Chicago Rivet & Machine Co. Announces Year-End Earnings
Rhea-AI Summary
Chicago Rivet & Machine Co. (NYSE American: CVR) announced its audited results for the year 2022, reporting a net sales decrease to $33,646,033 from $33,974,558 in 2021. The company achieved an income before income taxes of 3,652,629, up from 1,414,472 the prior year. Net income rose significantly to 2,867,629, compared to 1,113,472 in 2021, resulting in a net income per common share of 2.97 versus 1.15 in 2021. Average common shares outstanding remained stable at 966,132.
AI-generated analysis. Not financial advice.
Positive
- Net income increased to 2,867,629 from 1,113,472 (157% rise)
- Net income per share rose to 2.97 from 1.15 (158% increase)
- Income before taxes improved to 3,652,629 from 1,414,472 (158% rise)
Negative
- Net sales decreased to 33,646,033 from 33,974,558 (1% decline)
News Market Reaction – CVR
On the day this news was published, CVR declined 2.31%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Summary of Consolidated Results of Operations For the Years Ended | ||
2022 | 2021 | |
Net sales | ||
Income before income taxes | 3,652,629 | 1,414,472 |
Net income | 2,867,629 | 1,113,472 |
Net income per common share | 2.97 | 1.15 |
Average common shares outstanding | 966,132 | 966,132 |
View original content:https://www.prnewswire.com/news-releases/chicago-rivet--machine-co-announces-year-end-earnings-301785144.html
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