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

Rhea-AI Summary

Chicago Rivet & Machine Co. (CVR) reported a strong performance for Q2 2021, with net sales of $8.36 million, up from $4.10 million in Q2 2020. For the first six months, sales reached $17.67 million, compared to $11.68 million last year. The company posted a net income of $319,507 for Q2, reversing a loss of $779,516 in the same quarter of 2020. Income per share increased to $0.33 from a loss of $0.81. Overall, results indicate a return to profitability and significant sales growth year-over-year.

Positive

• Net sales increased from $4.10 million to $8.36 million in Q2 2021.
• Net income of $319,507 in Q2 2021 compared to a loss of $779,516 in Q2 2020.
• Earnings per share improved to $0.33 from a loss of $0.81.

Negative

• None.

NAPERVILLE, Ill., Aug. 11, 2021 /PRNewswire/ -- Chicago Rivet & Machine Co. (NYSE American: CVR) today announced results for the second quarter of 2021 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
	2021	2020	2021	2020
Net sales	$8,364,390	$4,103,520	$17,669,339	$11,679,975
Income (loss) before income taxes	406,507	(1,100,516)	1,096,635	(1,028,948)
Net income (loss)	319,507	(779,516)	859,635	(722,948)
Net income (loss) per common share	.33	(.81)	.89	(.75)
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.

FAQ

What were Chicago Rivet's Q2 2021 net sales?

Chicago Rivet reported net sales of $8.36 million for Q2 2021.

How did Chicago Rivet perform compared to Q2 2020?

In Q2 2020, Chicago Rivet had net sales of $4.10 million, indicating significant growth in 2021.

What was the net income for Chicago Rivet in Q2 2021?

The net income for Chicago Rivet in Q2 2021 was $319,507.

How much did Chicago Rivet earn per share in Q2 2021?

Chicago Rivet earned $0.33 per share in Q2 2021.

What were the total sales for Chicago Rivet in the first six months of 2021?

In the first six months of 2021, Chicago Rivet reported total sales of $17.67 million.