Chicago Rivet & Machine Co. Announces Second Quarter Results of Operations
Chicago Rivet & Machine Co. (NYSE American: CVR) reported Q2 2020 results showing net sales of $4.1 million, down from $8.9 million in Q2 2019. The net loss was $(779,516) or $(0.81) per share, compared to a profit of $229,559 or $0.24 per share last year. For the first six months, net sales totaled $11.7 million, a decline from $17.5 million in 2019, with a net loss of $(722,948) versus a profit of $516,401. The company reported consistent average common shares of 966,132.
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- Net sales decreased from $8.9 million in Q2 2019 to $4.1 million in Q2 2020.
- Net loss of $(779,516) in Q2 2020 compared to a profit of $229,559 in Q2 2019.
- First six months net sales fell from $17.5 million in 2019 to $11.7 million in 2020.
- Net loss of $(722,948) for the first half of 2020 compared to a profit of $516,401 in 2019.
NAPERVILLE, Ill., Aug. 7, 2020 /PRNewswire/ -- Chicago Rivet & Machine Co. (NYSE American: CVR) today announced results for the second quarter of 2020 as summarized below:
CHICAGO RIVET & MACHINE CO. Summary of Consolidated Results of Operations For the Three and Six Months Ended June 30 | ||||
Second Quarter | First Six Months | |||
2020 | 2019 | 2020 | 2019 | |
Net sales | ||||
Income (loss) before income taxes | (1,100,516) | 290,559 | (1,028,948) | 658,401 |
Net income (loss) | (779,516) | 229,559 | (722,948) | 516,401 |
Net income (loss) per common share | (.81) | .24 | (.75) | .54 |
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.
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