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

Rhea-AI Summary

Chicago Rivet & Machine Co. (CVR) reported financial results for Q3 2022, showcasing net sales of $8.57 million, a slight increase from $8.56 million in Q3 2021. The company generated $4.62 million in income before taxes, significantly up from $207,659 the previous year. Net income rose to $3.58 million, compared to $172,659 in Q3 2021, yielding a net income per share of $3.71. Year-to-date, sales totaled $26.79 million, up from $26.23 million in 2021, while net income for the nine months reached $4.18 million.

Positive

• Net sales increased to $8.57 million in Q3 2022 from $8.56 million in Q3 2021.
• Income before income taxes surged to $4.62 million, up from $207,659 in Q3 2021.
• Net income rose to $3.58 million, a significant increase from $172,659 in Q3 2021.
• Net income per share improved to $3.71 compared to $0.18 in Q3 2021.
• Year-to-date sales reached $26.79 million, an increase from $26.23 million in the same period last year.

Negative

• None.

NAPERVILLE, Ill., Nov. 8, 2022 /PRNewswire/ -- Chicago Rivet & Machine Co. (NYSE American: CVR) today announced results for the third quarter of 2022 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
	2022	2021	2022	2021
Net sales	$8,567,785	$8,555,731	$26,788,879	$26,225,070
Income before income taxes	4,621,060	207,659	5,386,277	1,304,294
Net income	3,579,060	172,659	4,180,277	1,032,294
Net income per common share	3.71	.18	4.33	1.07
Average common shares outstanding	966,132	966,132	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-third-quarter-results-of-operations-301671982.html

SOURCE Chicago Rivet & Machine Co.

FAQ

What were the net sales for Chicago Rivet (CVR) in Q3 2022?

In Q3 2022, Chicago Rivet reported net sales of $8.57 million.

How did Chicago Rivet's net income change in Q3 2022?

Chicago Rivet's net income increased to $3.58 million in Q3 2022 from $172,659 in Q3 2021.

What is the net income per share for Chicago Rivet (CVR) for Q3 2022?

The net income per share for Chicago Rivet in Q3 2022 was $3.71.

What were the year-to-date sales figures for Chicago Rivet (CVR) as of Q3 2022?

Year-to-date sales for Chicago Rivet as of Q3 2022 were $26.79 million.

How did income before taxes perform for Chicago Rivet (CVR) in Q3 2022?

Income before taxes for Chicago Rivet in Q3 2022 was $4.62 million, up from $207,659 in Q3 2021.