KIMBALL, Neb., Sept. 18, 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 July 31, 2009 were $1,964,000 as compared to $2,445,000 for the corresponding quarter last year. Net income for the quarter ended July 31, 2009 was $204,000 compared to $394,000 for the corresponding quarter ended July 31, 2008. Earnings per share for the quarter ended July 31, 2009 was $0.04 per common share and $0.08 per common share for the quarter ended July 31, 2008.
Because of the national slump in construction, sales remain soft, although a turn around is being seen and a pick up in manufacturing is expected later this fiscal year. The company is located in the center of the country, which has not been hit as hard with the downturn in the economy. Since the company maintains low overhead and practically has no debt, the bottom line remains in the black.
The Omni-Directional Tilt Sensor is now in production. When mounted on such objects as industrial equipment, toolboxes, air conditioners, museum pieces, or skylights, it can detect a slight movement of tilt in any direction should a thief or burglar try to tamper with or remove the equipment or device. With copper theft from air conditioning units at all time highs, this product is now being installed commonly on A/C units behind homes and businesses. Another new product, the Quick Disconnect Cord, is routinely used by security installers to transfer power from one side of a fence across a gate or door to the other side of a fence. It can also be used on overhead doors and is intended to meet certain specialty applications for security installers.
Engineering continues to work on a wireless swimming pool alarm design, a low cost hold-up switch for banks and offices, a pump guard watering station monitor, and a high security contact switch.
At George Risk Industries' latest Board of Directors meeting, a dividend of $0.17 per common share was declared. This dividend will be paid to stockholders of record as of September 30, 2009, and will be paid by October 31, 2009.
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, Europe, and Africa.