Universal Security Instruments Reports Fourth-Quarter and Year-End Results
OWINGS MILLS, Md. June 23, 2010 - Universal Security Instruments, Inc. (NYSE Amex: UUU) today
announced results for its fourth quarter and fiscal year ended March 31, 2010.
Universal reported fourth quarter net income of $468,223, or $0.20 per basic and diluted share, on sales of
$6,301,918. This compares to net income of $78,150, or $0.03 per basic and diluted share, on sales of
$5,928,367 for the comparable period of the previous year. Included in last year’s results was income from
discontinued operations of $41,767.
For the 12 months ended March 31, 2010, sales were $26,439,118 versus $26,097,596 for the same period
last year. The Company reported net earnings of $2,268,048 or $0.95 per basic and diluted share versus net
income of $4,865,357 or $1.97 per basic and $1.96 per diluted share for the same period last year. Included in
the March 31, 2009 results was a gain of $3,423,021 from discontinued operations. The Company’s book
value at March 31, 2010 has increased to $10.96 per share versus $9.95 per share at March 31, 2009.
“We are very pleased with the Company’s performance during the past fiscal year, particularly in light of the
challenges the economy has created. Included in our results is approximately $500,000 of research and
development expenses, which we expended for new product development, and we expect to spend another
$400,000-$600,000 in this fiscal year to complete the development and testing of our new product line,” said
Harvey Grossblatt, Chairman and CEO of Universal.
Universal previewed approximately 25 new products in May at the International Hardware Show in Las Vegas
and received very positive feedback from our customers. Initial deliveries of several of these products should
begin in the September time frame.
UNIVERSAL SECURITY INSTRUMENTS, INC. is a U.S.-based manufacturer (through its Hong Kong Joint
Venture) and distributor of safety and sec