IIoT Provider Sierra Monitor Corporation Declares Quarterly Dividend

On July the 15th, Sierra Monitor Corporation (OTC: SRMC) declared a quarterly dividend of $0.01 per share. All shareholders on record as of August the 1st, 2016 will be paid on August the 16th. The dividend will make the sixth consecutive quarter the company has been able to pay dividends to their stockholders. Sierra Monitor is a provider of industrial Internet of things solutions and mainly accommodates industrial and commercial markets.

The company is based out of Milpitas, California and was founded in 1979. Sierra first went public in 1989. Sierra’s products are primarily utilized for risk management purposes and to protect a company’s personnel and facilities. Among their offerings, the company provides clients with manufacturing safety and automation, as well as building and campus automation solutions.

Over the past 52-weeks, SRMC stock has fluctuated between $1.22 and $2.00. As of the time of this writing, the stock currently sits at $1.60. The company last reported their earnings on May 16, 2016 for the period ending on March the 31st 2016. During the 3 months ending on March 31st, the company brought in net sales of $4,540,997, with $4,927,787 for the same quarter the previous year. The figures equate to an 8% decrease.

The company also experienced a decrease in sales of their gas detection products, as well as their FieldServer line. For the former, an approximate decrease of 11% was experienced. Sales for the FieldServer decreased by 5%. Gross profit for the three month period totaled $2,628,217, whereas the company generated a gross profit of $2,945,850 for the same quarter last year. Additional information and press releases from the company can be found, by visiting the company’s Investors Relations page here.