Universal Security Instruments Inc. UUU, Market trade up 2.36% at the end of trade session
Universal Security Instruments Inc.
Universal Security Instruments Inc. , MD-based designer and marketer of safety and security equipment reported its net income rose for the quarter to $611,465, or $0.25 per basic and diluted share, from $403,480, or $0.16 per basic and diluted share, for the comparable quarter last year. Sales for its first quarter were $5,914,905 compared to $6,192,801 for last year. 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.
http://StockEinstein.com offers free daily stock alerts on companies ready to run. Scroll to BOTTOM of this page for free stock alerts, or visit our site.
Last Trade: 5.63 Day's Range: 5.50 - 5.64 52wk Range: 1.45 - 6.50 Change: Up 0.13 (2.36%) Volume: 1,400.00 Avg Vol (3m): 6,000.00 About Universal Security Instruments Inc.
Universal Security Instruments, Inc. designs and markets a variety of safety products consisting primarily of smoke alarms, carbon monoxide alarms and related products. Most of the Company’s products require minimal installation and are designed for installation by the consumer without professional assistance, and are sold through retail stores. It also markets products to the electrical distribution trade through its wholly owned subsidiary, USI Electric, Inc. (USI Electric). The electrical distribution trade includes electrical and lighting distributors, as well as manufactured housing companies. Products sold by USI Electric require professional installation. As of March 31, 2009, the Company owned a 50% interest in the Hong Kong Joint Venture. Universal Security Instruments, Inc. imports all of its products from various foreign suppliers. During the fiscal year ended March 31, 2009 (fiscal 2009), approximately 97.3% of its purchases were imported from the Hong Kong Joint Venture.
About Stock Einstein
StockEinstein uses proprietary technologies coupled with years of experience to uncover stocks we feel have the greatest potential for breakout performance. We utilize not only software, but time tested criteria to uncover these potential winners. When these benchmarks are reached or exceeded, our subscribers are immediately notified.
Disclaimer: Full disclaimer at http://StockEinsteain.com/disclaimer.php
IMPORTANT: Never invest in any stock featured in any press release, email or website unless you can afford the loss of your entire investment. Stocks and particularly penny stocks have the possibility for dramatic gains, and also losses. Neither StockEinsteain, nor any of its affiliates are registered investment advisors or broker dealers.
Thank you for your interest in Findit News. A member of the Findit News team will contact you soon to show you how you can take your marketing to the next level with press releases on Findit.
