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Last $6.01 USD
Change Today +0.007 / 0.12%
Volume 600.0
As of 8:04 PM 08/3/15 All times are local (Market data is delayed by at least 15 minutes).

universal security instrumnt (UUU) Key Developments

Universal Security Instruments, Inc. Announces Notice of Noncompliance with NYSE MKT Continued Listing Standards

Universal Security Instruments, Inc. announced that, on July 15, 2015, the Company received a letter from NYSE MKT LLC stating that the Exchange has determined that the Company is not in compliance with Sections 134 and 1101 of the Exchange's Company Guide due to the Company's failure to timely file its Annual Report on Form 10-K for the fiscal year ended March 31, 2015 with the Securities and Exchange Commission (the "SEC"). The letter also states that the Company's failure to timely file its Annual Report on Form 10-K is a material violation of its listing agreement with the Exchange and, therefore, pursuant to Section 1003(d) of the Company Guide, the Exchange is authorized to suspend and, unless prompt corrective action is taken, remove the Company's securities from the Exchange. The Exchange has informed the Company that, in order to maintain its listing on the Exchange, the Company must, by July 29, 2015, submit a plan of compliance addressing how it intends to regain compliance with Sections 134 and 1101 of the Company Guide by October 13, 2015. If the Company's 10-K Plan is accepted by the Exchange, then the Company will be able to continue its listing during the 10-K Plan Period, during which time the Company will be subject to periodic review to determine whether it is making progress consistent with the 10-K Plan. If the Company does not submit a Plan, or if the Company's 10-K Plan is not accepted by the Exchange, then the Company will be subject to delisting proceedings. Furthermore, if the 10-K Plan is accepted by the Exchange, but the Company is not in compliance with the continued listing standards of the Company Guide by October 13, 2015, or if the Company does not make progress consistent with the 10-K Plan during the 10-K Plan Period, then the Exchange staff will initiate delisting proceedings as appropriate. The Company is working diligently to submit the 10-K Plan by July 29, 2015 and regain compliance with the Company Guide.

Universal Security Instruments Inc. Provides Consolidated Earnings Guidance for Fourth Quarter and Full Year Ended March 31, 2015

Universal Security Instruments Inc. provided consolidated earnings guidance for fourth quarter and full year ended March 31, 2015. For the quarter, the company expects net loss of approximately $748,500, or $0.32 per basic and diluted share, on sales of $2,782,210.  This compares to a net loss of $1,504,306 or $0.65 per basic and diluted share, on sales of $2,636,933 for the comparable period of the previous year. For the full year, sales to decrease approximately 21% to $9,891,554 versus $12,577,127 for the same period last year. The company expects to report a net loss of approximately $3,704,985 or $1.60 per basic and diluted share, versus a net loss of $4,450,224 or $1.94 per basic and diluted share, for the same period last year.

Universal Security Instruments Inc. announced delayed annual 10-K filing

On 06/29/2015, Universal Security Instruments Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.

Universal Security Instruments Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2014

Universal Security Instruments Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2014. For the quarter, the company reported a net loss of $999,734, or $0.43 per basic and diluted share, on net sales of $2,371,016, compared to a net loss of $367,191, or $0.16 per basic and diluted share, on net sales of $3,738,914 for the same period last year.  The primary reason for the increase in the company's net loss was lower sales caused by the delay in the introduction of the Company's new sealed battery alarm products. For the nine months, the company’s sales were $7,109,344 against $9,940,194 for the same period last year. The company reported a net loss of $2,696,795 or $1.17 per basic and diluted share, compared to a net loss of $2,945,939, or $1.29 per basic and diluted share. The primary reason for the increase in the company's net loss was lower sales caused by the delay in the introduction of the Company's new sealed battery alarm products.

Universal Security Instruments Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2014

Universal Security Instruments Inc. reported unaudited consolidated earnings results for the second quarter and six months ended September 30, 2014. For quarter, sales were $2,223,943 compared to $3,195,611 a year ago. Net loss was $954,212 or $0.41 basic and diluted per share compared to $2,559,218 or $1.12 basic and diluted per share a year ago. For six months, sales were $4,738,328 compared to $6,201,280 a year ago. Net loss was $1,697,061 or $0.73 basic and diluted per share compared to $2,578,748 or $1.13 basic and diluted per share a year ago.

 

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