Entering text into the input field will update the search result below

Acme United Corporation (ACU) CEO Walter Johnsen on Q4 2020 Results - Earnings Call Transcript

Mar. 03, 2021 3:24 PM ETAcme United Corporation (ACU)
SA Transcripts profile picture
SA Transcripts

Acme United Corporation (NYSE:ACU) Q4 2020 Earnings Conference Call March 3, 2021 12:00 PM ET

Company Participants

Walter Johnsen - Chief Executive Officer

Paul Driscoll - Chief Financial Officer

Conference Call Participants

Tim Call - Capital Management Corporation

Peter Mork - Mork Capital Management


Good day and welcome to the Acme United Corporation's Fourth Quarter 2020 Earnings Conference Call. At this time, I'd like to hand the conference over to Walter Johnsen. Please go ahead.

Walter Johnsen

Good morning. Welcome to the fourth quarter and year end 2020 earnings conference call for Acme United Corporation. I'm Walter C. Johnsen, Chairman and CEO. With me is Paul Driscoll, our Chief Financial Officer, who will first read Safe Harbor statement. Paul?

Paul Driscoll

Forward-looking statements in this conference call, including without limitation, statements related to the company's plans, strategies, objectives, expectations, intentions and adequacy of resources are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.

Investors are cautioned that such forward-looking statements involve risks and uncertainties, such as among others, those arising as a result of the effects of the COVID-19 pandemic, including the ongoing economic downturn, and the other risks and uncertainties described in our periodic filings with the Securities and Exchange Commission in our current earnings release.

Walter Johnsen

Thank you, Paul. Acme United had a record fourth quarter and year in 2020. Our net sales in the fourth quarter were $40.9 million, an increase of 21% over 2019. Our net income for the fourth quarter was $2 million, an increase of 109%. We had similar strong performance for the entire year. Net sales for 2020 were $164 million, an increase a 15% over last year, and net income increased 47%. Our earnings per share for 2020 were $2.31 compared to $1.60 last year, an increase of 44%.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.