COMPX REPORTS SECOND QUARTER 2024 RESULTS

Core Insights - CompX International Inc. reported a slight decrease in sales for Q2 2024, totaling $35.9 million compared to $36.6 million in Q2 2023, while operating income increased to $5.1 million from $4.4 million in the same period last year [1][3] - For the first six months of 2024, sales were $73.9 million, down from $77.8 million in the previous year, with operating income decreasing to $8.8 million from $11.4 million [2][3] Financial Performance - Q2 2024 net income was $4.9 million, or $0.39 per share, compared to $4.0 million, or $0.33 per share, in Q2 2023 [1][9] - For the six months ended June 30, 2024, net income was $8.6 million, or $0.70 per diluted share, down from $10.1 million, or $0.82 per diluted share, in the same period of 2023 [2][9] Sales Breakdown - The decrease in net sales for both Q2 and year-to-date 2024 was attributed to lower Marine Components sales, particularly in the towboat market, which was partially offset by increased Security Products sales, mainly to the government security market [3] - Operating income for Q2 2024 improved due to higher Security Products sales and gross margin, which outweighed the decline in Marine Components sales [3] Company Overview - CompX is recognized as a leading manufacturer of security products and recreational marine components, operating from three locations in the U.S. and employing approximately 523 people [4]