KIMBALL, NE / ACCESSWIRE / August 19, 2014 / George Risk Industries, Inc., (OTCQB: RSKIA) a leading manufacturer of products in the security industry, completed its fiscal year ending April 30, 2014 with a net profit of 28.31% of net sales. Net sales were $11,025,000, up 4.9% over the previous year. The increase in sales is a result of continued quality service and a price increase implemented in January 2014. Net income for the fiscal year ended April 30, 2014 was $3,122,000, up 14.74% from the prior year, which produced a net gain of $2,721,000. Earnings per common share at April 30, 2014 were $0.62 per share. EPS for the year ended April 30, 2013 were $0.54 per share.
Management is very pleased with the fiscal year end results and expects sales to remain steady for the fiscal year ending April 30, 2015. The company's main division of products sold – security switches – are directly tied to the housing industry. As the housing industry's performance has improved, the company's sales have also improved in relation to the economy. Research and development of new products are essential for the company's sales increases. New release dates for anticipated new products that did not get successfully launched in fiscal year 2014 are forthcoming. Our engineering department continues to develop enhancements to our existing products as well as to develop new products that will continue to secure our position in the industry.
New product development is focused on wireless technology that can be applied to some of our current products. We are working on a wireless version of our Pool Alarm that will allow easy installation in new and existing construction. We are concentrating on making products compatible with the increasing popular Z-Wave standard for wireless home automation. Our redesigned triple biased high security switch is near completion and an adjustable magnet design was completed for recessed mounting applications. New molding enhancements are in process for new versions of our Current Controller and other products. This will allow the end user to control more lights with a single controller or to handle higher voltage applications for use overseas. Research continues on the possibilities of fuel level sensing and how that may serve other agricultural based needs. Worldwide companies are looking for ways to secure fuel tanks and trucks. Our emphasis would be in ways to safely monitor fuel levels and report tampering.
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 wire cover, and hydro sensors. The company has representation in the United States, Canada, Asia, and EMEA (Europe, the Middle East and Africa).
Stephanie M. Risk-McElroy, President / CEO / CFO
SOURCE: George Risk Industries, Inc.