Universal Security Instruments - UUU STOCK NEWS

Universal Security Instruments, Inc. (UUU) reported its fiscal second quarter results for the period ending September 30, 2021. Sales dropped by approximately 18% to $5,272,223 compared to $6,457,295 in the same quarter last year. Net income fell significantly to $107,696, or $0.05 per share, down from $725,845, or $0.31 per share, in the prior year. However, sales for the six-month period increased by 6% to $9,940,221. The lower net income was attributed to increased freight and customs costs, alongside ongoing supply chain disruptions.

Universal Security Instruments, Inc. (NYSE AMEX: UUU) addressed recent stock market activity on August 26, 2021, confirming no undisclosed material changes in business operations contributed to its share price increase. The NYSE temporarily halted trading of UUU stock in line with standard practices. Universal Security Instruments, a safety and security device distributor with over 50 years of history, maintains its focus on innovative products like smoke alarms. The company emphasizes that forward-looking statements may involve risks and uncertainties, potentially affecting actual results.

Universal Security Instruments, Inc. (NYSE Amex: UUU) reported significant growth for its fiscal quarter ended June 30, 2021. Sales surged approximately 58.7% to $4,667,998, compared to $2,940,768 in the prior year. The company achieved a net income of $14,641 or $0.01 per share, a remarkable recovery from a net loss of $78,982 or $(0.03) per share a year ago. Despite ongoing supply chain and transportation cost challenges, the company is managing these issues with its partners.

Universal Security Instruments (UUU) reported its financial results for Q4 and fiscal year ending March 31, 2021. Q4 sales fell by $616,448 (17.1%) to $2,997,338, resulting in a net loss of $456,838 or $0.19 per share. Conversely, for the year, sales rose by $2,717,127 (18.4%) to $17,520,151, with net income of $268,343 or $0.12 per share. Challenges included supply chain issues affecting inventory and shipping. The company noted improvements in early fiscal 2022.

Universal Security Instruments (NYSE AMEX: UUU) reported a strong fiscal third quarter ending December 31, 2020, with sales rising by approximately 59% to $5.12 million compared to $3.22 million in the previous year. The company posted a net income of $78,318, a significant turnaround from a net loss of $1.01 million during the same period in 2019. For the nine months, sales increased by around 30% to $14.52 million, with net income at $725,181, recovering from a loss of $2.32 million the previous year. The company expanded its 450-store test to 1,350 stores and is awaiting the status of its PPP loan forgiveness application.

Universal Security Instruments, Inc. (NYSE AMEX: UUU) released a statement addressing recent unusual trading activity of its stock, which led to a trading halt by the New York Stock Exchange. The Company confirmed that it is unaware of any undisclosed material changes affecting its business that could explain the rise in stock price and trading volume. Established in 1969, the Company specializes in safety and security devices, including smoke, fire, and carbon monoxide alarms. For further information, visit www.universalsecurity.com.

Universal Security Instruments received a letter from the NYSE American on November 5, 2020, confirming acceptance of its compliance restoration plan. This follows a prior notification on August 31, 2020, indicating the company failed to meet the required stockholders' equity of $6 million after consecutive losses over five years. The plan aims for compliance by February 28, 2022, with quarterly reviews by the Exchange. Failure to meet this deadline may lead to delisting proceedings. The company remains committed to executing its plan to regain compliance.

Universal Security Instruments, Inc. (NYSE AMEX: UUU) reported a strong fiscal second quarter for the period ending September 30, 2020, with sales soaring approximately 78% to $6,457,295, compared to $3,622,269 in the previous year. The company achieved net income of $725,845, or $0.31 per share, reversing a net loss of $(700,814) a year prior. For the six months ended September 30, 2020, sales also rose 18% to $9,398,063, with net income of $646,863 compared to a loss of $(1,309,768) in 2019. The growth was driven by increased shipments and reduced expenses during the COVID-19 pandemic.

Universal Security Instruments, Inc. (NYSE Amex: UUU) announced on September 4, 2020, that it received a non-compliance notice from NYSE American, citing failure to maintain a minimum stockholders' equity of $6.0 million. The company has reported losses over the past five fiscal years. To address this, UUU must submit a compliance plan by September 30, 2020, outlining steps to regain compliance by February 28, 2022. If successful, it may continue listing; otherwise, delisting proceedings will commence.