UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-QSB
(Mark One)
[ X ] Quarterly report under Section 13 or 15(d) of the Securities Ex-
change Act of 1934
For the quarter ended October 31, 2005
[ ] Transition report under Section 13 or 15(d) of the Securities Ex-
change Act of 1934
For the transition period from ___________ to ____________
Commission File Number: 0-5378
GEORGE RISK INDUSTRIES, INC.
(Exact name of small business issuer as specified in its charter)
Colorado 84-0524756
(State of incorporation) (IRS Employers Identification No.)
802 South Elm St.
Kimball, NE 69145
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (308) 235-4645
APPLICABLE ONLY TO CORPORATE ISSUERS
The number of shares of the Registrant's Common Stock outstanding, as of
December 15, 2005 was 5,361,053.
Transitional Small Business Disclosure Format: Yes [ X ] No [ ]
GEORGE RISK INDUSTRIES, INC.
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
The unaudited financial statements for the three and six month period
ended October 31, 2005, are attached hereto.
GEORGE RISK INDUSTRIES, INC.
BALANCE SHEET
OCTOBER 31, 2005
ASSETS
Current Assets
Cash and cash equivalents $ 5,367,000
Marketable securities (Note 2) 12,615,000
Accounts receivable:
Trade, net of $50,000 doubtful account allowance 2,147,000
Vendor 1,000
Other 2,000
Inventories (Note 3) 2,059,000
Prepaid expenses 135,000
Property tax overpayment 4,000
Deferred income taxes 164,000
------------
Total Current Assets $22,494,000
Property and Equipment, net at cost $ 921,000
Other Assets
Investment in Land Limited Partnership, at cost 200,000
Projects in process 37,000
Other 7,000
------------
Total Other Assets $ 244,000
TOTAL ASSETS $23,659,000
============
GEORGE RISK INDUSTRIES, INC.
BALANCE SHEET
OCTOBER 31, 2005
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable, trade $ 101,000
Dividends payable 49,000
Notes payable, current 58,000
Accrued expenses
Payroll and related expenses 384,000
Income tax payable 77,000
------------
Total Current Liabilities $ 669,000
Long-Term Liabilities
Dividends payable 45,000
Deferred income taxes 47,000
------------
Total Long-Term Liabilities $ 92,000
Stockholders' Equity
Convertible preferred stock, 1,000,000 shares
authorized, Series 1-noncumulative, $20 stated
value, 25,000 shares authorized, 4,100 issued
and outstanding 99,000
Common stock, Class A, $.10 par value, 10,000,000
shares authorized, 8,502,832 shares issued and
outstanding 850,000
Additional paid-in capital 1,736,000
Accumulated other comprehensive income (690,000)
Retained earnings 22,835,000
Treasury stock, 3,140,679 shares, at cost (1,932,000)
------------
Total Stockholders' Equity $22,898,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $23,659,000
============
GEORGE RISK INDUSTRIES, INC.
STATEMENT OF INCOME AND RETAINED EARININGS
Three months Six months Three months Six months
ended ended ended ended
October 31, October 31, October 31, October 31,
2005 2005 2004 2004
----------------------------------------------------
Net Sales $ 3,636,000 $ 7,047,000 $ 3,277,000 $ 6,373,000
Less: cost of goods sold (1,734,000) (3,393,000) (1,501,000) (2,998,000)
------------ ------------ ------------ ------------
Gross Profit $ 1,902,000 $ 3,654,000 $ 1,776,000 $ 3,375,000
Operating Expenses:
General and
administrative 180,000 345,000 169,000 339,000
Selling 604,000 1,220,000 590,000 1,210,000
Engineering 18,000 37,000 23,000 37,000
Rent paid to related
parties 12,000 28,000 11,000 26,000
------------ ------------ ------------ ------------
Total Operating Expenses $ 814,000 $ 1,630,000 $ 793,000 $ 1,612,000
Income From Operations 1,088,000 2,024,000 983,000 1,763,000
Other Income (Expense)
Other 46,000 47,000 (1,000) (1,000)
Dividend and interest
income 86,000 192,000 69,000 151,000
Gain (loss) on
investments (22,000) 2,000 27,000 10,000
------------ ------------ ------------ ------------
$ 110,000 $ 241,000 $ 95,000 $ 160,000
Income Before Provisions
for Income Tax 1,198,000 2,265,000 1,078,000 1,923,000
Provisions for Income Tax
Current expense (501,000) (962,000) (451,000) (803,000)
Deferred tax (benefit)
expense 14,000 14,000 0 0
------------ ------------ ------------ ------------
Total Income Tax Expense $ (487,000) $ (948,000) $ (451,000) $ (803,000)
Net Income $ 711,000 $ 1,317,000 $ 627,000 $ 1,120,000
Retained Earnings,
beginning of period $22,660,000 $22,054,000 $20,572,000 $20,079,000
Less: Cash Dividends
Common Stock
($0.10 per share) (536,000) (536,000) (540,000) (540,000)
Retained Earnings,
end of period $22,835,000 $22,835,000 $20,659,000 $20,659,000
Income Per Share of Common
Stock: (Note 6)
Basic $ .13 $ .25 $ .12 $ .21
Assuming Dilution $ .13 $ .24 $ .12 $ .21
GEORGE RISK INDUSTRIES, INC.
STATEMENT OF COMPREHENSIVE INCOME
Three months Six months Three months Six months
ended ended ended ended
October 31, October 31, October 31, October 31,
2005 2005 2004 2004
----------------------------------------------------
Net Income $ 711,000 $ 1,317,000 $ 627,000 $ 1,120,000
------------ ------------ ------------ ------------
Other Comprehensive Income, net of tax
Unrealized gain (loss) on securities:
Unrealized holding
gains (losses) arising
during period (94,000) 191,000 92,000 33,000
Reclassification adjustment
for (gains) losses included
in net income 22,000 (2,000) (28,000) (9,000)
Income tax expense related
to other comprehensive
income (30,000) 79,000 27,000 10,000
------------ ------------ ------------ ------------
Other Comprehensive
Income $ (102,000) $ 268,000 $ 91,000 $ 34,000
Comprehensive Income $ 609,000 $ 1,585,000 $ 718,000 $ 1,154,000
============ ============ ============ ============
GEORGE RISK INDUSTRIES, INC.
STATEMENT OF CASH FLOWS
Three months Six months Three months Six months
ended ended ended ended
October 31, October 31, October 31, October 31,
2005 2005 2004 2004
----------------------------------------------------
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net Income $ 711,000 $ 1,317,000 $ 627,000 $ 1,120,000
Adjustments to reconcile
net income to net cash
provided by operating
activities:
Depreciation 47,000 93,000 51,000 100,000
(Gain) 1oss on sale of
investments 22,000 (2,000) (28,000) (9,000)
Changes in assets and
liabilities:
(Increase) decrease in:
Accounts receivable 56,000 94,000 (189,000) (292,000)
Inventories (29,000) (4,000) 210,000 207,000
Prepaid expenses 8,000 (74,000) (7,000) (47,000)
Employee receivables 1,000 0 (1,000) 1,000
Deferred income taxes (14,000) (14,000) 0 0
Increase (decrease) in:
Accounts payable (73,000) (39,000) (44,000) (27,000)
Accrued expenses 143,000 32,000 88,000 18,000
Income tax payable (484,000) (24,000) (54,000) 297,000
------------ ------------ ------------ ------------
Net cash provided by (used in)
operating activities $ 388,000 $ 1,379,000 $ 653,000 $ 1,368,000
CASH FLOWS FROM INVESTING
ACTIVITIES:
Other assets
manufactured (25,000) (2,000) (34,000) (2,000)
(Purchase) of property
and equipment (27,000) (227,000) (26,000) (90,000)
Proceeds from sale of
marketable securities 630,000 923,000 271,000 419,000
(Purchase) of marketable
securities (996,000) (1,595,000) (424,000) (818,000)
(Purchase) of treasury
stock 0 (128,000) 0 0
------------ ------------ ------------ ------------
Net cash provided by (used in)
investing activities $ (418,000) $(1,029,000) $ (213,000) $ (491,000)
CASH FLOWS FROM FINANCING
ACTIVITIES:
Increase in long-term
debt 0 100,000 0 0
Principal payments on
long-term debt (25,000) (42,000) 0 0
Dividends issued (488,000) (492,000) (467,000) (467,000)
------------ ------------ ------------ ------------
Net cash provided by (used in)
financing activities $ (513,000) $ (434,000) $ (467,000) $ (467,000)
NET INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS $ (543,000) $ (84,000) $ (27,000) $ 410,000
============ ============ ============ ============
Cash and cash equivalents,
beginning of period $ 5,910,000 $ 5,451,000 $ 4,717,000 $ 4,280,000
Cash and cash equivalents,
end of period $ 5,367,000 $ 5,367,000 $ 4,690,000 $ 4,690,000
GEORGE RISK INDUSTRIES, INC.
NOTES TO FINANCIAL STATEMENTS
OCTOBER 31, 2005
Note 1 Unaudited Interim Financial Statements
The accompanying financial statements have been prepared in accordance
with the instructions for Form 10QSB and do not include all of the inform-
ation and footnotes required by generally accepted accounting principals for
complete financial statements. These financial statements should be read in
conjunction with the financial statements and notes contained in the com-
pany's annual report on Form 10KSB for the year ended April 30, 2005 with
the SEC. In the opinion of management, all adjustments, consisting only of
normal recurring adjustments considered necessary for a fair presentation,
have been included. Operating results for any quarter are not necessarily
indicative of the results for any other quarter or for the full year.
Note 2 Marketable Securities
The Company has investments in publicly traded equity securities as well
as certain state and municipal debt securities. These securities are class-
ified as available-for-sale securities, and are reported at fair value.
Realized gains and losses are determined on the average cost basis, and are
included in the Company's statement of income. Dividend and interest income
are accrued as earned.
Marketable equity securities and unrealized gains and losses consist of
the following as of October 31, 2005 and October 31, 2004:
Cost Basis $ 13,305,000 $ 12,086,000
Market Value 12,615,000 11,207,000
------------- -------------
Net Unrealized Gain (Loss) $ (690,000) $ (879,000)
============= =============
Gross unrealized gain $ 445,000 $ 492,000
============= =============
Gross unrealized loss $ (1,135,000) $ (1,371,000)
============= =============
In accordance with SFAS 115, if the Company determines that a marketable
security has an other-than temporary decline in fair value, the Company will
decrease the cost of the marketable security to the new fair value and
recognize a real loss. The investments are periodically evaluated to deter-
mine if impairment changes are required.
Note 3 Inventories
At October 31, 2005 and October 31, 2004, respectively, inventories con-
sisted of the following:
Raw Materials $ 1,410,000 $ 1,528,000
Work in Process 456,000 458,000
Finished Goods 218,000 188,000
Warehouse in England 45,000 68,000
------------- -------------
$ 2,129,000 $ 2,242,000
Less: allowance for obsolete
inventory (70,000) (70,000)
------------- -------------
Net Inventories $ 2,059,000 $ 2,172,000
============= =============
Note 4 Business Segments
The following is financial information relating to industry segments:
For the quarter ended
October 31,
2005 2004
----------------------------
Net revenue:
Pool alarm products $ 292,000 $ 298,000
Keyboard products 312,000 137,000
Security alarm and other products 3,032,000 2,842,000
------------- -------------
Total net revenue $ 3,636,000 $ 3,277,000
Income from operations:
Pool alarm products $ 87,000 $ 90,000
Keyboard products 94,000 41,000
Security alarm and other products 907,000 852,000
------------- -------------
Total income from operations $ 1,088,000 $ 983,000
Identifiable assets:
Pool alarm products $ 292,000 $ 284,000
Keyboard products 355,000 252,000
Security alarm and other products 4,229,000 4,135,000
Corporate general 18,783,000 16,705,000
------------- -------------
Total assets $ 23,659,000 $ 21,376,000
Depreciation and amortization:
Pool alarm products $ 3,000 $ 2,000
Keyboard products 0 0
Security alarm and other products 31,000 30,000
Corporate general 13,000 19,000
------------- -------------
Total depreciation and amortization $ 47,000 $ 51,000
Capital expenditures:
Pool alarm products $ 0 $ 0
Keyboard products 0 0
Security alarm and other products 27,000 4,000
Corporate general 0 22,000
------------- -------------
Total capital expenditures $ 27,000 $ 26,000
Note 5 Revenue Recognition
George Risk Industries recognizes its revenues when goods are shipped
and billed to its customers.
Note 6 Earnings per Share
Basic and diluted earning per share, assuming convertible preferred
stock was converted for each period presented, are:
For the three months ended October 31, 2005
-------------------------------------------
Income Shares Per-share
(Numerator) (Denominator) Amount
----------- ------------- -----------
Net Income $ 711,000
===========
Basic EPS $ 711,000 5,362,053 $ 0.13
Effect of dilutive securities:
Convertible preferred stock 0 20,500
----------- ------------- -----------
Diluted EPS $ 711,000 5,382,553 $ 0.13
For the six months ended October 31, 2005
-------------------------------------------
Income Shares Per-share
(Numerator) (Denominator) Amount
----------- ------------- -----------
Net Income $1,317,000
===========
Basic EPS $1,317,000 5,362,053 $ 0.25
Effect of dilutive securities:
Convertible preferred stock 0 20,500
----------- ------------- -----------
Diluted EPS $1,317,000 5,382,553 $ 0.24
For the three months ended October 31, 2004
-------------------------------------------
Income Shares Per-share
(Numerator) (Denominator) Amount
----------- ------------- -----------
Net Income $ 627,000
===========
Basic EPS $ 627,000 5,402,528 $ 0.12
Effect of dilutive securities:
Convertible preferred stock 0 26,750
----------- ------------- -----------
Diluted EPS $ 627,000 5,429,278 $ 0.12
For the six months ended October 31, 2004
-------------------------------------------
Income Shares Per-share
(Numerator) (Denominator) Amount
----------- ------------- -----------
Net Income $1,120,000
===========
Basic EPS $1,120,000 5,402,528 $ 0.21
Effect of dilutive securities:
Convertible preferred stock 0 26,750
----------- ------------- -----------
Diluted EPS $1,120,000 5,429,278 $ 0.21
Note 7 Retirement Benefit Plan
On January 1, 1998, the Company adopted the George Risk Industries, Inc.
Retirement Savings Plan (the "Plan"). The Plan is a defined contribution
savings plan designed to provide retirement income to eligible employees of
the corporation. The Plan is intended to be qualified under Section 401(k)
of the Internal Revenue Code of 1986, as amended. Matching contributions by
the Company of approximately $4,000 were paid during each quarter ending
October 31, 2005 and 2004. Likewise, the Company paid matching contributions
of approximately $8,000 during each six-month period ending October 31, 2005
and 2004. There were no discretionary contributions paid during either the
quarters or six-month periods ending October 31, 2005 and 2004, respectively.
GEORGE RISK INDUSTRIES, INC.
PART I. FINANCIAL INFORMATION
Item 2. Management Discussion and Analysis of Financial Condition and
Results of Operations
MANAGEMENT DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
The following discussion should be read in conjunction with the attached con-
densed financial statements, and with the George Risk Industries' audited
financial statements and discussion for the fiscal year ended April 30, 2005.
Net cash decreased $543,000 during the quarter ended October 31, 2005 as com-
pared to a decrease of $27,000 during the corresponding quarter last year.
As for the year-to-date numbers, net cash decreased $84,000 for the six
months ended October 31, 2005, while, for the same period last year, net cash
increased $410,000. Accounts receivable decreased $56,000 during the current
quarter as compared to a $189,000 increase for the corresponding quarter last
year. The year-to-date figures show a decrease of $94,000 for the current
six months and a $292,000 increase for the same period last year. At Oct-
ober 31, 2005, 74.6% of the receivables were considered current (less than 45
days) and 8.5% of the total were over 90 days past due. Inventories in-
creased $29,000 during the current quarter as compared to a $210,000 decrease
last year. The year-to-date numbers show the inventory increased $4,000 for
the current year, while it decreased $207,000 for the same period last year.
The increased cash being spent towards inventory go hand in hand with the in-
crease in sales that we are showing. At the quarter ended October 31, 2005,
there was a $8,000 decrease in prepaid expenses while there was an increase
of $7,000 for the corresponding quarter the year before. Changes in prepaid
expenses in regards to cash flow increased by $74,000 and decreased by
$47,000 for the six-month periods ending October 31, 2005 and 2004, re-
spectively.
At the quarter ended October 31, 2005, accounts payable decreased $73,000 as
compared to a $44,000 decrease for the same quarter the year before. As for
year-to-date numbers, there was a $39,000 decrease for the six months ended
October 31, 2005, and a $27,000 decrease for the same period ended October
31, 2004. Accrued payroll and related expenses increased by $143,000 for the
quarter ended October 31, 2005, while these expenses decreased $88,000 for
the corresponding quarter the year before. As for the six-month period end-
ing October 31, 2005, accrued expenses increased $32,000 and also increased
by $18,000 for the same period last year. Income tax payable decreased
$484,000 for the quarter ended October 31, 2005, as it decreased $54,000 for
the quarter ended October 31, 2004 as well. For the six months ended Oct-
ober 31, 2005, income tax payable decreased $24,000, as it increased $297,000
for the corresponding period a year ago.
As for the Company's investing activities, there have not been any purchases
or sales out of the ordinary during the current quarter. The Company has
purchased a couple of fixed assets and continues to put money into buying
more marketable securities. As for the year-to-date figures, it is again
notable to mention the fact that the Company purchased a building for the
workers at our Gering, NE facility. This building is bigger than the one we
were in before and it was bought in conjunction with a loan/grant that we
applied for and received from the City of Gering. This "loan" will be con-
verted into grant money if the Company meets all the requirements for adding
new employees to the community. Please see the Company's 10QSB for the
quarter ended July 31, 2005 for more detailed information. Another large
transaction that took place over the six-month period ending October 31, 2005
was that the Company bought back $128,000 worth of common stock. The Company
has been actively searching for stockholders that have been "lost" over the
years. Many of the original stockholders are deceased and their descendants
are choosing to sell the stock in order to clear up the estates, etc.
The following is a list of ratios to help analyze George Risk Industries'
performance:
For the quarter ended October 31,
2005 2004
---------------------------------
Working capital $ 21,825,000 $ 19,657,000
Current ratio 33.623 31.762
Quick ratio 30.088 28.052
Net sales were $3,636,000 for the quarter ended October 31, 2005, which is a
10.96% increase from the corresponding quarter last year. Year-to-date net
sales were $7,047,000 at October 31, 2005, which is a 10.56% increase from
the same period last year. Cost of goods sold was 47.7% of net sales for the
quarter ended October 31, 2005 and 45.8% for the same quarter last year.
Year-to-date cost of goods sold percentages were 48.1% for the current six
months and 47.0% for the corresponding six months last year. Having rela-
tively the same percentage of cost of goods sold from period to period shows
that we keep our costs in line. Our goal, as always, is to have a cost of
goods sold percentage somewhere between 45% and 50%. As a whole, our cost of
materials and direct labor fluctuate in proportion to how our sales vary.
Operating expenses were 22.4% of net sales for the quarter ended October 31,
2005 as compared to 24.2% for the corresponding quarter last year. Year-to-
date operating expenses were 23.1% of net sales for the six months ended
October 31, 2005, while they were 25.3% for the same period last year. In-
come from operations for the quarter ended October 31, 2005 was at
$1,088,000, which is a 10.68% increase from the corresponding quarter last
year, which had income from operations of $983,000. Income from operations
for the six months ended October 31, 2005 was at $2,024,000, which is a 14.8%
increase from the corresponding six months last year, which had income from
operations of $1,763,000.
Other income and expenses showed gains of $110,000 and $241,000 for the
quarter and six months ended October 31, 2005, respectively. The other in-
come and expense numbers for last year also showed gains of $95,000 for the
quarter and $160,000 for the six months ending October 31, 2004. Dividend
and interest income is up 24.6% for the current quarter and is up 27.2% for
the current six-month period when comparing to the same time periods last
year. We have reorganized the way we are investing in by using money manager
accounts. These investment accounts are overseen by money managers affil-
iated with our brokerage firms. This has seemed to make a positive differ-
ence in not accumulating big losses like we have let happen in the past. Net
income for the quarter ended October 31, 2005 was at $711,000, a 13.4% in-
crease from the corresponding quarter last year, which showed net income of
$627,000. Net income for the six months ended October 31, 2005 was
$1,317,000, a 17.59% increase from the same period last year. Net income for
the six months ended October 31, 2004 was $1,120,000. Earnings per common
share for the quarter ended October 31, 2005 was $0.13 per share and $0.25
per share for the year-to-date numbers. EPS for the quarter and six months
ended October 31, 2004 was $0.12 per share and $0.21 per share, respectively.
A dividend of $0.10 per common share was declared during the current quarter
ended October 31, 2005. The dividend was paid to common stockholders of re-
cord as of September 30, 2005 and the payment date was October 31, 2005.
This is the second year in a row that the Company has paid a dividend to the
stockholders and we hope to continue this trend in the future. The reason
that there is still a dividend payable on the books as of October 31, 2005 is
that we did not have all the information that was needed in order to process
checks to some stockholders. Once this information is obtained, a dividend
check is sent out if they were a stockholder as of the date of record.
George Risk Industries does have three distinct business segments, security
alarm products (and other items), keyboard products, and pool alarm products
that are subject to disclosure under SFAS No. 131. See the notes to the
financial statements in order to examine the segments.
Now, here is an update on the progress of some of the Company's new products.
The new Roller Ball molds are complete. The magnets have been ordered for
the roller ball and are expected to be in by early January 2006. And samples
of the new roller ball will be submitted to U.L. in December 2005 for
approval. It should be available for sale in January 2006. Also, the Mini
Raceway is available as raceway only and waiting for tool and die time for
connector molds.
The MagnaSphere displays are complete except for label artwork. These dis-
plays will be given to our outside representatives and Distribution Network
and will be used to demonstrate this new, high security technology. There is
much interest that continues to grow on this product line. Several orders
have been received for the MagnaSphere switch from the Federal government.
They are conducting their own tests to determine if these switches can be
used to replace an older, more expensive technology presently being used.
Testing continues in R&D on the new Pool Alarm sounder. This new design
should be ready for ETL submittal and should be available by the ISC West
show in Las Vegas in April 2006. The new design was shown at the ISC East
in New York City in August 2005 and received many good marks and approvals
from our customers attending.
A new resistor switch has been designed that uses PC boards. These switches
are presently in production. This method eliminates a lot of production time
and effort since the majority of it will be built on a Pick & Place machine.
The High Security Switch design is complete, and several units have been
sold. This product will be submitted to U.L. and the Department of Defense
for their approvals. This is a triple biased switch using three reeds and
magnets, which makes it most resistant to tampering and defeat. The U.S.
Government is a major user of this type switch set.
Management is always open to the possibility to acquire a business that
would complement our existing operations. This would require no outside
financing. The intent is to utilize the equipment, marketing techniques and
established customers to increase sales and profits.
There are no known seasonal trends with any of our products, since we sell
to distributors and OEM manufacturers. The products are tied to the housing
industry and will fluctuate with building trends.
Item 3 Controls and Procedures
(a) Information required by Item 307
Our Chief Executive Officer and our Chief Financial Officer, after evaluating
the effectiveness of the Company's "disclosure controls and procedures" (as
defined in the Securities Exchange Act of 1934 (Exchange Act) Rules 13a-15(e)
or 15d-15(e)) as of the end of the period covered by this quarterly report,
have concluded that our disclosure controls and procedures are effective
based on their evaluation of these controls and procedures required by para-
graph (b) of Exchange Act Rules 13a-15 or 15d-15.
(b) I nformation required by Item 308
This disclosure is not yet required.
GEORGE RISK INDUSTRIES, INC.
Part II. OTHER INFORMATION
Item 1. Legal Proceedings
Not applicable
Item 2. Changes in Securities
Not applicable.
Item 3. Defaults upon Senior Securities
Not applicable
Item 4. Submission of Matters to a Vote of Securities
Not applicable
Item 5. Other Information
Not applicable
Item 6. Exhibits and Reports on Form 8-K
A. Exhibits
31. Certifications pursuant to Rule 13a-14(a)
31.1 Certification of the Chief Executive Officer
31.2 Certification of the Chief Financial Officer
32. Certifications pursuant to 18 U.S.C. 1350
32.1 Certification of the Chief Executive Officer
32.2 Certification of the Chief Financial Officer
B. Reports on Form 8-K
No 8-K reports were filed during the quarter ended October 31, 2005
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
George Risk Industries, Inc.
(Registrant)
Date 12-15-2005 By: /s/ Kenneth R. Risk
Kenneth R. Risk
President and Chairman of the Board
Date 12-15-2005 By: /s/ Stephanie M. Risk
Stephanie M. Risk
Chief Financial Officer and Controller