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Risk George Industries, Inc. - Class A (RSKIA+3.08%) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing includes financial statements for the quarter, showing net sales of $5,613,000, a decrease from $6,053,000 in the same quarter the previous year. Year-to-date net sales were $11,394,000, an increase from $10,781,000 in the prior year.
Cost of goods sold was 51.65% of net sales for the quarter, compared to 48.72% in the same quarter last year. Operating expenses increased by $95,000 for the quarter.
Income from operations for the quarter was $1,483,000, a decrease from $1,968,000 in the previous year. Year-to-date income from operations was $3,256,000, compared to $3,155,000 in the prior year.
Net income for the quarter was $2,215,000, up from a loss of $55,000 in the previous year. For the six-month period, net income was $4,920,000, up from $2,319,000 in the prior year.
Earnings per share for the quarter were $0.45, compared to a loss of $0.01 in the previous year. Year-to-date earnings per share were $1.00, compared to $0.47 in the prior year.
Cash and cash equivalents decreased by $1,658,000 during the six months ended October 31, 2024. Accounts receivable increased by $19,000, and inventories decreased by $435,000.
The company declared a dividend of $1.00 per share on September 30, 2024, which was paid during the second quarter.
Risk George Industries continues to develop new products, including explosion-proof contacts and wireless technology enhancements.
The company identified a material weakness in its internal controls over financial reporting due to the limited size of its staff, which impacts the separation of duties.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Risk George Industries, Inc. - Class A quarterly 10-Q report dated December 16, 2024. To report an error, please email earnings@qz.com.