Uniroyal Global Engineered Products, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 1, 2018
August 06, 2018 at 04:35 pm EDT
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Uniroyal Global Engineered Products, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended July 1, 2018. For the quarter, the company reported net sales of $26,023,233 against $26,077,549 a year ago. Operating income was $1,474,897 against $1,644,302 a year ago. Income before tax provision was $982,014 against $1,143,129 a year ago. Net income available to common shareholders was $148,389 against $214,466 a year ago. Earnings per diluted common share was $0.01 against $0.01 a year ago.
For the six months, the company reported net sales of $52,452,920 against $51,835,978 a year ago. Operating income was $2,373,097 against $3,380,182 a year ago. Income before tax provision was $1,457,132 against $2,588,407 a year ago. Net loss available to common shareholders was $146,431 against earnings of $685,242 a year ago. Loss per diluted common share was $0.01 against earnings of $0.04 a year ago.
Uniroyal Global Engineered Products, Inc. is focused on manufacturing and selling vinyl coated fabric products. Its brand names include Naugahyde, BeautyGard, Flame Blocker, Spirit Millennium, Ambla, Amblon, Velbex, Cirroflex, Plastolene, and Vynide. The Company's products are used in various applications, such as automotive and non-automotive transportation, certain indoor/outdoor furniture, commercial and hospitality seating, healthcare facilities, and athletic equipment. In the automotive industry, its products are used primarily in seating, door panels, head and arm rests, security shades, and trim components, including instrument panels, door casings, seating, gear lever and steering column gaiters, headliners, and load space covers. Non-automotive applications include outdoor seating for utility and sports vehicles, sheeting used in medical and toxic hazard protection, personal protection, moisture barriers, stroller and nursery equipment, and decorative surface applications.