Chicago Rivet & Machine Co. Announces Year-End Earnings
Chicago Rivet & Machine Co. (CVR) reported its audited results for 2021, showcasing significant growth.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Chicago Rivet & Machine Co. (CVR) reported its audited results for 2021, showcasing significant growth. The company achieved net sales of $33.97 million, up from $27.59 million in 2020. Notably, net income surged to $1.11 million compared to $50,450 the previous year, resulting in a net income per share of $1.15, up from $0.05. The average common shares outstanding remained stable at 966,132. This performance indicates a robust recovery and enhanced profitability for CVR.
Positive
- Net sales increased by 23% from $27.59 million (2020) to $33.97 million (2021).
- Net income rose to $1.11 million in 2021, compared to $50,450 in 2020.
- Net income per share improved significantly from $0.05 to $1.15.
Negative
- None.
Details
News Market Reaction – CVR
The recorded move for CVR in the trading session of this news was -2.36%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NAPERVILLE, Ill., March 21, 2022 /PRNewswire/ -- Chicago Rivet & Machine Co. (NYSE American: CVR) today announced audited results for the year 2021 as summarized below:
CHICAGO RIVET & MACHINE CO. Summary of Consolidated Results of Operations For the Years Ended December 31 | ||
2021 | 2020 | |
Net sales | ||
Income before income taxes | 1,414,472 | 65,450 |
Net income | 1,113,472 | 50,450 |
Net income per common share | 1.15 | .05 |
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-301506942.html
SOURCE Chicago Rivet & Machine Co.
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