Acme United Corporation (NYSE MKT:ACU) today announced that net sales for the fourth quarter ended December 31, 2012 were $19.5 million, compared to $15.8 million in the comparable period of 2011, an increase of 23%.
Net income was $431,000, or $.14 per diluted share, for the quarter ended December 31, 2012, compared to $266,000 or $.09 per diluted share, for the comparable period last year, an increase of 62% in net income and 56% in diluted earnings per share.
Net sales for the year ended December 31, 2012 were $84.4 million, compared to $73.3 million in 2011, an increase of 15%.
Net income for the year ended December 31, 2012 was $3,549,000, or $1.13 per diluted share, compared to $2,811,000, or $.91 per diluted share last year, a 26% increase in net income and 24% increase in diluted earnings per share.Net sales in the U.S. segment for the quarter and year ended December 31, 2012 increased 27% and 20%, respectively, compared to the same periods in 2011. The increases for both periods were primarily due to greater sales of pencil sharpeners, paper trimmers, first aid kits and new sales resulting from the C-Thru Ruler acquisition in June, 2012. Revenues from new distribution of Camillus knives at major retailers also contributed to the growth. Net sales in Canada for the three months ended December 31, 2012 increased 10% in U.S. dollars (7% in local currency) compared to the same period in 2011. Net sales in Canada for the year ended December 31, 2012 increased 3% in U.S. dollars (5% in local currency) compared to 2011. The increased sales in Canada for both periods were primarily due to the introduction of Camillus knives. European net sales for the three months ended December 31, 2012 increased 16% in U.S. dollars (25% in local currency), compared to the same period last year. European net sales for the year ended December 31, 2012 decreased 1% in U.S. dollars but increased 9% in local currency compared to last year. The increased sales in Europe for both periods were primarily due to higher sales in the mass market channel.
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