Universal Safety Products, Inc. Reports First-Quarter Results

Financial Performance - The company reported sales of $3,824,247 for the quarter ending June 30, 2025, a decrease from $4,598,516 in the same period last year, representing a decline of approximately 16.8% [2][5] - Net income for the quarter was $1,810,321, or $0.78 per basic and diluted share, compared to a net loss of $(442,206), or $(0.19) per basic and diluted share, for the same period last year [2][5] - The results included a gain of $2,820,668 from the sale of the smoke and carbon monoxide alarm segment [2] Operational Insights - The decrease in sales was attributed to the sale of the smoke alarm segment in May 2025 and the impact of increased import tariffs on all products [3] - The company plans to continue operations in the wiring device and bath fan segments and is seeking other opportunities to enhance shareholder value [3] Balance Sheet Overview - As of June 30, 2025, total current assets were $7,580,226, down from $8,515,532 a year earlier [7][8] - Cash increased significantly to $3,820,394 from $321,539 in the previous year [7] - Total liabilities decreased to $606,194 from $4,144,636, indicating improved financial stability [8]