Chicago Rivet & Machine Co. Announces First Quarter Results of Operations

Rhea-AI Summary

Chicago Rivet & Machine Co. announces first quarter results of operations

Positive

• Net sales for the first quarter of 2023 were $8,729,725, a decrease of 5% compared to the same period last year. The company reported a net loss of $583,137, compared to a net income of $447,313 in the first quarter of 2022.

Negative

• The company experienced a decrease in net sales and reported a net loss for the first quarter of 2023.

NAPERVILLE, Ill., May 8, 2023 /PRNewswire/ -- Chicago Rivet & Machine Co. (NYSE American: CVR) today announced results for the first quarter of 2023 as summarized below:

CHICAGO RIVET & MACHINE CO. Summary of Consolidated Results of Operations For the Three Months Ended March 31
	2023	2022
Net sales	$8,729,725	$9,197,696
Income (loss) before income taxes	(737,137)	570,313
Net income (loss)	(583,137)	447,313
Net income (loss) per common share	(.60)	.46
Average common shares outstanding	966,132	966,132
(All figures subject to year-end audit)

 

View original content:https://www.prnewswire.com/news-releases/chicago-rivet--machine-co-announces-first-quarter-results-of-operations-301818705.html

SOURCE Chicago Rivet & Machine Co.

FAQ

What were the net sales for the first quarter of 2023?

The net sales for the first quarter of 2023 were $8,729,725.

What was the net income for the first quarter of 2022?

The net income for the first quarter of 2022 was $447,313.

Did the company experience a profit or loss in the first quarter of 2023?

The company reported a net loss of $583,137 in the first quarter of 2023.