Universal Mfg. Co. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended January 31, 2017
March 16, 2017
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Universal Mfg. Co. reported unaudited consolidated financial results for the second quarter and six months ended January 31, 2017. For the quarter, sales were $10,407,566 against $16,426,463 a year ago. Loss before income taxes was $516,577 against $221,840 a year ago. Net loss was $340,941 or $0.38 per diluted share against $146,415 or $0.18 per diluted share a year ago. Cash flow for the Quarter was impacted by the ramp up in its production.
For the six months, sales were $20,801,593 against $55,009,379 a year ago. Loss before income taxes was $909,089 against income of $3,978,405 a year ago. Net loss was $599,999 or $0.68 per diluted share against net income of $2,625,746 or $3.14 per diluted share a year ago.
Universal Mfg. Co. is engaged in the business of remanufacturing and/or distribution, on a wholesale basis, of electric fuel pumps, transfer cases, calipers, transmission assembles and other automotive parts for various makes and models of vehicles. The principal markets for the Company's products are automotive dealers, jobbers, repair shops and other automotive parts distributors located throughout the United States and Canada. Its operating units include Man Lift Mfg. Co., which is engaged in the business of assembly, manufacture, distribution and sale of specialty manlift products and mobile hydraulic equipment; UMC ReTech, which supplies original equipment manufacturer (OEM) quality remanufactured and new aftermarket automotive parts; Metal Works Mfg. Co., which is engaged in the business of cutting, forming, bending, welding and assembling of steel for OEMs, and Ultra Armoring, LLC, which designs, manufactures and assembles products for the United States Government.