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

Rhea-AI Summary

Chicago Rivet & Machine Co. (CVR) reports third quarter 2023 results, showing a decrease in net sales to $7,946,172 from $8,567,785 in 2022. The company also experienced a net loss of $964,042 compared to a net income of $3,579,060 in the same period last year. Income before income taxes also decreased from $4,621,060 to a loss of $1,215,042.

Positive

• The company's net sales for the third quarter of 2023 decreased by 7.3% compared to the same period in 2022.
• The net loss of $964,042 in the third quarter of 2023 represents a significant decrease from the net income of $3,579,060 in the same period last year.
• The average common shares outstanding remained consistent at 966,132 for both 2023 and 2022.

Negative

• None.

NAPERVILLE, Ill., Nov. 7, 2023 /PRNewswire/ -- Chicago Rivet & Machine Co. (NYSE American: CVR) today announced results for the third quarter of 2023 as summarized below:

CHICAGO RIVET & MACHINE CO. Summary of Consolidated Results of Operations For the Three and Nine Months Ended September 30
	Third Quarter		First Nine Months
	2023	2022	2023	2022
Net sales	$7,946,172	$8,567,785	$24,726,828	$26,788,879
Income (loss) before income taxes	(1,215,042)	4,621,060	(3,617,685)	5,386,277
Net income (loss)	(964,042)	3,579,060	(2,858,685)	4,180,277
Net income (loss) per common share	(1.00)	3.71	(2.96)	4.33
Average common shares outstanding	966,132	966,132	966,132	966,132
(All figures subject to year-end audit)

 

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SOURCE Chicago Rivet & Machine Co.

FAQ

What are the net sales for Chicago Rivet & Machine Co. (CVR) in the third quarter of 2023?

The net sales for the third quarter of 2023 were $7,946,172.

Did Chicago Rivet & Machine Co. (CVR) experience a net loss or net income in the third quarter of 2023?

The company experienced a net loss of $964,042 in the third quarter of 2023.

How did the income before income taxes compare between the third quarter of 2023 and 2022 for Chicago Rivet & Machine Co. (CVR)?

The income before income taxes decreased from $4,621,060 in 2022 to a loss of $1,215,042 in the third quarter of 2023.