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This resource centralizes UUU's financial announcements, product innovations, and strategic partnerships—all essential for evaluating the company's position in the safety technology sector. Users will find updates on patent advancements, manufacturing milestones, and compliance certifications that underscore UUU's commitment to quality.
Key coverage areas include earnings reports, leadership changes, and operational expansions. The page also features analyses of UUU's industry impact, including its ISO 9001-certified production processes and next-day delivery network that serves residential and commercial markets nationwide.
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Universal Security Instruments (NYSE: UUU) reported its fiscal third quarter and nine months results ended December 31, 2024. Despite sales increasing 18.9% to $5.5M in Q3 and 15.0% to $17.3M for the nine-month period, the company reported significant losses. Q3 saw a net loss of $936,639 ($0.40 per share) compared to a net income of $102,176 ($0.04 per share) last year.
The company has entered into an Asset Purchase Agreement with Feit Electric Company on October 29, 2024. The lower quarterly results were attributed to bulk sales of excess inventory at reduced margins and substantial expenses related to the potential asset sale. If shareholders don't approve the asset sale, the company may consider delisting from NYSE MKT and terminating its periodic reporting obligations.
Universal Security Instruments (NYSE AMEX: UUU) reported its fiscal third quarter and nine months results ended December 31, 2024. Q3 sales increased 18.9% to $5.5M, but the company recorded a net loss of $936,639 ($0.40 per share) compared to net income of $102,176 ($0.04 per share) last year. Nine-month sales grew 15.0% to $17.3M, with a net loss of $801,867 ($0.35 per share) versus net income of $80,881 ($0.03 per share) in 2023.
The company entered into an Asset Purchase Agreement with Feit Electric Company on October 29, 2024. The lower results were attributed to bulk sales of excess inventory at reduced margins and substantial expenses related to the potential asset sale. If shareholders don't approve the sale, the company may consider delisting from NYSE MKT and terminating its reporting obligations.
Universal Security Instruments (NYSE AMEX: UUU) reported significant growth in its fiscal second quarter ended September 30, 2024. Sales increased 93.8% to $7.2 million, compared to $3.7 million in the same period last year. The company posted a net income of $576,978 ($0.25 per share), reversing last year's loss of $186,425. Six-month sales rose 13.3% to $11.8 million. A major sale to a national retail chain contributed $3.5 million to quarterly revenue, though this level is not expected to continue. The company has entered into an Asset Purchase Agreement with Feit Electric Company, pending shareholder approval in Q1 2025.
Universal Security Instruments (NYSE Amex: UUU) reported its fiscal quarter results ended June 30, 2024. The company experienced a significant decline in sales, dropping from $6,698,771 in the previous year to $4,598,516 this quarter. UUU also reported a net loss of $442,206, or $(0.19) per basic and diluted share, compared to a net income of $165,130, or $0.07 per share, in the same period last year.
CEO Harvey Grossblatt attributed the lower sales to supply chain delays in obtaining components for security products. Additionally, gross margins were reduced due to higher ocean freight and component costs. Universal Security Instruments, founded in 1969, is a distributor of safety and security devices, specializing in smoke, fire, and carbon monoxide alarms.
Universal Security Instruments (NYSE Amex: UUU) reported its financial results for Q4 and the fiscal year ending March 31, 2024. In Q4, sales dropped 18.5% to $4.83 million, leading to a net loss of $476,671, or $0.21 per share, from a net income of $284,635 in the same period last year. Annual sales decreased by 10.3% to $19.90 million, resulting in a net loss of $395,790, or $0.17 per share, compared to a net income of $720,411 the previous year. Current-year results reflect a $150,000 insurance audit and a $168,000 increase in the provision for credit losses, including amounts under litigation. Supply chain issues and rising ocean freight rates further impacted sales.
Universal Security Instruments, Inc. (NYSE Amex: UUU) has received a notice from NYSE American LLC regarding noncompliance with continued listing standards. The issue stems from the failure to hold an annual meeting for the fiscal year ended March 31, 2022, by the required date of March 31, 2023. The Company plans to rectify this by holding the annual meeting in fall 2023, which is expected to restore compliance.
Founded in 1969, Universal Security Instruments specializes in safety and security devices, including alarms. The Company's commitment to innovative solutions continues to drive its business forward.
