Business Description
George Risk Industries, Inc. (GRI or the Company) was incorporated in 1967 in
Colorado. The Company is presently engaged in the design, manufacture, and sale
of computer keyboards, push button switches, burglar alarm components and systems,
pool alarms, EZ Duct wire covers, water sensors and wire and cable installation
tools.
The Company designs, manufactures, and sells computer keyboards, push-button switches,
burglar alarm components and systems, pool alarms, water sensors, and wire and
cable installation tools. Their Telemark division, which concentrates on selling
products for security purposes, comprises of approximately 95 percent of net revenues
and are sold through distributors and alarm dealers/installers.
The security segment has approximately 1,000 current customers. One of the
distributors, ADI (which is a division of Honeywell International), accounts
for approximately 34.6 percent of the Company’s sales of these products.
Tri-Ed Distribution accounts for another 10.2 percent of Company sales. Loss
of these distributors would be significant to the Company. However, both companies
have purchased from the Company for many years and are expected to continue.
Also, the Company has obtained a written agreement with ADI. This agreement
was signed in February 2011 and initiated by the customer. The contents of the
agreement include product terms, purchasing, payment terms, term and termination,
product marketing, representations and warranties, product support, mutual confidentiality,
indemnification and insurance, and general provisions.
