Chicago Rivet & Machine Co. Announces Year-End Earnings
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.
News Market Reaction – CVR
On the day this news was published, CVR declined 2.36%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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 |
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SOURCE Chicago Rivet & Machine Co.