Universal Security Instruments Inc. announced preliminary results for the fourth quarter and year ended March 31, 2014. The company anticipates a net loss for the fourth quarter of approximately $1,369,305, or $0.59 per basic and diluted share, on sales of $2,636,933. This compares to net income of $104,973, or $0.04 per basic and diluted share, on sales of $4,113,976 for the comparable period of the previous year.

For the 12 months ended March 31, 2014, sales decreased approximately 18% to $12,577,127 versus $15,383,877 for the same period last year. The company expects to report a net loss of approximately $4,315,244, or $1.88 per basic and diluted share, versus a net loss of $452,561, or $0.20 per basic and diluted share, for the same period last year.