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.
Insights
Analyzing...
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) | ||
View original content:https://www.prnewswire.com/news-releases/chicago-rivet--machine-co-announces-first-quarter-results-of-operations-301541947.html
SOURCE Chicago Rivet & Machine Co.
FAQ
What are the Q1 2022 results for CVR?
How did CVR's net income change in Q1 2022?
What was the decline in earnings per share for CVR in Q1 2022?
Did CVR maintain the same number of outstanding shares in Q1 2022?
