Dallas, Texas 11/08/2013 (Financialstrend) – CompX International Inc. (NYSEMKT:CIX) has announced that in the third quarter of 2013, it has posted sales of $24.2 million as against sales of only $21.3 million a year ago. It has also announced that it will continue to pay its quarterly dividend of $0.05 cents per share for both Class A as well as Class B of the common stock. These are payable for December 17, 2013 to all shareholders as on December 5, 2013. The dividend is in line with the regular dividend payable by the company and has not been revised.
CompX is one of the better known names in manufacture of security products as well as entertainment recreational components for the marine industry and operates from four centres across the country. Its workforce numbers more than 500 and is known to offer innovative product range in this segment.
According to the CEO, the results are indicative of the bettering of the overall profit margin for the company, especially in the context of the previous year. The progress recorded by CompX in its Marine Components category is due to the increase in the market share of this segment. Marine component product development differentiates CompX from others in the industry. Though, the industry too suffers from the ailments of the economic environment currently existing in the country, CompX has overcome them by product specialization, cost-cutting on its operations and a focussed, strategic business move to Security products.
The overall product innovation in this category has helped CompX buttress its profit-margins and also move ahead of the competition in this category. The company foresees that there is higherrisks in the industry even though there is production innovation. The security products industry is largely at the command of the political and economic scenario of the country and therefore, sales of products are subject to market conditions.