Rochester, NY 9/1/2009 1:47:59 PM
Universal Security Instruments Inc., UUU, Up 2.36% so far Monday
Universal Security Instruments Inc.
Universal Security Instruments, Inc. today announced results for its fiscal first quarter ended June 30, 2009.
Results for the first quarter of 2009 include an increase in the Company's Hong Kong Joint Venture earnings of $428,335. Included in this increase is the recognition by the Company of a $246,180 gain on intercompany sales of inventory from prior periods which, in accordance with GAAP, may only be recognized as income upon sales by the Company to customers, and a gain on currency holdings of $117,050. Included in last year's results was a charge of $53,659 from discontinued operations.
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Last Trade: 5.6297
Day's Range: 5.58 - 5.64
52wk Range: 1.45 - 6.50
Change: Up 0.1297 (2.36%)
Volume: 1,400
Avg Vol (3m): 4,780
ABOUT Universal Security Instruments, Inc.
Universal Security Instruments, Inc., together with its subsidiaries, designs and markets various safety products in the United States. Its products primarily include smoke alarms, carbon monoxide alarms, and related products. The company markets residential smoke alarms, such as battery, electrical, and electrical with battery backup alarms under the USI Electric and UNIVERSAL names. Its smoke alarms also include hearing impaired and heat alarms. The company also markets outdoor floodlights under the name Lite Aide; and carbon monoxide alarms, door chimes, and ventilation products. Universal Security Instruments also holds a 50% interest in the Hong Kong Joint Venture that manufactures certain of its electronic and electrical products.
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