US Lighting Group Posts a 2021 Q2 Net Income of $3.453 million and $.04 Earnings per Share

Rhea-AI Summary

U.S. Lighting Group, Inc. (OTC:USLG) reported a quarterly net income of $3.453 million for the three months ending June 30, 2021, boosted by a one-time gain of $3.915 million from selling assets of its subsidiary, Intellitronix Corporation. However, the company recorded a net loss of $161,000 from continuing operations during the same period, with earnings per share at $.04. The company operates divisions like Cortes Campers and Fusion X Marine, focusing on innovative recreational vehicles and boats.

Positive

• Quarterly net income increased to $3.453 million due to an asset sale.
• One-time gain of $3.915 million positively impacted financials.
• Earnings per share reported at $.04.

Negative

• Net loss from continuing operations was $161,000.

Euclid, Ohio, USA, Aug. 31, 2021 (GLOBE NEWSWIRE) -- U.S. Lighting Group, Inc. (OTC:USLG) (the “Company”) reports a quarterly net income of $3.453 million for the 3-months ended June 30, 2021. Net income includes a one-time gain of $3.915 million from the sale of the assets of the Company’s wholly-owned subsidiary Intellitronix Corporation in May 2021. Net loss from continuing operations for the quarter ended June 30, 2021 was $161,000. The Company posted earnings per share of $.04 in stock for the same period.

Please see https://www.sec.gov/ix?doc=/Archives/edgar/data/1536394/000121390021045665/f10q0621_uslightinggroup.htm  for the latest copy of our Form 10-Q.

About U.S. Lighting Group, Inc.
US Lighting Group, Inc. (OTC:USLG) is a holding company. The Company’s principal division consists of “Cortes Campers”, a revolutionary manufacturer of recreational vehicles utilizing the highest quality marine materials to create lighter weight, stronger, and more durable RV travel trailers and campers. Another division of the Company, “Fusion X Marine”, is a boat manufacturer and franchisor of mini powerboats. The Company and its subsidiaries have manufacturing and R&D facilities in Cleveland, Ohio.

Forward-Looking Statements
Statements included in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements are typically, but not always, identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements.

Contact
US Lighting Group
1148 East 222nd Street
Euclid, OH 44117 USA
T: +1 216.896.7000
shareholder-relations@uslightinggroup.com
uslightinggroup.com

FAQ

What was U.S. Lighting Group's net income for Q2 2021?

U.S. Lighting Group reported a net income of $3.453 million for the second quarter of 2021.

How much was the one-time gain from the sale of Intellitronix Corporation?

The one-time gain from the sale of Intellitronix Corporation amounted to $3.915 million.

What was the EPS for U.S. Lighting Group in Q2 2021?

The earnings per share (EPS) for U.S. Lighting Group in Q2 2021 was $.04.

Did U.S. Lighting Group experience any losses in Q2 2021?

Yes, U.S. Lighting Group reported a net loss of $161,000 from continuing operations in Q2 2021.