Shelton-based safety and cutting-products manufacturer Acme United Corp. said Tuesday that tariffs and trade uncertainty continued to pressure its school and office-supply business during the third quarter, even as overall revenue rose slightly.
The company reported $49.1 million in sales, up 2% from a year earlier, while net income slipped 14% to $1.9 million, or 46 cents per diluted share, due to higher tax expenses.
Acme United CEO Walter C. Johnsen said tariff-related uncertainty led major retailers to cancel most promotions of Acme’s Westcott cutting tools, though activity is starting to rebound. U.S. segment sales rose just 1%, with first-aid product revenue up 9%.
Sales in Europe and Canada grew 13% and 5%, respectively, helping offset weaker domestic demand, the company said.
Johnsen said Acme remains profitable and is positioned for growth, particularly in its first-aid product lines.