Universal Mfg. Co. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended April 30, 2017
June 13, 2017
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Universal Mfg. Co. reported unaudited consolidated earnings results for the third quarter and nine months ended April 30, 2017. For the quarter, the company reported sales of $12,203,466 against $7,139,006 a year ago. Loss before income taxes was $326,377 against $2,149,205 a year ago. Net loss was $215,408 against $1,270,761 a year ago. Diluted loss per share was $0.24 against $1.52 a year ago. Net sales for the quarter were up substantially over previous year driven by increased sales at Metal Works and Ultra Armoring this year.
For the nine months, the company reported sales of $33,005,058 against $62,148,386 a year ago. Loss before income taxes was $1,235,465 against income before income taxes of $1,830,199 a year ago. Net loss was $815,406 against net income of $1,355,984 a year ago. Diluted loss per share was $0.92 against diluted earnings per share of $1.62 a year ago.
Universal Mfg. Co. is engaged in the business of remanufacturing and/or distribution, on a wholesale basis, of electric fuel pumps, transfer cases, calipers, transmission assembles and other automotive parts for various makes and models of vehicles. The principal markets for the Company's products are automotive dealers, jobbers, repair shops and other automotive parts distributors located throughout the United States and Canada. Its operating units include Man Lift Mfg. Co., which is engaged in the business of assembly, manufacture, distribution and sale of specialty manlift products and mobile hydraulic equipment; UMC ReTech, which supplies original equipment manufacturer (OEM) quality remanufactured and new aftermarket automotive parts; Metal Works Mfg. Co., which is engaged in the business of cutting, forming, bending, welding and assembling of steel for OEMs, and Ultra Armoring, LLC, which designs, manufactures and assembles products for the United States Government.