KIMBALL, Neb. — George Risk Industries, a manufacturer of magnetic reed switches and other security-related products, completed its fiscal year ending April 30 reporting a net profit of 28.31% of net sales.
Net sales exceeded $11 million, up 4.9% over the previous year. The increase in sales is a result of continued quality service and a price increase implemented in January, the company said. Net income for the fiscal year ended April 30 was $3.12 million, up 14.74% from the prior year and producing a net gain of $2.72 million.
Earnings per common share on April 30 was 62 cents per share, compared to 54 cent per share on April 30, 2013.
Management expects sales to remain steady for the fiscal year ending April 30, 2015, according to a press release. The company’s main division of products sold — security switches — are directly tied to the housing industry. As the housing industry’s performance has improved, the company’s sales have also improved in relation to the economy.
Research and development of new products are essential for the company’s sales increases, according to the press release. Introduction dates for anticipated new products that were not successfully launched in fiscal year 2014 are forthcoming, according to the company.
New product development is focused on wireless technology that can be applied to some of the company’s current products. The company is working on a wireless version of its Pool Alarm that will allow easy installation in new and existing construction, according to the press release. The company is also “concentrating on making products compatible with the increasing popular Z-Wave standard for wireless home automation.”
George Risk Industries, based here, is engaged in the design, manufacture and sales to distributors and OEM manufacturers of custom computer keyboards, push button switches, burglar alarm components, pool alarms, thermostats, E-Z wire cover, and hydro sensors. The company has representation in the United States, Canada, Asia, and EMEA (Europe, the Middle East and Africa).