Universal Security Instruments Reports Third-Quarter Results
Universal Security Instruments, Inc. (UUU)
NASDAQ:AMEX Investor Relations:
universalsecurity.com/investor-relations
Company Research
Source: PR Newswire
OWINGS MILLS, Md., Feb. 19, 2020 /PRNewswire/ -- Universal Security Instruments, Inc. (NYSE AMEX: UUU) today announced results for its fiscal third quarter and nine months ended December 31, 2019.For the three months ended December 31, 2019, sales declined approximately 28% to $3,223,678 compared to sales of $4,491,862 for the same period last year. The Company reported a net loss of $1,011,833, or $0.44 per basic and diluted share, compared to a net loss of $516,993 or $0.22 per basic and diluted share for the same period last year. For the nine months ended December 31, 2019, sales declined approximately 14% to $11,189,238 versus $13,064,110 for the same period last year. The Company reported a net loss of $2,321,601, or $1.00 per basic and diluted share, compared to a net loss of $1,077,150 or $0.47, per basic and diluted share for the corresponding 2018 period."Our sales and net loss for the third quarter and nine months were disappointing primarily due to lower Puerto Rico rebui
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