UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
----------
FORM 10-Q
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended September 30, 2007
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from ____________ to ___________
Commission file number 0-1227
Chicago Rivet & Machine Co.
(Exact Name of Registrant as Specified in Its Charter)
Illinois 36-0904920
(State or Other Jurisdiction (I.R.S. Employer
of Incorporation or Organization) Identification No.)
901 Frontenac Road, Naperville, Illinois 60563
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code (630) 357-8500
Indicate by check mark whether the registrant: (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes X No
--- ---
Indicate by check mark whether the registrant is a large accelerated filer,
an accelerated filer, or a non-accelerated filer. See definition of accelerated
filer and large accelerated filer in Rule 12b-2 of the Exchange Act. (Check
one):
Large accelerated filer Accelerated filer Non-accelerated filer X
--- --- ---
Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Exchange Act). Yes No X
--- ---
As of September 30, 2007, 966,132 shares of the registrant's common stock were
outstanding.
CHICAGO RIVET & MACHINE CO.
INDEX
Page
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PART I. FINANCIAL INFORMATION (Unaudited)
Condensed Consolidated Balance Sheets at September 30, 2007 and
December 31, 2006 2-3
Condensed Consolidated Statements of Operations for the Three
and Nine Months Ended September 30, 2007 and 2006 4
Condensed Consolidated Statements of Retained Earnings for the
Nine Months Ended September 30, 2007 and 2006 5
Condensed Consolidated Statements of Cash Flows for the Nine
Months Ended September 30, 2007 and 2006 6
Notes to the Condensed Consolidated Financial Statements 7-9
Management's Discussion and Analysis of Financial Condition and
Results of Operations 10-11
Controls and Procedures 12
PART II. OTHER INFORMATION 13-19
1
Item 1. Financial Statements.
CHICAGO RIVET & MACHINE CO.
Condensed Consolidated Balance Sheets
September 30, 2007 and December 31, 2006
September 30, December 31,
2007 2006
------------- ------------
(Unaudited)
Assets
Current Assets:
Cash and cash equivalents $ 1,645,425 $ 367,581
Certificates of deposit 4,880,000 5,405,000
Accounts receivable, net of allowance
of $138,000 and $150,000, respectively 6,152,447 5,902,628
Inventories:
Raw materials 1,373,218 1,333,857
Work in process 2,084,356 1,907,653
Finished goods 2,106,159 2,239,799
----------- -----------
Total inventories 5,563,733 5,481,309
----------- -----------
Deferred income taxes 496,191 499,191
Prepaid income taxes -- 118,914
Other current assets 379,091 294,593
----------- -----------
Total current assets 19,116,887 18,069,216
----------- -----------
Property, Plant and Equipment:
Land and improvements 1,029,035 1,029,035
Buildings and improvements 6,373,387 6,321,609
Production equipment, leased
machines and other 28,127,457 29,411,746
----------- -----------
35,529,879 36,762,390
Less accumulated depreciation 26,210,372 26,925,130
----------- -----------
Net property, plant and equipment 9,319,507 9,837,260
----------- -----------
Total assets $28,436,394 $27,906,476
=========== ===========
See Notes to the Condensed Consolidated Financial Statements
2
CHICAGO RIVET & MACHINE CO.
Condensed Consolidated Balance Sheets
September 30, 2007 and December 31, 2006
September 30, December 31,
2007 2006
------------- ------------
(Unaudited)
Liabilities and Shareholders' Equity
Current Liabilities:
Accounts payable $ 1,435,894 $ 1,431,468
Accrued wages and salaries 852,304 693,442
Contributions due profit sharing plan 195,000 225,000
Accrued plant closing expenses 1,840 217,443
Other accrued expenses 276,853 259,680
----------- -----------
Total current liabilities 2,761,891 2,827,033
Deferred income taxes 987,275 1,076,275
----------- -----------
Total liabilities 3,749,166 3,903,308
----------- -----------
Commitments and contingencies (Note 4) -- --
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 1,138,096 1,138,096
Additional paid-in capital 447,134 447,134
Retained earnings 27,024,096 26,340,036
Treasury stock, 171,964 shares at cost (3,922,098) (3,922,098)
----------- -----------
Total shareholders' equity 24,687,228 24,003,168
----------- -----------
Total liabilities and shareholders' equity $28,436,394 $27,906,476
=========== ===========
See Notes to the Condensed Consolidated Financial Statements
3
CHICAGO RIVET & MACHINE CO.
Condensed Consolidated Statements of Operations
For the Three and Nine Months Ended September 30, 2007 and 2006
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
----------------------- -------------------------
2007 2006 2007 2006
---------- ---------- ----------- -----------
Net sales $9,020,453 $9,107,430 $29,051,926 $31,053,347
Lease revenue 23,150 25,033 69,573 77,433
---------- ---------- ----------- -----------
9,043,603 9,132,463 29,121,499 31,130,780
Cost of goods sold and costs
related to lease revenue 7,142,436 7,352,636 23,070,223 24,517,941
---------- ---------- ----------- -----------
Gross profit 1,901,167 1,779,827 6,051,276 6,612,839
Selling and administrative expenses 1,442,505 1,491,616 4,491,382 4,758,465
Plant closing expenses (459) 8,204 20,337 408,605
---------- ---------- ----------- -----------
Operating profit 459,121 280,007 1,539,557 1,445,769
Other income and expenses:
Interest income 77,380 66,572 224,837 176,490
Other income 3,600 3,600 11,378 12,730
---------- ---------- ----------- -----------
Income before income taxes 540,101 350,179 1,775,772 1,634,989
Provision for income taxes 168,000 112,000 570,000 539,000
---------- ---------- ----------- -----------
Net income $ 372,101 $ 238,179 $ 1,205,772 $ 1,095,989
========== ========== =========== ===========
Average common shares outstanding 966,132 966,132 966,132 966,132
========== ========== =========== ===========
Per share data:
Net income per share $ 0.39 $ 0.24 $ 1.25 $ 1.13
========== ========== =========== ===========
Cash dividends declared per share $ 0.18 $ 0.18 $ 0.54 $ 0.54
========== ========== =========== ===========
See Notes to the Condensed Consolidated Financial Statements
4
CHICAGO RIVET & MACHINE CO.
Condensed Consolidated Statements of Retained Earnings
For the Nine Months Ended September 30, 2007 and 2006
(Unaudited)
2007 2006
----------- -----------
Retained earnings at beginning of period $26,340,036 $25,915,024
Net income for the nine months ended 1,205,772 1,095,989
Cash dividends declared in the period,
$.54 per share in 2007 and 2006 (521,712) (521,712)
----------- -----------
Retained earnings at end of period $27,024,096 $26,489,301
=========== ===========
See Notes to the Condensed Consolidated Financial Statements
5
CHICAGO RIVET & MACHINE CO.
Condensed Consolidated Statements of Cash Flows
For the Nine Months Ended September 30, 2007 and 2006
(Unaudited)
2007 2006
------------ ------------
Cash flows from operating activities:
Net income $ 1,205,772 $ 1,095,989
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation 845,896 1,234,514
Net gain on the sale of equipment (25,022) (10,330)
Deferred income taxes (86,000) (209,000)
Changes in operating assets and liabilities:
Accounts receivable, net (249,819) (1,296,270)
Inventories (82,424) (243,297)
Other current assets 34,416 (116,521)
Accounts payable 4,426 159,361
Accrued wages and salaries 158,862 226,675
Accrued profit sharing contribution (30,000) 127,000
Other accrued expenses (198,430) 130,043
------------ ------------
Net cash provided by operating activities 1,577,677 1,098,164
------------ ------------
Cash flows from investing activities:
Capital expenditures (340,937) (1,154,760)
Proceeds from the sale of equipment 37,816 16,500
Proceeds from certificates of deposit 13,405,000 6,275,000
Purchases of certificates of deposit (12,880,000) (10,275,000)
------------ ------------
Net cash provided by (used in) investing activities 221,879 (5,138,260)
------------ ------------
Cash flows from financing activities:
Cash dividends paid (521,712) (521,712)
------------ ------------
Net cash used in financing activities (521,712) (521,712)
------------ ------------
Net increase (decrease) in cash and cash equivalents 1,277,844 (4,561,808)
Cash and cash equivalents at beginning of period 367,581 4,730,837
------------ ------------
Cash and cash equivalents at end of period $ 1,645,425 $ 169,029
============ ============
Supplemental schedule of non-cash investing activities:
Capital expenditures in accounts payable $ -- $ 33,061
See Notes to the Condensed Consolidated Financial Statements
6
CHICAGO RIVET & MACHINE CO.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
1. In the opinion of the Company, the accompanying unaudited interim financial
statements contain all adjustments necessary to present fairly the financial
position of the Company as of September 30, 2007 (unaudited) and December 31,
2006 (audited) and the results of operations and changes in cash flows for the
indicated periods.
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates.
2. The results of operations for the three and nine-month period ending
September 30, 2007 are not necessarily indicative of the results to be expected
for the year.
3. The Company extends credit on the basis of terms that are customary within
our markets to various companies doing business primarily in the automotive
industry. The Company has a concentration of credit risk primarily within the
automotive industry and in the Midwestern United States.
4. The Company is, from time to time, involved in litigation, including
environmental claims and contract disputes, in the normal course of business.
While it is not possible at this time to establish the ultimate amount of
liability with respect to contingent liabilities, including those related to
legal proceedings, management is of the opinion that the aggregate amount of any
such liabilities, for which provision has not been made, will not have a
material adverse effect on the Company's financial position.
5. The Company adopted the provisions of Financial Accounting Standards Board
Interpretation No. 48 "Accounting for Uncertainty in Income Taxes" ("FIN 48"),
on January 1, 2007. There was no effect on retained earnings related to this
adoption. Consistent with FIN 48, the Company classifies interest and penalties
related to unrecognized tax benefits as a component of income tax expense.
The Company's federal income tax returns for the 2005 and 2006 tax years are
subject to examination by the Internal Revenue Service ("IRS"). While it may be
possible that a reduction could occur with respect to the Company's unrecognized
tax benefits as an outcome of an IRS examination, management does not anticipate
any adjustments that would result in a material change to the results of
operations or financial condition of the Company. The 2004 federal income tax
return was examined by the IRS and no adjustments were made as a result of the
examination.
No statutes have been extended on any of the Company's federal income tax
filings. The statute of limitations on the Company's 2005 and 2006 federal
income tax returns will expire on September 15, 2009 and 2010, respectively.
The Company's state income tax returns for the 2004 through 2006 tax years
remain subject to examination by various state authorities with the latest
closing period on October 31, 2010. The Company is currently not under
examination by any state authority for income tax purposes and no statutes for
state income tax filings have been extended.
6. The Company recorded various charges during 2006 and 2007 related to the
closure of its Jefferson, Iowa facility. The facility had been operating below
capacity and after the transfer of production activities to Tyrone,
Pennsylvania, operations ceased in December 2006. As a result of the closure,
the Company recorded plant closing expenses of $422,934 in the year ended
December 31, 2006, and $20,337 in the period ended September 30, 2007.
The following is a summary of liabilities recorded on the accompanying balance
sheets as accrued plant closing expenses:
Severance Facility
and Benefits Closure Costs Total
------------ ------------- ---------
Balance at December 31, 2006 $ 177,074 $ 40,369 $ 217,443
Charge -- 21,157 21,157
Payments (174,414) (61,526) (235,940)
Non-cash reduction (820) -- (820)
--------- -------- ---------
Balance at September 30, 2007 $ 1,840 $ -- $ 1,840
--------- -------- ---------
7
CHICAGO RIVET & MACHINE CO.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
7. Segment Information--The Company operates in two business segments as
determined by its products. The fastener segment includes rivets, cold-formed
fasteners and screw machine products. The assembly equipment segment includes
automatic rivet setting machines, parts and tools for such machines and the
leasing of automatic rivet setting machines. Information by segment is as
follows:
Assembly
Fastener Equipment Other Consolidated
---------- ---------- ---------- ------------
Three Months Ended September 30, 2007:
Net sales and lease revenue $7,905,111 $1,138,492 $ -- $ 9,043,603
Depreciation 238,782 21,250 23,616 283,648
Segment profit 797,182 171,559 968,741
Selling and administrative expenses (506,479) (506,479)
Plant closing expenses 459 459
Interest income 77,380 77,380
-----------
Income before income taxes 540,101
-----------
Capital expenditures 31,267 1,459 -- 32,726
Segment assets:
Accounts receivable, net 5,631,651 520,796 6,152,447
Inventories 4,034,745 1,528,988 5,563,733
Property, plant and equipment, net 7,305,274 1,142,874 871,359 9,319,507
Other assets 7,400,707 7,400,707
-----------
28,436,394
-----------
Three Months Ended September 30, 2006:
Net sales and lease revenue $7,833,763 $1,298,700 $ -- $ 9,132,463
Depreciation 368,575 25,377 23,152 417,104
Segment profit 441,743 348,214 789,957
Selling and administrative expenses (498,146) (498,146)
Plant closing expenses (8,204) (8,204)
Interest income 66,572 66,572
-----------
Income before income taxes 350,179
-----------
Capital expenditures 194,275 -- 58,174 252,449
Segment assets:
Accounts receivable, net 5,907,432 759,449 6,666,881
Inventories 4,544,100 1,670,892 6,214,992
Property, plant and equipment, net 7,830,427 1,207,493 960,725 9,998,645
Other assets 6,051,883 6,051,883
-----------
28,932,401
-----------
8
CHICAGO RIVET & MACHINE CO.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
Assembly
Fastener Equipment Other Consolidated
----------- ----------- ----------- ------------
Nine Months Ended September 30, 2007:
Net sales and lease revenue $25,491,263 $ 3,630,236 $ -- $29,121,499
Depreciation 711,539 63,509 70,848 845,896
Segment profit 2,456,158 712,971 3,169,129
Selling and administrative expenses (1,597,857) (1,597,857)
Plant closing expenses (20,337) (20,337)
Interest income 224,837 224,837
-----------
Income before income taxes 1,775,772
-----------
Capital expenditures 316,971 23,966 -- 340,937
Nine Months Ended September 30, 2006:
Net sales and lease revenue $26,543,850 $ 4,586,930 $ -- $31,130,780
Depreciation 1,091,291 76,131 67,092 1,234,514
Segment profit 2,291,848 1,201,764 -- 3,493,612
Selling and administrative expenses (1,626,508) (1,626,508)
Plant closing expenses (408,605) (408,605)
Interest income 176,490 176,490
-----------
Income before income taxes 1,634,989
-----------
Capital expenditures 1,115,104 -- 72,717 1,187,821
9
CHICAGO RIVET & MACHINE CO.
Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations.
Net revenues in the third quarter of 2007 were $9,043,603, a decline of one
percent compared to 2006 when revenues were $9,132,463. While the fastener
segment recorded an increase in revenues of $71,348 during the period, the
decline in assembly equipment sales more than offset this improvement. Net
income improved in the third quarter of 2007 to $.39 per share from $.24 per
share in the year earlier period, despite lower revenues, primarily due to lower
operating expenses. Net revenues for the first nine months of 2007 were
$29,121,499, compared to $31,130,780 in 2006. Net income after three quarters
this year was $1,205,772, or $1.25 per share, compared with $1,095,989, or $1.13
per share, in 2006. The improvement in net income was primarily due to higher
plant closing expenses in the prior year and lower operating expenses in the
current year.
Within the fastener segment, third quarter revenues increased to $7,905,111
in 2007 from $7,833,763 in the third quarter of 2006, or 1%. This increase was
the result of improved sales to our non-automotive customers, as the domestic
automotive market continues to see lower production levels compared to the year
earlier period. The reduction of certain segment expenses in the current year
quarter further improved our operating results. Tooling expenses declined
$185,000 due to higher than normal tooling associated with new parts incurred in
the third quarter of 2006. Segment depreciation in the third quarter was
$130,000 lower than last year, as certain equipment became fully depreciated in
2006. Additionally, the transfer of production activities from Jefferson, Iowa
to Tyrone, Pennsylvania that was begun in the third quarter of 2006 resulted in
expense reductions due to the elimination of certain costs in the current year.
The combination of higher revenues and the overall reduction in operating
expenses resulted in an improvement in segment gross margin to approximately
$1,559,000 from $1,227,000 in the year earlier quarter.
For the first nine months of the year, fastener segment revenues were
$25,491,263, a decline of $1,052,587, or 4%, from the $26,543,850 reported for
2006. Year to date sales have been more negatively impacted by reduced demand
from automotive customers than third quarter results. However, the impact of
lower net sales was offset by reductions in certain operating expenses. The drop
in tooling expense during the third quarter has resulted in a year to date
reduction of $154,000 compared to 2006. Fastener segment depreciation has
declined $379,000 year to date. Due to a change in product mix, as well as
investments in equipment that have expanded our capabilities during the last
year, certain machining and parts sorting procedures that were formerly
outsourced are now being performed internally, contributing to a $468,000
reduction in outside production costs compared to last year. Additionally,
expediting and rejection expenses have declined $81,000. Lastly, the closing of
our Jefferson plant has resulted in additional reductions as certain costs were
eliminated. The net decline in operating expenses for the first nine months of
2007 effectively offset the revenue decline, leaving gross margins relatively
unchanged at $4,818,000 through three quarters.
Assembly equipment segment revenues totaled $1,138,492 in the third quarter
of 2007, a decline of $160,208, or 12%, compared to the third quarter of 2006,
when revenues were $1,298,700. Demand for our products in this segment continues
to be weak and the lower level of production activity, brought on by reduced
demand, resulted in a $210,000 decline in gross margin compared to the third
quarter of 2006. For the first nine months of 2007, revenues in this segment
amounted to $3,630,236, a $956,694 decline, or 21%, compared to the first nine
months of 2006 when net revenues totaled $4,586,930. In response to the lower
level of sales activity in 2007, we have implemented steps to reduce and control
expenses wherever possible, including reductions in both staffing levels and
work schedules. The cumulative effect of these actions has not been sufficient
to fully offset the effects of reduced volume and, as a result, gross margins
declined to $1,234,000 from $1,795,000 last year.
Selling and administrative expenses for the third quarter of 2007 were
$49,111 lower than during the third quarter of 2006. Salaries and related
benefits account for approximately $38,000 of the net decline due to reduced
headcount. The remaining net decrease in the quarter relates to various items
with smaller changes. On a year to date basis, selling and administrative
expenses have declined $267,083 compared with the first nine months of 2006. The
largest components of the year to date decline are salaries and wages of
$99,000, profit sharing expense, which declined $57,000 as a result of lower
profits in the current year after taking the plant closing expenses into
consideration, and legal fees which have declined $45,000, primarily due to
services in 2006 related to the Jefferson plant closing. The balance of the net
reduction is made up of a variety of smaller expense items.
Third quarter results include a net reduction in plant closing expenses of
$459, as certain health insurance obligations were lower than originally
estimated. This compares with a charge of $8,204 in the third quarter of 2006.
Total 2007 charges for the previously disclosed Jefferson, Iowa plant closing
amounted to $20,337. The first nine months of 2006 included charges totaling
$408,605. No further expenses related to the closing are expected.
10
Working capital at September 30, 2007 was approximately $16.3 million, an
improvement of $1.1 million from the beginning of the year. Holdings in cash,
cash equivalents and certificates of deposit at the end of the third quarter
totaled $6.5 million and account for $.8 million of the improvement in net
working capital, as capital outlays in the current year have declined a like
amount compared with 2006. Accounts receivable balances have increased by $.2
million this year, due to seasonal sales patterns where sales at the end of the
third quarter are typically greater than near the end of the year. Lastly, the
decline in accrued plant closing expenses of $.2 million was only partially
offset by the increase in other accrued expense items.
The Company has a $1.0 million line of credit, which expires May 31, 2008.
This line of credit remains unused. Management believes that current cash, cash
equivalents, operating cash flow and the available line of credit will provide
adequate working capital for the foreseeable future.
The increase in third quarter fastener segment sales, due to growth in our
non-automotive customer sales, was not enough to offset the sales decline for
that segment recorded in the first half of the year, as reductions in domestic
automotive production continue to constrain our sales growth. At the same time,
the assembly equipment segment continues to be weak as a result of the overall
decline in domestic manufacturing activity. Although the consolidation of our
Jefferson plant activities has resulted in cost savings related to better
utilization of plant capacity, these improvements are somewhat obscured by the
overall sales decline in 2007. While the markets in which we operate continue to
provide significant challenges, we will continue to make adjustments to our
activities while maintaining an emphasis on providing quality products along
with the technical expertise and customer service necessary to differentiate our
Company in the marketplace.
This discussion contains certain "forward-looking statements" which are
inherently subject to risks and uncertainties that may cause actual events to
differ materially from those discussed herein. Factors which may cause such
differences in events include, those disclosed under "Risk Factors" in our
Annual Report on Form 10-K and in the other filings we make with the United
States Securities and Exchange Commission. These factors, include among other
things: conditions in the domestic automotive industry, upon which we rely for
sales revenue, the intense competition in our markets, the concentration of our
sales to two major customers, the price and availability of raw materials, labor
relations issues, losses related to product liability, warranty and recall
claims, costs relating to environmental laws and regulations, the loss of the
services of our key employees and difficulties in achieving expected cost
savings. Many of these factors are beyond our ability to control or predict.
Readers are cautioned not to place undue reliance on these forward-looking
statements. We undertake no obligation to publish revised forward-looking
statements to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
11
CHICAGO RIVET & MACHINE CO.
Item 4. Controls and Procedures.
(a) Disclosure Controls and Procedures. The Company's management, with the
participation of the Company's Chief Executive Officer and Chief Financial
Officer, has evaluated the effectiveness of the Company's disclosure controls
and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under
the Securities Exchange Act of 1934, as amended (the "Exchange Act")) as of the
end of the period covered by this report. Based on such evaluation, the
Company's Chief Executive Officer and Chief Financial Officer have concluded
that, as of the end of such period, the Company's disclosure controls and
procedures are effective in recording, processing, summarizing and reporting, on
a timely basis, information required to be disclosed by the Company in the
reports that it files or submits under the Exchange Act.
(b) Internal Control Over Financial Reporting. There have not been any
changes in the Company's internal control over financial reporting (as such term
is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the
fiscal quarter to which this report relates that have materially affected, or
are reasonably likely to materially affect, the Company's internal control over
financial reporting.
12
PART II -- OTHER INFORMATION
Item 4. Exhibits
31 Rule 13a-14(a) or 15d-14(a) Certifications
31.1 Certification Pursuant to Rule 13a-14(a) or 15d-14(a), as Adopted
Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2 Certification Pursuant to Rule 13a-14(a) or 15d-14(a), as Adopted
Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32 Section 1350 Certifications
32.1 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant
to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant
to Section 906 of the Sarbanes-Oxley Act of 2002.
13
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CHICAGO RIVET & MACHINE CO.
(Registrant)
Date: November 7, 2007
/s/ John A. Morrissey
----------------------------------------
John A. Morrissey
Chairman of the Board of Directors
and Chief Executive Officer
Date: November 7, 2007
/s/ Michael J. Bourg
----------------------------------------
Michael J. Bourg
President, Chief Operating
Officer and Treasurer
(Principal Financial Officer)
14
CHICAGO RIVET & MACHINE CO.
EXHIBITS
INDEX TO EXHIBITS
Exhibit
Number Page
------- ----
31 Rule 13a-14(a) or 15d-14(a) Certifications
31.1 Certification Pursuant to Rule 13a-14(a) or 15d-14(a), as
Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 16
31.2 Certification Pursuant to Rule 13a-14(a) or 15d-14(a), as
Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 17
32 Section 1350 Certifications
32.1 Certification Pursuant to 18 U.S.C. Section 1350, as
Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 18
32.2 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 19
15