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

Rhea-AI Summary

Chicago Rivet & Machine Co. (CVR) reported a significant increase in its first quarter results for 2021. Net sales rose to $9,304,949 from $7,576,455 in 2020. Income before taxes also saw a dramatic increase to $690,128, compared to $71,568 in the previous year. Net income reached $540,128, resulting in a net income per share of $0.56 versus $0.06 in 2020. Average shares outstanding remained stable at 966,132.

Positive

• Net sales increased by 23% from $7,576,455 in Q1 2020 to $9,304,949 in Q1 2021.
• Income before taxes surged to $690,128, up from $71,568 year-over-year.
• Net income rose from $56,568 in Q1 2020 to $540,128 in Q1 2021.
• Net income per common share improved significantly from $0.06 to $0.56.

Negative

• None.

NAPERVILLE, Ill., May 7, 2021 /PRNewswire/ -- Chicago Rivet & Machine Co. (NYSE American: CVR) today announced results for the first quarter of 2021 as summarized below:

CHICAGO RIVET & MACHINE CO. Summary of Consolidated Results of Operations For the Three Months Ended March 31
	2021	2020
Net sales	$9,304,949	$7,576,455
Income before income taxes	690,128	71,568
Net income	540,128	56,568
Net income per common share	.56	.06
Average common shares outstanding	966,132	966,132

 (All figures subject to year-end audit)

 

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SOURCE Chicago Rivet & Machine Co.

FAQ

What were the first quarter 2021 net sales for Chicago Rivet & Machine Co. (CVR)?

The net sales for the first quarter of 2021 were $9,304,949.

How much did Chicago Rivet (CVR) earn before taxes in Q1 2021?

Chicago Rivet reported income before taxes of $690,128 in the first quarter of 2021.

What is the net income per share for Chicago Rivet in Q1 2021?

The net income per common share for Chicago Rivet in Q1 2021 was $0.56.

How does the Q1 2021 net income of Chicago Rivet compare to Q1 2020?

The net income in Q1 2021 was $540,128, significantly higher than $56,568 in Q1 2020.