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News
Acme United Reports 12% Sales Increase And 14% Net Income Increase For Fourth Quarter Of 2021
03/01/2022
Acme United Corporation (NYSE American: ACU) today announced that net sales for the quarter ended December 31, 2021 were $45.8 million compared to $40.9 million in the fourth quarter of 2020, an increase of 12%. Net sales for the year ended December 31, 2021 were $182.1 million, compared to $164.0 million in the year ended December 31, 2020, an increase of 11%.
Net income was $2,338,000 or $0.60 per diluted share for the quarter ended December 31, 2021 compared to $2,043,000, or $0.54 per diluted share, for the comparable period last year, an increase of 14% in net income and 11% in diluted earnings per share. Excluding the impact of the PPP loan forgiveness, net income for the year ended December 31, 2021 was $10,148,000, or $2.57 per diluted share, compared to $8,099,000, or $2.31 per diluted share, in last year’s same period, increases of 25% and 11%, respectively. Net income for the year ended December 31, 2021, including the PPP loan forgiveness, was $13.7 million, or $3.45 per diluted share, increases of 69% and 49%, respectively.
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