ACME United Reports 11% Sales Increase And 30% Net Income Increase For Third Quarter Of 2021
Acme United Corporation (NYSE American: ACU) today announced that net sales for the quarter ended September 30, 2021 were $47.9 million compared to $43.3 million in the third quarter of 2020, an increase of 11%. Net sales for the nine months ended September 30, 2021 were $136.3 million, compared to $123.1 million in the same period in 2020, an increase of 11%.
Net income was $2,046,000 or $0.50 per diluted share for the quarter ended September 30, 2021 compared to $1,579,000, or $0.46 per diluted share, for the comparable period last year, an increase of 30% in net income and 9% in diluted earnings per share. Net income (excluding the impact of the PPP loan forgiveness) for the nine months ended September 30, 2021 was $7,814,000, or $1.97 per diluted share, compared to $6,055,000, or $1.75 per diluted share, in last year’s same period, increases of 29% and 13%, respectively. Net income for the nine months ended September 30, 2021, including the PPP loan forgiveness, was $11.3 million, or $2.85 per diluted share.