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Universal Mfg. Co. Releases Annual Report

October 10, 2014

Universal Mfg. Co. (UFMG) released its Annual Report and Proxy Statement for fiscal year ending July 31, 2014 today. Overall results for the Company including its wholly owned subsidiary Man Lift Mfg. Co., were substantially improved over prior year and exceeded fiscal year budget overall. Donald L. Dunn, President & CEO reported that sales grew to $27.7 Million, increasing by almost 20% year over year and net after tax income increased 118% year over year to $1.671 Million or $1.96 per share on a fully diluted basis. Gross profit rose to 27.7% from 21.9% the prior year and Operating Income for the year was 10.1% compared to 6.1% the prior year. Increased sales was principally achieved through growth in revenue at Man Lift with sales growing from $12.9 Million in FY2013 to $16.9 Million this year. Retech sales from continuing operations increased year over year from $10.2 Million in FY 2013 to $10.8 Million in FY2014. Dunn said, "we had an excellent year and look forward to continuing our growth as we move forward. Maintaining margins at such levels will be difficult as we continue to invest in our people, our systems and our facilities to keep pace with our continued growth." Dunn continued, "When you take into account the improvements we made in our balance sheet, the year was even more impressive. It continues to be gratifying to see the hard work of so many dedicated employees reflected in our results."

2013-14 Annual Report
2013-14 Proxy Statement

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