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Share Name | Share Symbol | Market | Type |
---|---|---|---|
CompX International Inc | AMEX:CIX | AMEX | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
2.46 | 8.15% | 32.66 | 32.9899 | 30.20 | 30.20 | 5,455 | 01:00:00 |
Net sales increased for the quarter primarily due to higher Marine Component sales to the towboat market and to a lesser extent higher Security Products sales. Marine Components continues to benefit from an overall increase in demand in the recreational marine market which began in late spring 2020. Operating income increased during the first quarter of 2021 due to the higher Marine Component sales as well as lower overall medical expenses, partially offset by higher costs of sales at Security Products.
CompX is a leading manufacturer of security products and recreational marine components. It operates from three locations in the U.S. and employs approximately 535 people.
Forward-Looking Statements
The statements in this press release relating to matters that are not historical facts are forward-looking statements that represent management’s belief and assumptions based on currently available information. Although we believe the expectations reflected in such forward-looking statements are reasonable, we cannot give any assurances that these expectations will be correct. Such statements, by their nature, involve substantial risks and uncertainties that could significantly impact expected results, and actual future results could differ materially from those predicted. While it is not possible to identify all factors, we continue to face many risks and uncertainties. The factors that could cause our actual future results to differ materially include, but are not limited to, the following:
Should one or more of these risks materialize (or the consequences of such development worsen), or should the underlying assumptions prove incorrect, actual results could differ materially from those currently forecasted or expected. CompX disclaims any intention or obligation to update or revise any forward-looking statement whether as a result of changes in information, future events or otherwise.
* * * * *
COMPX INTERNATIONAL INC.SUMMARY OF CONSOLIDATED OPERATIONS(In millions, except per share amounts)(Unaudited)
Three months ended | ||||||||||
March 31, | ||||||||||
2020 | 2021 | |||||||||
Net sales | $ | 32.3 | $ | 35.9 | ||||||
Cost of goods sold | 21.9 | 24.9 | ||||||||
Gross profit | 10.4 | 11.0 | ||||||||
Selling, general and administrative expense | 5.4 | 5.2 | ||||||||
Operating income | 5.0 | 5.8 | ||||||||
Interest income | 0.6 | 0.4 | ||||||||
Income before taxes | 5.6 | 6.2 | ||||||||
Provision for income taxes | 1.3 | 1.5 | ||||||||
Net income | $ | 4.3 | $ | 4.7 | ||||||
Basic and diluted net income per common share | $ | 0.34 | $ | 0.38 | ||||||
Weighted average diluted common | ||||||||||
shares outstanding | 12.4 | 12.4 |
SOURCE: CompX International Inc. CONTACT: Janet G. Keckeisen, Investor Relations, 972.233.1700
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