Acme United Corporation 2008 Annual Report
Acme UnitedUnited CorporationCorporation 2008 Annual ReportReport On the Cover The original titanium-bonded scissors, featuring blades that are three times harder than stainless steel and the trade- marked yellow and gray comfort handles, are the best selling scissors in North America. iPoint™ Curve Pencil Sharpener Westcott’s award-winning iPoint pencil sharpener is again leading the offi ce and school categories with a unique, contemporary shape and Microban® antimicrobial protection. Net Sales $ in thousands 68,719 63,173 56,863 49,946 34,975 0 2004 2005 2006 2007 2008 Rotary Laptop Trimmer With its unique fold-up design for “work anywhere” convenience, the Westcott laptop trimmer will cut many layers of paper with one swipe of the titanium-bonded blade. Financial Highlights (Amounts in thousands except per share data) 2006 2007 2008 Operating Results Net Sales $ 56,863 $ 63,173 $ 68,719 Net Income 3,886 4,022 4,467 Net Income Per Share 1.05 1.09 1.24 Financial Positions at December 31 Working Capital $ 25,461 $ 29,378 $ 29,820 Total Assets 35,021 42,222 45,424 Shareholders’ Equity 18,131 23,047 22,887 Dear Shareholders In 2008 Acme United delivered strong financial performance and had another record year. Revenue increased to $68.7 million in 2008 compared to $63.2 million in 2007. Net income was $4.5 million versus $4.0 million the prior year. Earnings per share increased to $1.24 in 2008 compared to $1.09 in 2007. Acme United’s financial position improved in 2008. Gross margins were strong, averaging 40.3% because of new product introductions and greater productivity.
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