KIMBALL, Neb., Sept. 19, 2011 (GLOBE NEWSWIRE) -- GEORGE RISK INDUSTRIES, INC., (OTCBB:RSKIA), a leading manufacturer of products in the security industry, presented net sales for the quarter ended July 31, 2011 to be $2,598,000, an increase of 29.44% from the corresponding quarter last year. Net sales for the quarter ended July 31, 2010 were $2,007,000. Net income for the quarter ended July 31, 2011, was at $792,000, a 218.07% increase from the corresponding quarter last year, which showed net income of $249,000. Earnings per share for the quarter ended July 31, 2011 were $0.16 per common share and $.05 per common share for the quarter ended July 31, 2010.
Our 700 Series switch is completed and in production. Sales have been strong with nearly 13,000 sold since May 2011. Splice and corner connecting pieces for the E-Z Duct Quarter Round Raceway are being molded. A plastic housing for our flat magnet (MF-875) is in the works.
Engineering has completed the DM-1, a garage door alert that monitors when garage doors have been left open and then automatically shuts the door, either by a timed delay after the garage door has been opened or closing at a specific time every day. This will be a good up sell as a lot of burglaries occur when garage doors are left open or unlocked. Products in process are new water sensors made from a flexible cord. These contain multiple sensors to cover a larger detection area such as along the wall of a computer or utility room. A newly designed 110V Current Controller works with our contact switches to secure the door of a storage unit and also turns on the light when the door is opened.
At George Risk Industries, Inc. latest Board of Directors meeting, a dividend of $0.23 per common share was declared. This dividend will be paid to stockholders of record as of September 30, 2011, and will be paid by October 31, 2011.
George Risk Industries, Inc is engaged in the design, manufacture and sales to distributors and OEM manufacturers of custom computer key boards, push button switches, burglar alarm components, pool alarms, thermostats, E-Z Duct wire cover, and hydro sensors. The company has representation in the United States, Canada, Asia, and EMEA.