CompX International Q3 sales rise 10% on marine components demand
Overview
U.S. security products and marine components maker's Q3 sales rose to $44 mln from $40 mln
Q3 net income increased to $5.4 mln from $4.2 mln last year
Sales growth driven by higher Marine Components and Security Products demand
Outlook
CompX did not provide specific guidance for future quarters or the full year in its press release
Result Drivers
MARINE COMPONENTS DEMAND - Co said higher sales to towboat and industrial markets drove Q3 revenue growth
GROSS MARGIN IMPROVEMENT - Co attributed higher operating income to improved gross margin at Security Products and Marine Components
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | $44 mln | ||
Q3 Net Income | $5.40 mln | ||
Q3 Operating income | $6.40 mln |
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)