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Universal Mfg. Co. Releases Annual Report

October 27, 2016

Universal Mfg. Co. (UFMG) released its Annual Report and Proxy Statement for fiscal year ending July 31, 2016 today. Overall results for UMC were significantly improved from prior year. Sales increased dramatically, 166% year over year, with operating income of $1.3 Million and net income after taxes of $322 Thousand. The Company also announced that Don Dunn, President & CEO will resign his positions as of December 31, 2016. Thomas Hance has been selected by the Board as the new President & CEO. Mr. Hance has spent his career developing and leading high performing organizations in numerous world class companies, and brings expertise in market and revenue creation, innovation, and operational excellence. Mr. Dunn will remain on the Board.

2015-16 Annual Report
2015-16 Proxy Statement

Universal Mfg. Co. Releases Third Quarter Report

June 14, 2016

Universal Mfg. Co. (UFMG) released its FY 2016 Third Quarter Report today. Sales for the quarter were $7.139 Million compared to $3.868 Million for the same period last year and $62.148 Million YTD compared to $15.022 Million PYTD. The consolidated operations reported a net loss of $1.271 Million for the quarter, $1.52 per diluted share, compared to net loss of $362 Thousand for the same period the prior year. Year to date net income was $1.356 Million compared to $221 Thousand PYTD. The balance sheet and income statement have been prepared on the basis of a retrospective application of a voluntary change in accounting policy relating to revenue recognition of the MLM operation. Results were impacted by a generally weak economy for capital items that drive the steel businesses. Don Dunn, President & CEO said, “Our team continues to mature as an operation since the purchase of the Shelby, NC businesses last year. We have incurred significant current period expenses that should benefit us long term in systems, engineering and marketing programs across all operations.” Dunn continued: “Sales opportunities continue to be strong; however, our closing rate continues to lag. We are disappointed with our performance this Quarter; we look to significantly improve operations and be prepared to take advantage of opportunities that present as we move forward.”

2015-16 3rd Quarter Report

Universal Mfg. Co. Releases Second Quarter Report

March 11, 2016

Universal Mfg. Co. (UFMG) released its FY 2016 Second Quarter Report today. Sales for the quarter were $16.43 Million compared to $5.90 Million for the same period last year and $55.01 Million YTD compared to $11.15 Million PYTD. The consolidated operations reported a net loss of $146 Thousand for the quarter, ($.18) per diluted share, compared to net income of $579 Thousand for the same period the prior year. Year to date net income was $2.63 Million compared to $582 Thousand PYTD. The balance sheet and income statement have been prepared on the basis of a retrospective application of a voluntary change in accounting policy relating to revenue recognition of the MLM operation. Results were impacted by a mild winter and a generally weak economy for capital items that drive the steel businesses. Don Dunn, President & CEO said, “Our team did an excellent job in completing contracts we assumed with the purchase of the Shelby, NC businesses last year. Unfortunately, we encountered costs not originally anticipated that hurt margins. Our team continues to work diligently to grow sales with some positive results that will be felt as we move forward. Our backlog at the end of our second Quarter was in excess of $25 Million.” Dunn continued: “Overall sales for the Quarter were 4.5% over budget although 5% under budget year to date; we continue in our efforts to improve our performance to bring margins in line with expectations.”

2015-16 2nd Quarter Report

Universal Mfg. Co. Releases First Quarter Report

December 10, 2015

Universal Mfg. Co. (UFMG) released its FY 2016 First Quarter Report today. Sales for the quarter were $38.58 Million compared to $5.26 Million for the same period last year. The consolidated operations reported net income of $2.77 Million for the quarter, $3.32 per diluted share, compared to net income of $3.07 Thousand for the same period the prior year. The balance sheet and income statement have been prepared on the basis of a retrospective application of a voluntary change in accounting policy relating to revenue recognition of the Man Lift operation. Results were materially and positively impacted by a previously announced large contract with the US Special Operations Command. Don Dunn, President & CEO said, “Our team did an excellent job in completing a significant contract on a very aggressive time schedule and within budget; they are all to be commended for their efforts.” Dunn indicated there is no immediate follow-on to the contract just completed, however, discussions continue with our military customers on new and additional work. Other operations were under budget due to weather and slippage in delivery dates. Dunn continued, “We do not anticipate our next quarter will be at the level of sales or profits we enjoyed this quarter; however, we do anticipate getting back on our budget through our next quarter.”

2015-16 1st Quarter Report

James W. Cluck, Jr., is Elected to Board of Directors of Universal Mfg. Co.

November 18, 2015

Universal Mfg. Co. (UFMG) held its annual meeting of shareholders yesterday in Lincoln, Nebraska. James W. Cluck, Jr., was elected to his first two year term on the Board. Mr. Cluck brings to the Board over 41 years of combined military and civilian Federal service, including 29 years’ experience in the Department of Defense. Robert Scott, Chairman of the Board said, “We welcome Jim to the Board and look forward to his guidance and contribution as our Company evolves with our recent acquisition of Ultra Armoring and its Department of Defense work.” Scott continued, “We also want to thank Paul Luber for his invaluable service as a member of the Board; his insight and understanding of our operations and manufacturing processes will be missed.” Mr. Luber decided to not stand for reelection as his two year term on the Board expired. Mr. Scott and Donald Dunn, President & CEO were also reelected to two year terms on the Board.