Chicago Rivet & Machine Co. Announces Year-End Earnings

Rhea-AI Summary

Chicago Rivet & Machine Co. (CVR) reported its audited results for 2021, showcasing significant growth. The company achieved net sales of $33.97 million, up from $27.59 million in 2020. Notably, net income surged to $1.11 million compared to $50,450 the previous year, resulting in a net income per share of $1.15, up from $0.05. The average common shares outstanding remained stable at 966,132. This performance indicates a robust recovery and enhanced profitability for CVR.

Positive

• Net sales increased by 23% from $27.59 million (2020) to $33.97 million (2021).
• Net income rose to $1.11 million in 2021, compared to $50,450 in 2020.
• Net income per share improved significantly from $0.05 to $1.15.

Negative

• None.

NAPERVILLE, Ill., March 21, 2022 /PRNewswire/ -- Chicago Rivet & Machine Co. (NYSE American: CVR) today announced audited results for the year 2021 as summarized below:

CHICAGO RIVET & MACHINE CO. Summary of Consolidated Results of Operations For the Years Ended December 31
	2021	2020
Net sales	$33,974,558	$27,590,653
Income before income taxes	1,414,472	65,450
Net income	1,113,472	50,450
Net income per common share	1.15	.05
Average common shares outstanding	966,132	966,132

 

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SOURCE Chicago Rivet & Machine Co.

FAQ

What were Chicago Rivet's net sales for 2021?

Chicago Rivet reported net sales of $33.97 million for the year 2021.

How much did Chicago Rivet earn in net income for 2021?

The company earned a net income of $1.11 million in 2021.

What is the net income per share for Chicago Rivet in 2021?

The net income per share for Chicago Rivet in 2021 was $1.15.

How did Chicago Rivet's performance in 2021 compare to 2020?

In 2021, Chicago Rivet saw significant growth, with net sales and net income both up substantially compared to 2020.