Sales hurt by “particularly weak” sales to automotive customers “due to the global economic slowdown impacting many foreign countries.”
Tag "chicago rivet"
August 08
16:01
2019
Ongoing trade disputes and higher steel prices from tariffs cause double-digit declines in sales and profit.
May 20
23:00
2019
Chicago Rivet & Machine Co. reported sales dropped 12.1% to $7.6 million in the first quarter of 2020 “due to reduced demand for fastener segment parts, especially from automotive customers as the impact of the coronavirus pandemic (“COVID-19”) took hold.”
May 09
11:57
2019
“We have experienced increases in steel prices and other materials over the past year that have negatively impacted our gross margins and remain a concern as further increases are expected.”
March 21
12:56
2019
The company said fastener segment sales reflected growth in each quarter, with much of that growth coming from non-automotive customers.
November 07
13:57
2018
“In addition to higher raw material prices, we have also incurred higher than expected wages in the current year due to the tight labor market.”
August 16
17:20
2018
“We have experienced increases in steel prices, our primary raw material, in recent months that have negatively impacted our gross margins and remain a concern as further increases are expected.”
May 06
15:28
2018
“Improvement in automotive sales and the addition of a number of non-automotive customers in the second half of 2017 contributed to the revenue increase in the first quarter.”
November 06
17:59
2017
“The automotive sector is the primary market for our fastener segment products and the sales declines in the third quarter and year to date primarily relate to reduced sales to certain large automotive customers,” the company stated in its quarterly SEC filing.
August 09
12:12
2017
"Based on the current economic environment, we don’t believe overall business conditions during the second half of the year will be markedly different from those of the first half."
May 22
21:14
2017
Fastener segment revenues rose 3.4% despite a decline in U.S. auto and light-truck sales during the quarter.
March 16
21:29
2017
Fastener segment sales grew 0.16%, supported by modest growth in domestic automobile and light truck sales.
December 06
12:09
2016
“The increase in sales combined with favorable raw material prices resulted in improved margins,” the company stated.
