ACME United Reports 16% Net Income Increase And 2% EPS Increase For Second Quarter Of 2021
Acme United Corporation (NYSE American: ACU) today announced that net sales for the quarter ended June 30, 2021 were $44.8 million compared to $44.0 million in the second quarter of 2020, an increase of 2%. Net sales for the six months ended June 30, 2021 were $88.4 million, compared to $79.8 million in the same period in 2020, an increase of 11%.
Net income (excluding the impact of the forgiveness of the Company’s Paycheck Protection Program (“PPP”) loan) was $3,723,000 or $0.94 per diluted share for the quarter ended June 30, 2021 compared to $3,199,000, or $0.92 per diluted share, for the comparable period last year, an increase of 16% in net income and 2% in diluted earnings per share. Net income (excluding the impact of the PPP loan forgiveness) for the six months ended June 30, 2021 was $5,769,000, or $1.46 per diluted share, compared to $4,476,000, or $1.28 per diluted share, in last year’s same period, increases of 29% and 14%, respectively.