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0.00734869127239692 0.00734869127239692 0.00734869127239692 0.00734869127239692 0.00734869127239692 0.00561473041037067 -0.00916522169928173 -0.00916522169928173
Stock impact report

Universal Security Instruments Reports First-Quarter Results

Universal Security Instruments, Inc. (UUU) 
NASDAQ:AMEX Investor Relations: universalsecurity.com/investor-relations
Company Research Source: PR Newswire
OWINGS MILLS, Md., Aug. 19, 2019 /PRNewswire/ -- Universal Security Instruments, Inc. (NYSE Amex: UUU) today announced results for its fiscal quarter ended June 30, 2019. The Company reported sales rose approximately 7.3% to $4,343,291 for the quarter ended June 30, 2019, versus $4,045,996 for the comparable period of last year.   The Company reported a net loss of $608,954, or $0.26 per basic and diluted share, compared to a net loss of $438,833, or $0.19 per basic and diluted share, for the same period last year. "The primary reason for the higher loss was an increase in Joint Venture loss and higher interest expense in the amount of $148,482. Additionally, the Company's gross margins were lower compared to the comparable quarter due to the impact of tariffs," said Harvey Grossblatt, President and CEO.UNIVERSAL SECURITY INSTRUMENTS, INC. is a U.S.-based manufacturer (through its Hong Kong Joint Venture) and distributor of safety and security devices. Founded in 1969, the Company has Show less Read more
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