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

Rhea-AI Summary

Chicago Rivet & Machine Co. (CVR) reported its third quarter 2021 results, showing net sales of $8.56 million, up from $7.65 million in Q3 2020. For the first nine months, net sales rose to $26.23 million from $19.33 million. However, the company faced a net income loss of $172,659 in Q3 2021 compared to a profit of $309,135 in Q3 2020. Year-to-date, net income was $1.03 million, a recovery from a loss of $413,813 in 2020. Earnings per share decreased to $0.18 from $0.32 year-over-year.

Positive

• Net sales increased to $8.56 million in Q3 2021, up from $7.65 million in Q3 2020.
• Year-to-date net sales rose to $26.23 million from $19.33 million.
• Net income for the first nine months of 2021 improved to $1.03 million compared to a loss of $413,813 in 2020.

Negative

• Net income for Q3 2021 was a loss of $172,659, down from a profit of $309,135 in Q3 2020.
• Earnings per share decreased to $0.18 from $0.32, indicating a decline in profitability.

NAPERVILLE, Ill., Nov. 9, 2021 /PRNewswire/ -- Chicago Rivet & Machine Co. (NYSE American: CVR) today announced results for the third quarter of 2021 as summarized below:

CHICAGO RIVET & MACHINE CO. Summary of Consolidated Results of Operations For the Three and Nine Months Ended September 30
	Third Quarter		First Nine Months
	2021	2020	2021	2020
Net sales	$8,555,731	$7,645,259	$26,225,070	$19,325,234
Income (loss) before income taxes	207,659	414,135	1,304,294	(614,813)
Net income (loss)	172,659	309,135	1,032,294	(413,813)
Net income (loss) per common share	.18	.32	1.07	(.43)
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 the Q3 2021 net sales for CVR?

CVR reported net sales of $8.56 million for Q3 2021.

How did CVR's net income change in Q3 2021?

CVR had a net income loss of $172,659 in Q3 2021, compared to a profit of $309,135 in Q3 2020.

What is CVR's year-to-date net income for 2021?

For the first nine months of 2021, CVR reported a net income of $1.03 million.

How did CVR's earnings per share change in Q3 2021?

Earnings per share dropped to $0.18 in Q3 2021, down from $0.32 in Q3 2020.