Business Context and Reporting Period
Chicago Rivet & Machine Co. (Amex: CVR) filed this Form 8-K on March 21, 2005, to announce its financial results for the fourth quarter and full fiscal year ended December 31, 2004.
Key Financial Metrics
| Metric | Q4 2004 | Q4 2003 | Full Year 2004 | Full Year 2003 |
|---|---|---|---|---|
| Net Sales and Lease Revenue | $9,501,651 | $9,116,759 | $39,232,866 | $38,190,908 |
| Income Before Taxes | $367,555 | $192,234 | $2,315,434 | $1,242,527 |
| Net Income | $244,555 | $125,234 | $1,523,434 | $817,527 |
| Net Income Per Share | $0.26 | $0.13 | $1.58 | $0.85 |
| Average Shares Outstanding | 966,132 | 966,132 | 966,132 | 966,132 |
Note: The filing text does not provide specific values for cash flow, debt levels, liquidity ratios, or gross margins.
Material Changes
- Revenue Growth: Full-year net sales increased by approximately 2.7% compared to 2003. Fourth-quarter sales rose by approximately 4.2%.
- Profitability Surge: Full-year net income increased significantly by approximately 86% year-over-year. Fourth-quarter net income more than doubled, rising approximately 95%.
- Earnings Per Share: Full-year EPS increased by 86% to $1.58, while Q4 EPS doubled to $0.26.
Guidance, Outlook, and Risks
The provided filing text contains no forward-looking guidance, management commentary on future outlook, specific risk factors, or discussion of contingencies and unusual items beyond the presentation of historical results.
Investor Verification Checklist
- Verify the full text of the attached press release (Exhibit 99.1) for any qualitative context regarding the profit surge not captured in the summary table.
- Confirm the company's current debt position and liquidity status, as these metrics are absent from this specific 8-K summary.
- Review the audited annual report (10-K) for the fiscal year ended December 31, 2004, to analyze cash flow statements and balance sheet details.
- Check for any subsequent filings regarding the company's operational status or market conditions post-March 2005.