George Risk Industries, Inc.: Second Quarter Results and New Product Introduction

KIMBALL, NE / ACCESSWIRE / December 23, 2016 / GEORGE RISK INDUSTRIES, INC. (OTC PINK: RSKIA), a diversified and leading American manufacturer of a wide variety of products in the security industry, reported net sales for the quarter ended October 31, 2016 to be $2,883,000, a 3.89% increase from the corresponding quarter last year, which showed net sales at $2,775,000. Year-to-date net sales were $5,549,000 at October 31, 2016, a 1.44% decrease for the same period last year, which recorded net sales of $5,630,000. Net income for the quarter ended October 31, 2016 was $692,000, which is a 20.77% increase from the corresponding quarter last year, which had net income of $573,000. Net income for the six months ended October 31, 2016 was $1,259,000, as compared to $1,295,000 for the six months ended October 31, 2015. Earnings per common share for the quarter ended October 31, 2016 were $0.14 per share and $0.25 per share for the year to date numbers. EPS for the quarter and six months ended October 31, 2015 were $0.11 per share and $0.26 per share, respectively.

The Company's performance has remained fairly constant through the first and second quarters, due to the continuation of our quality U.S.A. made products with the ability for customization and our notable customer service. Additionally, strong performance in the stock market has generated adequate returns on the marketable securities. Management believes that sales will continue to stay the course. With the addition of new hardware and software systems to enhance productivity and communication throughout the organization, we expect an increase in efficiency, which should help lower our manufacturing costs.

A new product that was recently introduced to the market is a power transfer device (PTDC series). The power transfer device is used to transfer power via an electrical wire or cable from the door frame to the door for control, locks, and/or monitoring. The GRI PTDC series has heavy duty aluminum ends and stainless steel armored cable, which will help prevent damage to the wires and tampering. The armored cable twist locks into the ends and is secured with a set screw. Available in a variety of precut lengths, the armored cable can also be ordered in custom lengths to suit the application.

George Risk Industries, Inc. designs, manufactures, and sells its products primarily to distributors and OEM manufacturers. These products include custom computer keyboards, push button switches, burglar alarm components, pool alarms, thermostats, E-Z wire covers, and hydro sensors. The company has representation in the United States and Canada, as well as many other countries throughout the world.

CONTACTS:

Stephanie M. Risk-McElroy, President/CEO/CFO
308-235-4645
800-523-1223

SOURCE: George Risk Industries, Inc.