Universal Security Instruments: Rises after quarterly loss narrows

Universal Safety Products

20/08/2020 15:58

** Safety alarm maker's shares  UUU.A  rise 4.1% to $2 in
morning trade
    ** Posts Q1 loss of 3 cents/share vs loss of 26 cents/share
in 2019, helped by higher margins on sales, decreased tariffs
and lower interest cost  urn:newsml:reuters.com:*:nPn2HcwJwa
    ** Q1 revenue drops 32.3% to $2.9 mln from $4.3 mln in 2019
    ** "The company has received orders in the September quarter
which we expect will increase our sales over the comparable
September 2019 quarter," says CEO Harvey Grossblatt
    ** UUU shares up 222.5% YTD 
    

 (Reporting by Shivani Kumaresan in Bengaluru)
 ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))