Dallas, Texas, May 07, 2024 (GLOBE NEWSWIRE) -- CompX International Inc. (NYSE:CIX) announced today sales of $38.0 million for the first quarter of 2024 compared to $41.2 million in the same period of 2023. Operating income was $3.7 million in the first quarter of 2024 compared to $7.0 million in the same period of 2023. Net income was $3.7 million, or $.31 per basic and diluted common share, for the first quarter of 2024 compared to $6.1 million, or $.49 per basic and diluted common share, in the same period of 2023. Net sales decreased in the first quarter of 2024 compared to the same period in 2023 due to lower Marine Components sales primarily to the towboat market, partially offset by higher Security Products sales to the government security market. Operating income decreased during the first quarter of 2024 predominantly due to lower Marine Components sales and gross margin. CompX is a leading manufacturer of security products and recreational marine components. It operates from three locations in the U.S. and employs approximately 540 people. Forward-Looking Statements The statements in this press release relating to matters that are not historical facts are forward-looking statements that represent management's belief and assumptions based on currently available information. Although we believe the expectations reflected in such forward-looking statements are reasonable, we cannot give any assurances that these expectations will be correct. Such statements, by their nature, involve substantial risks and uncertainties that could significantly impact expected results, and actual future results could differ materially from those predicted. While it is not possible to identify all factors, we continue to face many risks and uncertainties. The factors that could cause our actual future results to differ materially include, but are not limited to, the following: Future demand for our products, Changes in our raw material and other operating costs (such as zinc, brass, aluminum, steel and energy costs) and our ability to pass those costs on to our customers or offset them with reductions in other operating costs, Price and product competition from low-cost manufacturing sources (such as China), The impact of pricing and production decisions, Customer and competitor strategies including substitute products, Uncertainties associated with the development of new products and product features, Future litigation, Our ability to protect or defend our intellectual property rights, Potential difficulties in integrating future acquisitions, Decisions to sell operating assets other than in the ordinary course of business, Environmental matters (such as those requiring emission and discharge standards for existing and new facilities), The ...