KIMBALL, NE / ACCESSWIRE / September 20, 2017 / GEORGE RISK INDUSTRIES, INC. (OTC PINK: RSKIA), a diversified and leading American manufacturer of a wide variety of products in the security industry, recorded net sales for the quarter ended July 31, 2017 to be $2,248,000. Net sales for the quarter ended July 31, 2016 were $2,666,000. Net income for the quarter ended July 31, 2017 was $518,000, as compared to $567,000 for the corresponding quarter ending July 31, 2016. Earnings per share for the quarter ended July 31, 2017 was $0.10 per common share and $0.11 per common share for the quarter ended July 31, 2016.
Despite the decrease in sales for the first quarter, management is hopeful that sales will remain steady for the current fiscal year. Implementation of new software created production impediments and increased industry competition is an evident concern. However, to offset the slide in sales, our investments have had sound returns. New products that are scheduled to enter the marketplace by the end of the calendar year, along with our noted customer service, will help keep us on the path for growth. Also, continued education on the new computer software is fostering management's ability to run more proficiently and profitably. As always, we continue to sell, manufacture, and expedite our quality American made products worldwide. George Risk Industries, Inc. is proud to be made in the U.S.A. and to contribute to the American workforce.
Heavy concentration on wireless technology is our main area of emphasis for product development. A wireless contact switch is in the final stages of development. Wireless versions of our Pool Alarms and environment sensors that are easily installed in current construction are works in progress. We are also focusing on making products compatible with Wi-Fi, smartphone technology and Z-Wave standard for wireless home automation.
At George Risk Industries, Inc.'s latest Board of Directors meeting on September 20, 2017, a dividend of $0.36 per common share was declared. This dividend will be paid to stockholders of record as of September 30, 2017, and be paid out by October 31, 2017.
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 the EMEA (Europe, the Middle East, and Africa).
CONTACT:
STEPHANIE M. RISK-McELROY, PRESIDENT/CEO/CFO
308-235-4645
800-523-1223
SOURCE: George Risk Industries, Inc.