KIMBALL, NE / ACCESSWIRE / March 18, 2014 / George Risk Industries, Inc. (OTCQB:RSKIA) a leading manufacturer of products in the security industry, presented net sales for the quarter ended January 31, 2014, to be $2,480,000, which is a 2.78% decrease from the corresponding quarter last year. However, year-to-date net sales at January 31, 2014 were $8,070,000, which is a 5.32% increase from the same period last year. Net income for the quarter ended January 31, 2014 was at $427,000 as compared to $790,000 for the corresponding quarter last year. Net income for the nine months ended January 31, 2014 was $2,451,000, a 34.74% increase from the same period last year. Net income for the nine months ended January 31, 2013 was $1,819,000. Earnings per common share for the quarter ended January 31, 2014 was $0.08 per share and $0.49 per share for the year-to date numbers. EPS for the quarter and nine months ended January 31, 2013 was $0.16 per share and $0.36 per share respectively.
Mold changes are nearing completion on our redesigned pool alarm. Molding is also working on a CC-15 case for our Current Controller. This will allow us to manufacture a 15-amp version that can automatically turn on a whole room of lights and a 220-volt version for international markets. A cover for our 29-Series terminal switch is being developed and is in the design stage.
Engineering continues working on a Sprinkler Controller. This is a ground sensor that can be installed with a sprinkler system and would monitor the amount of water in the soil. It would prevent the sprinkler system from watering if the soil has enough moisture. Wireless pool alarms, wireless switches and sensors continue to be developed. Management is working with a consultant who is helping with the development of a wireless pool alarm.
Management has also been researching a fuel level monitor. Several security companies from around the world have told us fuel theft is a major problem. They are looking for a product to tie into their security system to alert them if their fuel tanks or trucks are tampered with.
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.
Stephanie M. Risk-McElroy, President/CEO/CFO
SOURCE: George Risk Industries, Inc.