KIMBALL, Neb., Sept. 20, 2010 (GLOBE NEWSWIRE) -- George Risk Industries, Inc. (OTCBB:RSKIA), a leading manufacturer of products in the security industry, presented net sales for the quarter ended July 31, 2010 to be $2,007,000, an increase of 2.2% from the corresponding last year. Net sales for the quarter ended July 31, 2009 were $1,964,000. Net income for the quarter ended July 31, 2010, was at $249,000, a 22.06% increase from the corresponding quarter last year, which showed net income of $204,000. Earnings per share for the quarter ended July 31, 2010 were $0.05 per common share and $0.04 per common share for the corresponding quarter last year.
Production has begun on a new temper resistant Hold-Up Switch, the HD-1. This switch requires no key to reset, is jumper selectable for latching or non-latching and can include an end-of-line resistor. Engineering and our international representation are working on a modified version for the European market. Customer requests have prompted a new mold design on a miniature surface-mount contact switch with terminal blocks. Due to more customer requests the Company had added a stubby version to our 3/4" and 1" steel door recessed contacts.
Engineering is near completion on a garage door alert that monitors when a garage door has been left open and then automatically closes the door after a specified period of time. This timer function kicks in after each vehicle has left the garage and/or automatically closes at dusk. Design also continues on a 110-volt Current Controller that utilizes our contact switches to secure a storage unit door and turn on the light when the door is opened.
At George Risk Industries, Inc. latest Board of Directors meeting, a dividend of $0.20 per common share was declared. This dividend will be paid to stockholders of record as of September 30, 2010, and will be paid by October 31, 2010.
George Risk Industries, Inc. is engaged in the design, manufacture, and sales to distributors and OEM manufacturers of custom computer key boards, push button switches, burglar alarm components, pool alarms, thermostats, E-Z Duct wire cover, and hydro sensors. The company has representation in the United States, Canada, Europe and Africa.
CONTACT: George Risk Industries, Inc. Ken Risk, President and CEO 308-235-4645 800-523-1227