Chicago Rivet & Machine Co. Announces Year-End Earnings

Rhea-AI Summary

Chicago Rivet & Machine Co. (NYSE American: CVR) announced its audited results for the year 2022, reporting a net sales decrease to $33,646,033 from $33,974,558 in 2021. The company achieved an income before income taxes of 3,652,629, up from 1,414,472 the prior year. Net income rose significantly to 2,867,629, compared to 1,113,472 in 2021, resulting in a net income per common share of 2.97 versus 1.15 in 2021. Average common shares outstanding remained stable at 966,132.

Positive

• Net income increased to 2,867,629 from 1,113,472 (157% rise)
• Net income per share rose to 2.97 from 1.15 (158% increase)
• Income before taxes improved to 3,652,629 from 1,414,472 (158% rise)

Negative

• Net sales decreased to 33,646,033 from 33,974,558 (1% decline)

NAPERVILLE, Ill., March 29, 2023 /PRNewswire/ -- Chicago Rivet & Machine Co. (NYSE American: CVR) today announced audited results for the year 2022 as summarized below:

CHICAGO RIVET & MACHINE CO. Summary of Consolidated Results of Operations For the Years Ended December 31
	2022	2021
Net sales	$33,646,033	$33,974,558
Income before income taxes	3,652,629	1,414,472
Net income	2,867,629	1,113,472
Net income per common share	2.97	1.15
Average common shares outstanding	966,132	966,132

 

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SOURCE Chicago Rivet & Machine Co.

FAQ

What were Chicago Rivet's 2022 net sales?

Chicago Rivet reported net sales of $33,646,033 for 2022.

How much did Chicago Rivet earn in 2022?

Chicago Rivet reported a net income of $2,867,629 for the year 2022.

What is the net income per share for Chicago Rivet in 2022?

The net income per share for Chicago Rivet in 2022 was $2.97.

How did Chicago Rivet's income before taxes change in 2022?

Income before income taxes increased to $3,652,629 in 2022 from $1,414,472 in 2021.