED
2002 2001
--------------- ----------------
Sales $2,606,831 $1,417,841
Net income (loss)(a) 139,290 (600,633)
Income (loss) per share:
Basic .14 ( .66)
Diluted .13 ( .66)
Weighted average number of
common shares outstanding:
Basic 999,562 912,270
Diluted 1,055,769 912,270
RESULTS FOR THE FISCAL YEAR ENDED MARCH 31:
-------------------------------------------
AUDITED
2002 2001
--------------- ----------------
Sales $10,480,829 $7,731,501
Net income (loss)(a) 261,625 (758,940)
Income (loss) per share:
Basic .28 (.83)
Diluted .28 (.83)
Weighted average number of
common shares outstanding:
Basic 938,624 912,270
Diluted 945,770
912,270
This year 1st qtr out today:
B: Universal Security Instruments Posts Sharply Higher Sales &
B: Universal Security Instruments Posts Sharply Higher Sales & Earnings Sales
Grow 66%; Earnings Rise to $0.57 Per Share Vs. $0.07
OWINGS MILLS, Md., Aug 6, 2002 /PRNewswire-FirstCall via COMTEX/ -- Powered by
continuing market-share gains and strong performance by its Hong Kong joint
venture, Universal Security Instruments, Inc. (OTC Bulletin Board: USEC) today
announced significantly higher sales and earnings for its first quarter ended
June 30, 2002.
The Owings Mills, Md.-based designer and marketer of safety and security
equipment posted net earnings of $576,940, or $0.57 per basic share ($0.55 per
diluted share), on net sales of $3,750,926, compared with net earnings of
$62,359, or $0.07 per basic and diluted share, on net sales of $2,255,130 for
last year's first quarter.
"Our first-quarter results were among the best in our history and reflect our
success in gaining market share in both the retail and wholesale markets, as
well as our ability to increase our operating efficiency and leverage our Hong
Kong joint venture," said Steve Knepper, chairman of the board and chief
executive officer of Universal Security Instruments. "New customer orders were
very strong during the period. We also continue to experience excellent
performance internationally, thanks in large part to efforts with our joint
venture partner which have helped generate gains across Europe and elsewhere."
Knepper added that Universal's gross margins increased 18%, from 24% to 29% of
sales, reflecting increased productivity and efficiency across the Company.
"Moving forward, we are very enthusiastic about our new line of carbon monoxide
alarms debuting this week at the National Hardware Show in Chicago. We believe
this line will be an important contributor as we continue to focus on our core
strategy of building market share and accelerating the development and
introduction of new products," he said.
UNIVERSAL SECURITY INSTRUMENTS, INC., founded in 1970, is a Maryland-based
manufacturer and worldwide marketer of safety and security products directly and
through its 50%-owned Hong Kong joint venture.
Statements contained in this press release that are not historical facts are
forward-looking statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Although UNIVERSAL SECURITY INSTRUMENTS, INC.
believes that the expectations reflected in such forward- looking statements are
reasonable; the forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially from those
projections.
UNIVERSAL SECURITY INSTRUMENTS, INC.
CONSOLIDATED STATEMENT OF INCOME
(UNAUDITED)
First Quarter Ended June 30,
2002 2001
Sales $3,750,926 $2,255,130
Net income* 576,940 62,359
Income per share
Basic .57 .07
Diluted .55 .07
Weighted average number of common
shares outstanding
Basic 1,014,770 912,270
Diluted 1,057,976 926,333 |
