CompX International Inc. manufactures security products and recreational marine components through its Security Products and Marine Components segments. Company news centers on quarterly results, segment sales trends, gross margin changes, and demand across markets such as healthcare, government security, industrial, towboat, and recreational marine applications.
Updates also cover regular and special dividends on CompX Class A common stock. The company’s product references include mechanical and electrical cabinet locks and other locking mechanisms, as well as stainless steel exhaust systems, gauges, throttle controls, and trim tabs for marine and related industrial uses.
CompX International (CIX) has declared a quarterly dividend of $0.10 per share, payable on June 16, 2020, to stockholders of record by the close of business on June 9, 2020. During the annual stockholder meeting held on May 27, 2020, stockholders elected directors for a one-year term and approved executive compensation on a nonbinding advisory basis. CompX specializes in manufacturing security products and recreational marine components, continuing its commitment to shareholder returns and effective governance.
CompX International announced a sales increase to $32.3 million in Q1 2020, up from $31.2 million in Q1 2019. Operating income rose to $5.0 million, compared to $4.3 million the previous year. Net income also increased to $4.3 million or $0.34 per share, up from $4.0 million or $0.32 per share in 2019. The growth was driven by higher sales in Security Products and Marine Components. However, the company cautioned that COVID-19 may adversely affect future sales and earnings.