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 January 31, 2006
[ ] 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
March 17, 2006 was 5,347,413.
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 nine month period
ended January 31, 2006, are attached hereto.
GEORGE RISK INDUSTRIES, INC.
BALANCE SHEET
JANUARY 31, 2006
ASSETS
Current Assets
Cash and cash equivalents $ 5,177,000
Marketable securities (Note 2) 13,236,000
Accounts receivable:
Trade, net of $50,000 doubtful account allowance 2,365,000
Other 2,000
Income tax overpayment 109,000
Inventories (Note 3) 2,158,000
Prepaid expenses 111,000
Deferred current income taxes 233,000
------------
Total Current Assets $23,391,000
Property and Equipment, net at cost $ 975,000
Other Assets
Investment in Land Limited Partnership, at cost 200,000
Projects in process 3,000
Other 1,000
------------
Total Other Assets $ 204,000
TOTAL ASSETS $24,570,000
============
GEORGE RISK INDUSTRIES, INC.
BALANCE SHEET
JANUARY 31, 2006
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable, trade $ 137,000
Dividends payable 46,000
Accrued expenses
Payroll and related expenses 290,000
Property taxes 2,000
Notes payable, current 33,000
------------
Total Current Liabilities $ 508,000
Long-Term Liabilities
Dividends payable 45,000
Deferred income taxes 42,000
------------
Total Long-Term Liabilities $ 87,000
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 (277,000)
Retained earnings 23,532,000
Treasury stock, 3,146,929 shares, at cost (1,965,000)
------------
Total Stockholders' Equity $23,975,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $24,570,000
============
GEORGE RISK INDUSTRIES, INC.
STATEMENT OF INCOME AND RETAINED EARNINGS
Three months Nine months Three months Nine months
ended ended ended ended
January 31, January 31, January 31, January 31,
2006 2006 2005 2005
----------------------------------------------------
Net Sales $ 3,627,000 $10,675,000 $ 3,139,000 $ 9,512,000
Less: cost of goods sold (1,745,000) (5,138,000) (1,540,000) (4,538,000)
------------ ------------ ------------ ------------
Gross Profit $ 1,882,000 $ 5,537,000 $ 1,599,000 $ 4,974,000
Operating Expenses:
General and
administrative 180,000 526,000 175,000 513,000
Selling 581,000 1,801,000 546,000 1,756,000
Engineering 22,000 59,000 21,000 58,000
Rent paid to related
parties 12,000 40,000 11,000 38,000
------------ ------------ ------------ ------------
Total Operating Expenses $ 795,000 $ 2,426,000 $ 753,000 $ 2,365,000
Income From Operations 1,087,000 3,111,000 846,000 2,609,000
Other Income (Expense)
Other 7,000 54,000 2,000 0
Dividend and interest
income 135,000 326,000 130,000 282,000
Gain (loss) on
investments (158,000) (155,000) (78,000) (69,000)
------------ ------------ ------------ ------------
$ (16,000) $ 225,000 $ 54,000 $ 213,000
Income Before Provisions
for Income Tax 1,071,000 3,336,000 900,000 2,822,000
Provisions for Income Tax
Current Expense (448,000) (1,410,000) (375,000) (1,178,000)
Deferred tax expense 74,000 88,000 0 0
------------ ------------ ------------ ------------
Total Income Tax Expense (374,000) (1,322,000) (375,000) (1,178,000)
Net Income $ 697,000 $ 2,014,000 $ 525,000 $ 1,644,000
Retained Earnings,
beginning of period $22,835,000 $22,054,000 $20,658,000 $20,079,000
Less: Cash Dividends
Common Stock
($0.10 per share) 0 (536,000) 0 (540,000)
Retained Earnings,
end of period $23,532,000 $23,532,000 $21,183,000 $21,183,000
Income Per Share of Common
Stock: (Note 6)
Basic $0.13 $0.38 $0.10 $0.30
Assuming Dilution $0.13 $0.37 $0.10 $0.30
GEORGE RISK INDUSTRIES, INC.
STATEMENT OF COMPREHENSIVE INCOME
Three months Nine months Three months Nine months
ended ended ended ended
January 31, January 31, January 31, January 31,
2006 2006 2005 2005
----------------------------------------------------
Net Income $ 697,000 $ 2,014,000 $ 525,000 $ 1,644,000
------------ ------------ ------------ ------------
Other Comprehensive Income, net of tax
Unrealized gain (loss) on securities:
Unrealized holding
gains (losses) arising
during period 413,000 604,000 147,000 179,000
Reclassification adjustment
for (gains) losses included
in net income 158,000 155,000 78,000 69,000
Income tax expense related
to other comprehensive
income (239,000) (317,000) (94,000) (104,000)
------------ ------------ ------------ ------------
Other Comprehensive
Income $ 332,000 $ 442,000 $ 131,000 $ 144,000
Comprehensive Income $ 1,029,000 $ 2,456,000 $ 656,000 $ 1,788,000
============ ============ ============ ============
GEORGE RISK INDUSTRIES, INC.
STATEMENT OF CASH FLOWS
Three months Nine months Three months Nine months
ended ended ended ended
January 31, January 31, January 31, January 31,
2006 2006 2005 2005
----------------------------------------------------
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net Income $ 697,000 $ 2,014,000 $ 525,000 $ 1,644,000
Adjustments to reconcile
net income to net cash
provided by operating
activities:
Depreciation 54,000 147,000 54,000 154,000
(Gain) loss on sale of
investments 158,000 155,000 78,000 69,000
Change in unrealized gain
(loss) on investments 413,000 604,000 147,000 179,000
Changes in assets and
liabilities:
(Increase) decrease in:
Accounts receivable (218,000) (124,000) 141,000 (151,000)
Inventories (99,000) (103,000) (26,000) 181,000
Prepaid expenses 24,000 (50,000) (38,000) (79,000)
Employee receivables 0 0 2,000 3,000
Income tax overpayment (187,000) (210,000) 0 0
Deferred tax asset (74,000) (88,000) 0 0
Increase (decrease) in:
Accounts payable 37,000 (2,000) 88,000 61,000
Accrued expenses (87,000) (55,000) (82,000) (64,000)
Income tax payable 0 0 29,000 327,000
------------ ------------ ------------ ------------
Net cash provided by (used in)
operating activities $ 718,000 $ 2,288,000 $ 918,000 $ 2,324,000
CASH FLOWS FROM INVESTING
ACTIVITIES:
Other assets
manufactured 40,000 37,000 16,000 9,000
(Purchase) of property
and equipment (108,000) (335,000) (55,000) (145,000)
Proceeds from sale of
marketable securities 773,000 2,074,000 898,000 1,332,000
(Purchase) of marketable
securities (1,551,000) (3,715,000) (1,379,000) (2,245,000)
(Purchase) of treasury
stock (33,000) (161,000) (13,000) (13,000)
------------ ------------ ------------ ------------
Net cash provided by (used in)
investing activities $ (879,000) $(2,100,000) $ (533,000) $(1,062,000)
CASH FLOWS FROM FINANCING
ACTIVITIES:
Increase in long-term
debt 0 100,000 0 0
Principal payments on
long-term debt (25,000) (67,000) 0 0
Dividends paid (3,000) (495,000) (22,000) (488,000)
------------ ------------ ------------ ------------
Net cash provided by (used in)
financing activities $ (28,000) $ (462,000) $ (22,000) $ (488,000)
NET INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS $ (189,000) $ (274,000) $ 363,000 $ 774,000
============ ============ ============ ============
Cash and cash equivalents,
beginning of period $ 5,366,000 $ 5,451,000 $ 4,691,000 $ 4,280,000
Cash and cash equivalents,
end of period $ 5,177,000 $ 5,177,000 $ 5,054,000 $ 5,054,000
GEORGE RISK INDUSTRIES, INC.
NOTES TO FINANCIAL STATEMENTS
JANUARY 31, 2006
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. Real-
ized gains and losses are determined on the average cost basis, and are in-
cluded 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 January 31, 2006 and January 31, 2005:
Cost Basis $ 13,513,000 $ 12,342,000
Market Value 13,236,000 11,610,000
------------- -------------
Net Unrealized Gain (Loss) $ (277,000) $ (732,000)
============= =============
Gross Unrealized Gain $ 577,000 $ 442,000
============= =============
Gross Unrealized Loss $ (854,000) $ (1,174,000)
============= =============
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 re-
cognize a real loss. The investments are periodically evaluated to determine
if impairment changes are required.
Note 3 Inventories
At January 31, 2006 and January 31, 2005, respectively, inventories con-
sisted of the following:
Raw Materials $ 1,419,000 $ 1,540,000
Work in Process 531,000 480,000
Finished Goods 231,000 180,000
Warehouse in England 47,000 69,000
------------- -------------
$ 2,228,000 $ 2,269,000
Less: allowance for obsolete
inventory (70,000) (70,000)
------------- -------------
Net Inventories $ 2,158,000 $ 2,199,000
============= =============
Note 4 Business Segments
The following is financial information relating to industry segments:
For the quarter ended
January 31,
2006 2005
----------------------------
Net revenue:
Pool alarm products $ 254,000 $ 233,000
Keyboard products 151,000 144,000
Security alarm and other products 3,222,000 2,762,000
------------- -------------
Total net revenue $ 3,627,000 $ 3,139,000
Income from operations:
Pool alarm products $ 76,000 $ 63,000
Keyboard products 45,000 39,000
Security alarm and other products 966,000 744,000
------------- -------------
Total income from operations $ 1,087,000 $ 846,000
Identifiable assets:
Pool alarm products $ 218,000 $ 266,000
Keyboard products 179,000 296,000
Security alarm and other products 4,826,000 4,000,000
Corporate general 19,347,000 17,485,000
------------- -------------
Total assets $ 24,570,000 $ 22,047,000
Depreciation and amortization:
Pool alarm products $ 3,000 $ 4,000
Keyboard products 0 0
Security alarm and other products 34,000 31,000
Corporate general 17,000 19,000
------------- -------------
Total depreciation and amortization $ 54,000 $ 54,000
Capital expenditures:
Pool alarm products $ 0 $ 43,000
Keyboard products 0 0
Security alarm and other products 46,000 0
Corporate general 62,000 12,000
------------- -------------
Total capital expenditures $ 108,000 $ 55,000
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 January 31, 2006
-------------------------------------------
Income Shares Per-share
(Numerator) (Denominator) Amount
----------- ------------- -----------
Net Income $ 697,000
===========
Basic EPS $ 697,000 5,359,627 $ 0.13
Effect of dilutive securities:
Convertible preferred stock 0 20,500
----------- ------------- -----------
Diluted EPS $ 697,000 5,380,127 $ 0.13
For the nine months ended January 31, 2006
------------------------------------------
Income Shares Per-share
(Numerator) (Denominator) Amount
----------- ------------- -----------
Net Income $2,014,000
==========
Basic EPS $2,014,000 5,365,072 $ 0.38
Effect of dilutive securities:
Convertible preferred stock 0 20,500
----------- ------------- -----------
Diluted EPS $2,014,000 5,385,572 $ 0.37
For the three months ended January 31, 2005
-------------------------------------------
Income Shares Per-share
(Numerator) (Denominator) Amount
----------- ------------- -----------
Net Income $ 525,000
===========
Basic EPS $ 525,000 5,400,663 $ 0.10
Effect of dilutive securities:
Convertible preferred stock 0 26,750
----------- ------------- -----------
Diluted EPS $ 525,000 5,427,413 $ 0.10
For the nine months ended January 31, 2005
------------------------------------------
Income Shares Per-share
(Numerator) (Denominator) Amount
----------- ------------- -----------
Net Income $1,644,000
===========
Basic EPS $1,644,000 5,401,906 $ 0.30
Effect of dilutive securities:
Convertible preferred stock 0 26,750
----------- ------------- -----------
Diluted EPS $1,644,000 5,428,656 $ 0.30
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
January 31, 2006 and 2005. Likewise, the Company paid matching contributions
of $13,000 during the nine-month period ending January 31, 2006 and $12,000
was paid during the corresponding nine-month period for the year before.
There were no discretionary contributions paid during either the quarters or
nine-month periods ending January 31, 2006 and 2005, 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
condensed consolidated financial statements, and with the George Risk
Industries' audited financial statements and discussion for the fiscal year
ended April 30, 2005.
Net cash decreased $189,000 during the quarter ended January 31, 2006 as
compared to an increase of $363,000 during the corresponding quarter last
year. As for the year-to-date numbers, net cash decreased $274,000 for the
nine months ended January 31, 2006, while, for the same period last year, net
cash increased $774,000. Accounts receivable increased $218,000 during the
current quarter as compared to a $141,00 decrease for the corresponding
quarter last year. The year-to-date figures show an increase of $124,000 for
the current nine months and a $151,000 increase for the same period last
year. The increases in cash flow for accounts receivable is a reflection of
the increases in sales. At January 31, 2006, 60.9% of the receivables were
considered (less than 45 days) and 12.3% of the total were over 90 days past
due. Inventories increased $99,000 for the current quarter as compared to a
$26,000 increase for the same quarter last year. The year-to-date numbers
show a $103,000 increase in inventory for the current year, while there was a
$181,000 decrease for the same period last year. We have spent more on
inventory this quarter and the current nine-month period and these increases
go hand-in-hand with the increased sales.
For the quarter ended January 31, 2006, accounts payable increased $37,000 as
compared to a $88,000 increase for the same quarter the year before. As for
the year-to-date numbers, there was a $2,000 decrease for the nine months
ended January 31, 2006, and a $61,000 increase for the same period ended
January 31, 2005. Cash flow for income taxes was an asset for the three and
nine-month periods ending January 31, 2006. There was a $187,000 increase
for the quarter and a $210,000 increase for the year-to-date numbers. The
asset, or overpayment, is just a precaution since the Company is generating
heightened sales. As for the three and nine months ended January 31, 2005,
income tax payable decreased $29,000 and $327,000, respectively.
An analysis of the Company's investing activities in relation to cash flow
shows that there has been $108,000 worth of purchases of property and equip-
ment for the quarter ending January 31, 2006. And for the nine-months ending
January 31, 2006, there has been $335,000 spent on property and equipment.
Our biggest, and out of the ordinary, purchase shown in the year-to-date
numbers is that management decided to purchase a building for the workers at
our Gering, NE facility. Previously, the Company was getting "free rent" in
Gering, NE with the assistance of a community development grant that was
awarded to the Company to encourage the opening of a plant in the town. But
the grant period had expired and to continue in our growth it was necessary
to move into a bigger building and it made sense to management to purchase
instead of rent. As for the other investing activities, the Company is con-
tinuing to deposit money into marketable security investments. Also, the
Company has been actively searching for the "lost" stockholders that are on
record. As a result, the Company has found many and has been able to pur-
chase stock back. For the quarter ending January 31, 2006, treasury stock of
$33,000 was acquired and $161,000 was bought back for the nine-month period.
The following is a list of ratios to help analyze George Risk Industries'
performance:
For the quarter ended January 31,
2006 2005
----------------------------------
Working capital $ 22,883,000 $ 20,327,000
Current ratio 46.045 32.224
Quick ratio 40.902 28.495
Net sales were $3,627,000 for the quarter ended January 31, 2006, which is a
15.6% increase over the corresponding quarter last year. Year-to-date net
sales at January 31, 2006 were $10,675,000, which is a 12.2% increase over
the same period last year. Sales to our European distributor are up 36% for
the current nine months when comparing to the same period last year. Sales
should continue to rise in Europe and overseas because of new standards and
regulations that will position the Company as an international contact switch
leader. Cost of goods sold was 48.1% of net sales for the quarter ended
January 31, 2006 and 49.1% for the same quarter last year. Year-to-date cost
of goods sold percentages were 48.1% for the current nine months and 47.7%
for the corresponding nine months last year. Having relatively the same per-
centage of cost of goods sold from period to period shows that we keep our
costs in line. Our cost of materials and direct labor fluctuate in pro-
portion to how our sales vary.
Operating expenses were 21.9% of net sales for the quarter ended January 31,
2006 as compared to 24.0% for the corresponding quarter last year. Year-to-
date operating expenses were 22.7% of net sales for the nine months ended
January 31, 2006, while they were 24.9% for the same period last year.
Having relatively the same percentages for operating expenses shows that
management has a good grip on spending habits. Income from operations for
the quarter ended January 31, 2006 was at $1,087,000, which is a 28.5% in-
crease from the corresponding quarter last year, which had income from oper-
ations of $846,000. Income from operations for the nine months ended Jan-
uary 31, 2006 was at $3,111,000, which is a 19.2% increase from the cor-
responding nine months last year, which had income from operations of
$2,609,000.
Other income and expenses showed a loss of $16,000 for the quarter and a
$225,000 gain for the nine months that ended January 31, 2006. The numbers
for the corresponding periods last year were gains of $54,000 and $213,000.
The main reason for the loss in the current quarter is that some impaired
investments had to be written down and the Company has to recognize a real-
ized loss. Net income for the quarter ended January 31, 2006 was at
$697,000, a 32.7% increase from the corresponding quarter last year, which
showed net income of $525,000. Net income for the nine months ended Jan-
uary 31, 2006 was $2,014,000, a 22.5% increase from the same period last
year. Net income for the nine months ended January 31, 2005 was $1,644,000.
Earnings per common share for the quarter ended January 31, 2006 were $0.13
per share and $0.38 per share for the year-to-date numbers. EPS for the
quarter and nine moths ended January 31, 2005 was $0.10 per share and $0.30
per share, respectively.
A dividend of $0.10 per common share was declared and stockholders of record
as of September 30, 2005 received the dividend. The payment date was Oct-
ober 31, 2005. This is the second year in a row that the Company has de-
clared a dividend and will hopefully continue this trend in the future. The
reason that there is still a dividend payable on the books as of January 31,
2006 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. Also, we have many "lost" stockholders on record, but with the con-
tinued declaration of dividends, we are finding it is easier to find the lost
stockholders.
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 these segments.
The following is a product update. The new Short Roller Ball switch is in
production and is available for sale. It has received a good response from
distributors as an improvement to the Dome Switch.
The MagnaSphere displays are now complete. These displays are being given to
our outside sales representatives and are used to demonstrate the new, high
security technology. Interest continues to grow on this product line.
Orders have been received 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 that is presently being used.
The new Pool Alarm design is complete. This new design should be ready for
ETL submittal this spring and should be available for sale by the summer of
2006. The new design was shown at the ISC East Trade Show in New York City
in August 2005 and received good marks and approvals from our customers who
attended the show. As a whole, Pool Alarms continue to see growth as more
states enact safety legislation aimed at preventing swimming pool accidents.
The High Security Switch design is complete and several units have been sold.
The product will be submitted to U.L. and the Department of Defense. This is
a triple biased switch using three reeds and magnets, which makes it re-
sistant to tampering and defeat. The U.S. Government is a major consumer of
this type of switch set.
The Company is seeing growth in new customers with electrical contractors
through the use of our CC-01 Current Controller. This device can turn on
lights in various areas when the door is opened. We are also offering a new
Extreme Duty armored cable with a pull-apart switch for applications such as
securing tractors, golf carts, or any wheeled items that need to be protected.
Management is always open to the possibility to acquire a business that would
complement our existing operations. This would probably not require any out-
side 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) Information 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 January 31, 2006.
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 03-17-2006 By: /s/ Kenneth R. Risk
Kenneth R. Risk
President and Chairman of the Board
Date 03-17-2006 By: /s/ Stephanie M. Risk
Stephanie M. Risk
Chief Financial Officer and Controller