Universal Security Instruments Stock Gains After Q1 Results

August 20, 2021 9:53 AM | 1 min read |

Universal Security Instruments, Inc. UUU reported first-quarter sales growth of 58.7% year-over-year to $4.67 million, reflecting increased sales to large national retailers.
EPS was $0.01 versus $(0.03) a year ago.
The gross margin contracted by 967 bps to 26.9%, negatively impacted by higher supply chain costs.
The company said it returned to profitability in Q1 despite the supply chain and transportation cost issues which are continuing.
Universal Security cash used in operating activities year-to-date of $0.196 million, compared to cash generated of $0.747 million a year ago.
Price Action: UUU shares are trading higher by 5.84% at $5.80 on Friday.