Business
Universal Safety Products, Inc. (formerly Universal Security Instruments, Inc.) Announces its Fourth-Quarter and Year-End Results
OWINGS MILLS, Md., July 28, 2025 (GLOBE NEWSWIRE) -- Universal Safety Products, Inc. (formerly Universal Security Instruments, Inc.) (NYSE American LLC: UUU) today announced its financial results for the fourth quarter and its fiscal year ended March 31, 2025. The Company reported: For the fourth quarter ended March 31, 2025, sales increased $1,780,152 (40.0%) to $6,226,621 from $4,446,469 from the comparable period last year. The Company reported net income of $1,302,551, or $0.56 per basic and
About this update from Universal Safety Products, Inc.
[{"type":"text","content":"OWINGS MILLS, Md., July 28, 2025 (GLOBE NEWSWIRE) -- Universal Safety Products, Inc. (formerly Universal Security Instruments, Inc.) (NYSE American LLC: UUU) today announced its financial results for the fourth quarter and its fiscal year ended March 31, 2025.","length":265,"tagName":"p"},{"type":"text","content":"The Company reported:","length":21,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"For the fourth quarter ended March 31, 2025, sales increased $1,780,152 (40.0%) to $6,226,621 from $4,446,469 from the comparable period last year. The Company reported net income of $1,302,551, or $0.56 per basic and diluted share compared to a net loss of $776,671, or $0.34 per basic and diluted share for the comparable period of the previous year.","length":352,"tagName":"p"}]},{"val":[{"type":"text","content":"For the twelve months ended March 31, 2025, sales increased $4,045,881 (20.7%) to $23,563,554 versus $19,517,673 for the fiscal year ended March 31, 2024. The Company reported net income of $500,684, or $0.22 per basic and diluted share, versus a net loss of $695,790 or $0.30 per basic and diluted share, for the same period last year.","length":336,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":688,"olType":false},{"type":"text","content":"As previously reported, on May 22, 2025, the Company closed on the sale of its smoke alarm and carbon monoxide alarm business and certain other assets to Feit Electric Company. The Company intends to continue marketing its product lines other than smoke alarms and carbon monoxide alarms. However, all of the Company’s products are imported from the People’s Republic of China. The Company’s ability to sell those products at competitive prices depends, among other things, on the tariffs to which imports of those products will be subject. The Company is also exploring other business opportunities to drive long-term value for shareholders.","length":642,"tagName":"p"},{"type":"text","content":"The increase in net income for the fiscal year ended March 31, 2025, is attributed primarily to an increase in sales to retail customers, and to recording an income tax benefit associated with the reversal of a portion of the reserve for deferred tax assets arising from the gain on the sale of assets. In addition, certain revisions increasing the net loss in the p...