Chicago Rivet & Machine Co. Announces First Quarter Results of Operations
Chicago Rivet & Machine Co. (NYSE American: CVR) reported its Q1 2022 financial results on May 6, 2022. The company achieved net sales of $9,197,696, a slight decrease from $9,304,949 in Q1 2021. Income before income taxes fell to $570,313 from $690,128 year-over-year. Net income also declined to $447,313, compared to $540,128 in the previous year. Earnings per share decreased from $.56 to $.46.
- Net sales remained relatively stable despite a slight decline.
- Average common shares outstanding remained unchanged at 966,132.
- Net sales decreased by 1.15% year-over-year.
- Income before income taxes dropped by 17.3% compared to Q1 2021.
- Net income fell by 17.2%, indicating declining profitability.
- Earnings per share decreased by 17.9%, reflecting reduced shareholder returns.
NAPERVILLE, Ill., May 6, 2022 /PRNewswire/ --L, May 6, 2022. Chicago Rivet & Machine Co. (NYSE American: CVR) today announced results for the first quarter of 2022 as summarized below:
CHICAGO RIVET & MACHINE CO. Summary of Consolidated Results of Operations For the Three Months Ended March 31 | ||
2022 | 2021 | |
Net sales | ||
Income before income taxes | 570,313 | 690,128 |
Net income | 447,313 | 540,128 |
Net income per common share | .46 | .56 |
Average common shares outstanding | 966,132 | 966,132 |
(All figures subject to year-end audit) | ||
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SOURCE Chicago Rivet & Machine Co.
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