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Compx International Inc. (CIX) is a diversified manufacturer specializing in high-quality security products and marine components, serving a wide array of industries. Headquartered in the United States, the company operates two primary business segments: Security Products and Marine Components. These segments cater to industries including recreational transportation, postal services, office and institutional furniture, cabinetry, tool storage, healthcare, and the recreational marine sector.
Security Products Segment
The Security Products segment is the cornerstone of Compx’s operations, generating the majority of the company’s revenue. This segment focuses on the design and production of mechanical and electrical cabinet locks, locking mechanisms, and other security solutions. These products are integral to ensuring safety and functionality in various applications, from office furniture and healthcare equipment to tool storage and postal services. By offering both mechanical and electronic solutions, Compx demonstrates its ability to adapt to evolving technological demands and customer preferences. The company’s expertise in precision manufacturing and quality assurance ensures its products meet stringent industry standards, making it a trusted partner for businesses across multiple sectors.
Marine Components Segment
The Marine Components segment complements Compx’s portfolio by catering to the recreational marine industry. This division manufactures stainless steel exhaust systems, throttle controls, gauges, and trim tabs, which are critical components for high-performance marine vessels. Known for their durability and reliability, these products are designed to withstand the harsh marine environment, reflecting Compx’s commitment to quality and innovation. This segment serves a niche market, providing specialized solutions that meet the unique needs of marine manufacturers and enthusiasts.
Geographical Reach and Market Strategy
Compx International Inc. operates primarily in the United States, which accounts for the vast majority of its revenue. The company also serves customers in Canada, Mexico, and other regions, reflecting a North American-centric market strategy. Its focus on regional markets allows it to maintain close relationships with customers and respond effectively to market demands. By leveraging its manufacturing expertise and operational efficiency, Compx has established a strong foothold in its core markets.
Industry Context and Competitive Positioning
Operating in the highly competitive manufacturing sector, Compx differentiates itself through its commitment to quality, innovation, and customer trust. The company’s ability to produce specialized products tailored to specific industry needs sets it apart from larger, more generalized manufacturers. Additionally, its dual focus on security and marine components allows it to mitigate risks associated with market fluctuations in any single industry. Challenges such as cost management, technological advancements, and competition are addressed through continuous investment in product development and operational efficiency.
Value Proposition
Compx’s primary value proposition lies in its ability to deliver reliable, high-performance products that meet the diverse needs of its customers. Whether it’s securing valuable assets with advanced locking mechanisms or enhancing marine vessel performance with durable components, the company’s products are designed to provide long-term value. This focus on quality and customer satisfaction has solidified Compx’s reputation as a trusted manufacturer in its chosen markets.
In summary, Compx International Inc. is a well-established player in the manufacturing sector, offering a diverse range of products that serve critical functions across multiple industries. Its expertise in security solutions and marine components, combined with its strong market presence in North America, positions it as a reliable and innovative partner for businesses and consumers alike.
CompX International announced a special cash dividend of $1.75 per share on its class A common stock, payable on August 30, 2022. Stockholders of record by the close of business on August 22, 2022 will receive this dividend. This follows a previously declared regular quarterly cash dividend of $0.25, payable on September 13, 2022. The company maintains a strong balance sheet and cash flow, allowing for shareholder returns while ensuring continued investment in business growth.
CompX International Inc. (NYSE American: CIX) has declared a quarterly dividend of $0.25 per share on its class A common stock. This dividend is scheduled to be paid on September 13, 2022, to stockholders of record as of the close of business on September 1, 2022.
CompX specializes in manufacturing security products and recreational marine components.
CompX International Inc. (CIX) reported a rise in sales for Q2 2022, reaching $41.6 million, up from $36.3 million in Q2 2021. Operating income also increased to $7.7 million from $5.8 million, while net income rose to $6.2 million or $0.50 per share, compared to $4.6 million or $0.37 in the prior year. For the first half of 2022, sales were $83.7 million, compared to $72.2 million in 2021. Increased sales from Marine Components and Security Products were noted, though higher production costs impacted margins.
CompX International (CIX) declared a regular quarterly dividend of $0.25 per share on May 25, 2022, payable on June 14, 2022, to stockholders of record by June 6, 2022. At the same annual stockholder meeting, directors were elected for a one-year term, and stockholders approved the executive compensation package. The board expanded from seven to nine members, electing Kevin B. Kramer and Michael S. Simmons to fill the new positions, with Kramer appointed to the audit committee. CompX specializes in security products and marine components.
CompX International reported a strong financial performance for Q1 2022, achieving $42.1 million in sales, up from $35.9 million in Q1 2021. Operating income rose to $6.3 million, compared to $5.8 million in the prior year. Net income increased to $5.0 million or $0.40 per share, up from $4.7 million or $0.38 per share. Growth was driven by higher sales in Security Products and Marine Components, despite increased production costs.
CompX International has announced a $0.05 increase in its quarterly dividend, raising it to $0.25 per share. This dividend is payable on March 22, 2022, to stockholders recorded by the close of business on March 14, 2022. CompX, a renowned manufacturer of security products and recreational marine components, demonstrates its ongoing commitment to returning value to shareholders.
CompX International reported $34.1 million in fourth-quarter sales for 2021, up from $30.0 million in 2020. Operating income rose to $3.8 million, with net income at $3.2 million or $0.25 per diluted share, compared to $2.3 million or $0.17 in Q4 2020. For the full year 2021, net sales increased to $140.8 million, with net income reaching $16.6 million or $1.34 per diluted share. Sales growth was driven by higher demand in the security products sector, particularly from government markets.
In Q3 2021, CompX International (CIX) reported sales of $34.5 million, up from $28.4 million in Q3 2020. Operating income rose to $5.1 million from $2.1 million year-over-year, while net income reached $4.1 million ($0.33 per diluted share) compared to $1.8 million ($0.15 per diluted share) in Q3 2020. For the first nine months of 2021, sales were $106.7 million, an increase from $84.5 million. The growth was attributed to higher demand in Security Products and Marine Components, rebounding from pandemic-related disruptions.
CompX International (CIX) has declared a quarterly dividend of $0.20 per share on its class A common stock. This dividend is payable on December 14, 2021, to stockholders of record by December 2, 2021. As a leading manufacturer of security products and recreational marine components, CompX continues to showcase its commitment to returning value to its shareholders.
CompX International Inc. (CIX) has declared a quarterly dividend of $0.20 per share on its class A common stock. This dividend is scheduled to be paid on September 14, 2021, to stockholders of record as of September 2, 2021. CompX is recognized as a key manufacturer of security products and recreational marine components.
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