KIMBALL, NE / ACCESSWIRE / September 18, 2014 / George Risk Industries, Inc., (OTC:RSKIA) a leading manufacturer of products in the security industry, presented net sales for the quarter ended July 31, 2014 to be $2,998,000, an increase of 12.28% from the corresponding quarter last year. Net sales for the quarter ended July 31, 2013 were $2,670,000.
Net income for the quarter ended July 31, 2014 was at $732,000, an 8.6% increase from the corresponding quarter last year, which showed net income of $674,000. Earnings per share for the quarter ended July 31, 2014 were $0.15 per common share and $0.13 per common share for the quarter ended July 31, 2013.
First quarter sales were steady due to the continued growth with our customers as well as some of our distributors' customers attaining jobs that specified GRI security products exclusively. Challenges for the coming months include the burden of regulatory requirements of the Affordable Care Act and implementation of new hardware and software systems that will enhance productivity and communication throughout our organization.
Engineering diligently works to develop enhancements to our current product lines as well as development of new products that complement our existing products. Items currently in the development process include a wireless pool alarm, a high security switch, redesign of our Current Controller, redesign for the cover of the 29-Series terminal switch, twist lock for recessed steel door contacts, including biased for high security and a fuel level monitor.
At George Risk Industries, Inc.'s latest Board of Directors meeting a dividend of $0.32 per common share was declared. This dividend will be paid to stockholders of record as of September 30, 2014 and payable by October 31, 2014.
About George Risk Industries, Inc.
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, and EMEA.
Forward-Looking Information
The information in this release may contain forward-looking statements relating to anticipated or expected events, activities, trends or results. Forward-looking statements, can be identified by the use of forward looking terminology such as "believes," "suggests," "expects," "may," "goal," "estimates," "should," "likelihood," "plans," "targets," "intends," "could," or "anticipates," or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy or objectives. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties. Forward-looking statements in this release include, without limitation, the Company's expectations of continued expansion into oil and gas markets and of our terrestrial broadband networks, along with other performance results. These statements are made to provide the public with management's current assessment of our business, and it should not be assumed that that the forward looking statements will prove to be correct. Security holders are cautioned that such forward-looking statements involve risks and uncertainties. The forward-looking statements contained in this release only as of the date hereof, and we expressly disclaim any obligation or undertaking to report any updates or revisions to any such statement to reflect any change in management's expectations or any change in events, conditions or circumstances on which any such statement is based. Certain factors may cause results to differ materially from those anticipated by some of the statements made in this release.
Contact
Stephanie M. Risk-McElroy, President and Chief Executive Officer
308-235-4645
800-523-1227
SOURCE: George Risk Industries, Inc.