$CVR

CHICAGO RIVET & MACHINE CO

CIK:0000019871|SEC Filings

Condensed Consolidated Statements of Operations (unaudited) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Condensed Consolidated Statements of Operations (Unaudited)

Net sales

$ 7,236,625

$ 7,298,077

$ 14,088,141

$ 14,543,712

Cost of goods sold

6,673,313

6,323,015

12,566,371

11,910,909

Gross profit

563,312

975,062

1,521,770

2,632,803

Selling and administrative expenses

1,597,023

1,392,493

2,937,073

2,980,060

Gain on sale of property

(339,520)

^[1]

Operating loss

(1,033,711)

(417,431)

(1,415,303)

(7,737)

Other income

62,387

2,383

64,321

14,070

(Loss) income before income taxes

(971,324)

(415,048)

(1,350,982)

6,333

Provision (benefit) for income taxes

18,204

(20,068)

561

291

Net (loss) income

$ (989,528)

$ (394,980)

$ (1,351,543)

$ 6,042

Net (loss) income per common share:

Basic

$ (1.02)

$ (0.41)

$ (1.4)

$ 0.01

Diluted

$ (1.02)

$ (0.41)

$ (1.4)

$ 0.01

Basic

966,132

Diluted

966,132

Cash dividends declared per share

$ 0

$ 0.03

$ 0.06

[1]	Includes a one-time gain of $339,520 in the Assembly Equipment segment, from the sale of the Albia manufacturing facility in February 2025.

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net (loss) income	$ (1,351,543)	$ 6,042
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation	583,224	621,765
Non-cash lease expense	(1,630)	25,325
Gain on disposal of assets, net	(16,568)	(339,520)
Provision for credit losses	(26,812)	(58,798)
Changes in operating assets and liabilities:
Accounts receivable	(1,555,645)	(1,687,147)
Contract assets	55,497	28,904
Inventories, net	(166,048)	55,960
Other current assets	10,790	(27,966)
Accounts payable	986,244	(386,017)
Accrued wages and salaries	112,821	103,456
Other accrued liabilities	(7,750)	(28,195)
Unearned revenue and customer deposits	(159,927)	(86,119)
Other long-term liabilities	(220,000)	(220,049)
Net cash used in operating activities	(1,757,347)	(1,992,359)
Cash flows from investing activities:
Capital expenditures	(189,154)	(93,703)
Proceeds from the sale of assets	28,000	687,905
Proceeds from short-term investments	0	247,276
Net cash (used in) provided by investing activities	(161,154)	841,478
Cash flows from financing activities:
Proceeds from debt	1,000,000	500,000
Cash dividends paid	(28,984)	(57,968)
Net cash provided by financing activities	971,016	442,032
Net decrease in cash and cash equivalents	(947,485)	(708,849)
Cash and cash equivalents at beginning of period	1,718,237	1,922,679
Cash and cash equivalents at end of period	770,752	1,213,830
Supplemental disclosure of cash flows information:
Cash paid for interest	26,299	7,201
Cash paid for income taxes, net of refunds received	$ 2,087	$ 21,855

Condensed Consolidated Balance Sheets (unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 770,752	$ 1,718,237
Accounts receivable - less allowances of $128,188 and $155,000	5,159,423	3,576,966
Contract assets	0	55,497
Inventories, net	6,337,028	6,170,980
Assets held for sale	179,254	179,254
Income taxes receivable	45,476	43,949
Other current assets	486,123	498,440
Total current assets	12,978,056	12,243,323
Property, plant and equipment, net	9,235,938	9,641,440
Deferred income taxes, net	1,001,242	1,001,242
Operating lease right-of-use asset, net	338,989	371,464
Deposits with vendors	43,970	43,970
Total assets	23,598,195	23,301,439
Current liabilities:
Accounts payable	1,728,536	742,292
Accrued wages and salaries	604,734	491,913
Other accrued liabilities	240,681	248,431
Unearned revenue and customer deposits	103,023	262,950
Current portion of operating lease liability	105,246	103,420
Current portion of line of credit	1,500,000	500,000
Total current liabilities	4,282,220	2,349,006
Operating lease liability - noncurrent	281,612	317,543
Deferred income taxes, net	1,141,588	1,141,588
Other long-term liabilities	440,000	660,000
Total liabilities	6,145,420	4,468,137
Commitments and contingencies (Note 3)
Shareholders' Equity
Preferred stock, no par value, 500,000 shares authorized: none outstanding
Common stock, $1.00 par value, 4,000,000 shares authorized, 1,138,096 shares issued; 966,132 shares outstanding as of June 30, 2026 and December 31, 2025	1,138,096	1,138,096
Additional paid-in capital	447,134	447,134
Retained earnings	19,789,643	21,170,170
Treasury stock, 171,964 shares at cost	(3,922,098)	(3,922,098)
Total shareholders' equity	17,452,775	18,833,302
Total liabilities and shareholders' equity	$ 23,598,195	$ 23,301,439