George Risk Industries, Inc. (GRI) reported a net income of $7.1 million for the fiscal year ending April 30, 2025, a decrease of 5.6% from the previous year's net income of $7.6 million. The company's total revenue increased by 3.5% to $22.5 million, compared to $21.8 million in the prior year. The growth in revenue was attributed to a combination of increased sales and a price increase implemented in the fourth quarter. However, the cost of goods sold also rose, accounting for 51.6% of net sales, up from 50.2% the previous year, which contributed to the decline in net income.
In terms of operational metrics, GRI's security alarm products division, which constitutes approximately 96% of total revenues, reported sales of $20.1 million, up from $19.6 million in the previous year. The company serves around 1,000 customers, with significant sales concentrated among a few distributors, including Ademco, Inc. and Anixter, Inc., which together account for over 60% of sales in the security division. The company also reported a decrease in inventories, which fell by $773,000, reflecting improved inventory management amid rising raw material and labor costs.
Strategically, GRI has continued to focus on product development, with several new products in the pipeline, including explosion-proof contacts and wireless technology enhancements. The company is also exploring automation to improve efficiency and meet growing demand. GRI's management remains open to potential acquisitions that could complement its existing operations, leveraging its strong cash position to pursue such opportunities without the need for external financing.
The company’s financial position remains solid, with total assets increasing to $63.3 million from $60.8 million in the previous year. Cash and cash equivalents decreased to $6.5 million, while investments in marketable securities rose to $35.7 million. GRI declared a dividend of $1.00 per share for the fiscal year, up from $0.65 the previous year, reflecting its commitment to returning value to shareholders. Looking ahead, management is optimistic about continued sales growth and is focused on addressing challenges related to rising costs and labor shortages in production.
About GEORGE RISK INDUSTRIES, INC.
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