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Universal Safety Products, Inc. Reports First-Quarter Results

1. UUU's sales decreased to $3.82 million, down from $4.60 million last year. 2. Net income reached $1.81 million, improving from last year's loss of $442,206. 3. Sales decline attributed to the sale of the smoke alarm segment and tariffs. 4. Company plans to focus on wiring devices and bath fan segments for growth. 5. Cash reserves increased significantly, indicating better liquidity position.

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$3.408/19 07:35 AM EDTEvent Start
$3.070808/20 01:54 PM EDTLatest Updated
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FAQ

Why Bullish?

The transition from loss to profit signals operational improvement, despite declining sales.

How important is it?

The shift from a net loss to a net income is pivotal, indicating potential recovery.

Why Short Term?

The immediate profits and increased liquidity may boost confidence in UUU's stock.

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August 19, 2025 07:30 ET  | Source: Universal Safety Products, Inc. OWINGS MILLS, Md., Aug. 19, 2025 (GLOBE NEWSWIRE) -- Universal Safety Products, Inc. (NYSE American: UUU) today announced results for its fiscal quarter ended June 30, 2025. The Company reported sales of $3,824,247 for the quarter ending June 30, 2025, versus $4,598,516 for the comparable period of last year. The Company reported net income of $1,810,321 or $0.78 per basic and diluted share, compared to a net loss of $(442,206), or $(0.19) per basic and diluted share, for the same period last year. Included in the June 30, 2025 results was a gain of $2,820,668 from the sale of our smoke and carbon monoxide alarm segment. Harvey Grossblatt - President and CEO said: “Sales were lower in the current quarter since we sold our smoke alarm segment in May 2025. Sales were further negatively impacted by the increased import tariffs on all of our products. Our plans are to continue operations in the wiring device and bath fan segments of our business and look for other opportunities to grow shareholder value.” UNIVERSAL SAFETY PRODUCTS, INC. is a distributor of safety and security devices. Founded in 1969, the Company has an over 56-year heritage of developing innovative and easy-to-install products.  For more information on Universal Safety Products, Inc., visit our website at www.universalsafetyprod.com. "Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Certain matters discussed in this news release may constitute forward-looking statements within the meaning of the federal securities laws that inherently include certain risks and uncertainties.  Actual results could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including, among other items, currency fluctuations, the impact of current and future laws and governmental regulations, and other factors which may be identified from time to time in our Securities and Exchange Commission filings and other public announcements.  We do not undertake and specifically disclaim any obligation to update any forward-looking statements to reflect occurrence of anticipated or unanticipated events or circumstances after the date of such statements.  We will revise our outlook from time to time and frequently will not disclose such revisions publicly.  UNIVERSAL SAFETY PRODUCTS, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(UNAUDITED)   Three Months Ended June 30, 2025 2024Sales$3,824,247  $4,598,516         Net Income (Loss): 1,810,321   (442,206)Net Income (Loss) per share – basic and diluted 0.78   (0.19)        Weighted average number of common shares outstanding:       Basic and diluted 2,312,887   2,312,887           CONDENSED CONSOLIDATED BALANCE SHEETS(UNAUDITED)  ASSETS  June 30, 2025 June 30, 2024Cash$3,820,394  $321,539         Accounts receivable and amount due from factor 2,676,543   2,955,164 Inventory 1,012,259   5,106,588 Prepaid expense 71,030   132,241    TOTAL CURRENT ASSETS 7,580.226   8,515,532    PROPERTY, EQUIPMENT AND INTANGIBLE ASSETS–NET -   149,925    TOTAL ASSETS$7,580,226  $8,665,457  LIABILITIES AND SHAREHOLDERS’ EQUITY     Line of credit – factor$-  $2,223,419         Short-term portion of operating lease liability -   132,659 Accounts payable 260,212   1,526,605 Accrued liabilities 345,982   261,953 TOTAL CURRENT LIABILITIES 606,194   4,144,636         COMMITMENTS AND CONTINGENCIES -   -    SHAREHOLDERS’ EQUITY:  Common stock, $.01 par value per share; authorized20,000,000 shares; issued and outstanding 2,312,887 at June 30, 2025 and 2024 23,129   23,129 Additional paid-in capital 12,885,841   12,885,841 Accumulated Deficit (5,934,938)  (8,388,149)   TOTAL SHAREHOLDERS’ EQUITY 6,974,032   4,520,821 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY$7,580,226  $8,665,457          Contact: Harvey Grossblatt, CEO Universal Safety Products, Inc.(410) 363-3000, Ext. 224

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