KIMBALL, NE / CRWEPRESSRELEASE / September 16, 2015 /GEORGE RISK INDUSTRIES, INC., (OTCMKTS:RSKIA) a diversified and leading American manufacturer of products in the security industry, recorded net sales for the quarter ended July 31, 2015 to be $2,855,000. Net sales for the quarter ended July 31, 2014 were $2,998,000. Net income for the quarter ended July 31, 2015 was $722,000, as compared to $732,000 for the corresponding quarter ending July 31, 2014. Earnings per share for the quarter ended July 31, 2015 were $0.14 per common share and $0.15 per common share for the quarter ended July 31, 2014.
Continued relations with our customers produced strong sales for the first quarter. Despite the slight decrease in net sales and income over the same period in the prior year, which management believes is due to our industry feeling the downturn in advance of the recent stock market decline, the goal to keep labor and other manufacturing expenses within the range of 45 to 50% continues. The Company is adamant in its pursuit of dealing with vendors that have quality raw materials at the best value.
Current product enhancements and new product development keep the company and its engineering department perpetually busy. Items in development stages include wireless contact switches, wireless pool alarms and environmental sensors, a redesigned pool alarm face plate, a redesigned 15 amp Current Controller that automatically turns on a whole room of lights as well as a 220-volt version for international markets. Also in development is a twist lock for recessed steel door contacts, including biased for high security and fuel level monitors.
At George Risk Industries, Inc. latest Board of Directors meeting held on August 31, 2015, a dividend of $0.34 per common share was declared. This dividend will be paid to stockholders of record as of September 30, 2015 and be paid out by October 31, 2015.
George Risk Industries, Inc. is engaged in the design, manufacture and sales to distributors and OEM manufacturers of custom computer keyboards, push button switches, burglar alarm components, pool alarms, thermostats, E-Z Duct wire cover, and hydro sensors. The company has representation in the United States, Canada, Asia, Australia, and EMEA (Europe, the Middle East and Africa). Our products are installed in high profile locations throughout the world and our quality is noted the world over. George Risk Industries, Inc. is proud to be made in the U.S.A. and to contribute to the American workforce.
Stephanie M. Risk-McElroy
President and Chief Executor Officer
SOURCE: George Risk Industries, Inc.