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News
Acme United Reports 21% Sales Increase And Record 109% Net Income Increase For Fourth Quarter Of 2020
03/03/2021
Acme United Corporation (NYSE American: ACU) today announced that net sales for the quarter ended December 31, 2020 were $40.9 million compared to $33.9 million in the fourth quarter of 2019, an increase of 21%. Net sales for the year ended December 31, 2020 were $164.0 million, compared to $142.5 million in the year ended December 31, 2019, an increase of 15%.
Acme United’s revenues in the fourth quarter and year ended December 31, 2020 included approximately $1.2 million and $4.6 million, respectively, from the sales of First Aid Central products. The Company acquired the assets of Canadian-based First Aid Central, Inc. on January 7, 2020.
Net income was $2,043,000 or $0.54 per diluted share for the quarter ended December 31, 2020, compared to $977,000, or $0.28 per diluted share, for the comparable period last year, an increase of 109% in net income and 93% in diluted earnings per share. Net income for the year ended December 31, 2020 was $8.1 million, or $2.31 per diluted share, compared to $5.5 million, or $1.60 per diluted share, for the prior year, an increase of 47% in net income and 44% in diluted earnings per share.
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