KIMBALL, Neb., March 26, 2009 (GLOBE NEWSWIRE) -- George Risk Industries, Inc., (OTCBB:RSKIA), a leading manufacturer of products in the security industry, announced that net sales for the quarter ended January 31, 2009 were $1,825,000. Year-to-date net sales at January 31, 2009 were $6,739,000. Net income for the nine months ended January 31, 2009 was $568,000. Earnings per common share for the nine months ended January 31, 2009 was $0.11 per share.
Due to the downturn in the housing market, the company has taken measures to lessen labor costs by reducing labor hours and head count. With our competition continuing to carry standard types of security switches and instituting ordering stipulations, we have seen increased orders for custom built products. This is keeping the GRI name on the forefront of our customers' minds.
Sales of the HVAC Kits, designed to protect copper wiring on air conditioning coils, remain very strong. Our revamped window bar (WB-30-42), a visual deterrent designed to protect basement windows, attic doors, and vents, is selling very well. Its sister product, a wire trip unit (WT-01), has a box plunger attached to one side of the window and is strung with wire to the opposite side. When the wire is cut or tampered, the plunger releases and sounds the alarm. Our new water valve shut-off (WVS) will be introduced at the International Security Conference trade show in Las Vegas, NV the first week of April 2009. The WVS uses our water sensors and is placed near washing machines, water heaters, and such. If water is detected, the switch automatically shuts off the main water supply. Weekly and monthly checks are programmed into the WVS to insure everything is working properly.
Continued development on the hold-up switch, the wireless line of pool alarms, security sensors, and environmental sensors keeps engineering very busy. Engineering has also completed several programming updates on our door monitoring devices.
George Risk Industries, Inc. is engaged in the design, manufacture, and sales of custom computer key boards, 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, Europe, and Africa.