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component excellence
q u a l i t y • p e r f o r m a n c e • d e p e n d a b i l i t y
2009 Annual Report

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As a North American manufacturer of
components used in a broad range
of products, we found 2009 to be a
very challenging year as the world economy
and the domestic manufacturing industry
in particular experienced further declines.
With revenues off 30% from the prior year,
we were aggressive in making additional
adjustments to our cost structure early in
the year. This required our operating team
to do more with less in the short term, but
has helped position us to realize significant
benefits for the business in the long term.
These cost changes, however, were not
sufficient to overcome the decline in
sales, as our gross margin percentage was
negatively impacted by the underutilization
of each of our facilities. We also experienced
the negative impact of $5.3 million in costs
relating to litigation expenses incurred
defending intellectual property matters and a
write-down in the value of certain assets held
for sale, resulting in a net loss for the year.
Despite the loss, we generated $15.3 million
in positive cash flow from operations. The
significant cash flow was made possible not
only by the concentration of effort on our
cost structure, but also through aggressive
management of working capital. We reduced
our days in inventory by 6 days compared
to the end of 2008, even at the significantly
lower sales pace. We also reduced accounts
receivable days sales outstanding by 4
days over the same period. Continuing to
generate cash flow from operations provided
us with the ability to maintain our quarterly
dividend payments as we returned 50¢ per
share to our shareholders during the year.
A great deal of effort was focused during
2009 on responding to the difficult
economic environment, but at the same
time our organization continued to invest to
enhance our product offering and expand
our customer base. Examples shown on
the front cover of this report represent
new electronic locks in our Security
Products division and the introduction
of digital technology to throttles in our
Marine Components division. Our Furniture
Components unit continues to broaden its
ergonomic product line for the office.
As we head into 2010 with the potential
of an improving economic environment, we
expect to leverage our lower cost structure,
enhanced product offering and expanded
customer base to begin to return to
acceptable levels of operating margins and
improved cash flows.
David A. Bowers
President and Chief Executive Officer
Cash Flow
from Operations
message to our stockholders
Sales (in millions)
Gross Margin %
Sales & Gross Margin
EBITDA (in millions)
EBITDA Margin %
* Excludes goodwill charge

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Exchange Listing
CompX International Inc. Class A Common
Stock is traded on the New York Stock
Exchange under the Symbol “CIX”
Annual Meeting
The annual meeting of stockholders will
be held Wednesday, May 26, 2010, at
10:00 a.m. at:
Corporate Headquarters
CompX International Inc.
5430 LBJ Freeway, Suite 1700
Dallas, Texas 75240
All stockholders are welcome to attend.
Transfer Agent & Registrar
Computershare Investor
Services, L.L.C.
PO Box 43036
Providence, RI 02940-3036
Independent Auditors
PricewaterhouseCoopers LLP
2001 Ross Avenue, Suite 1800
Dallas, TX 75201
Form 10-K Report
The Company’s Annual Report on Form
10-K for the year ended December 31,
2009, as filed with the Securities and
Exchange Commission, is included as
part of this Annual Report. Copies of
the Annual Report are available free
of charge at the Company’s website at Copies are also available
without charge upon written request to:
A. Andrew R. Louis
CompX International Inc.
Three Lincoln Centre
5430 LBJ Freeway, Suite 1700
Dallas, TX 75240
stockholder information
of directors
Glenn R. Simmons
Chairman of the Board
David A. Bowers
Vice Chairman of the Board,
President and
Chief Executive Officer
Norman S. Edelcup
Sunny Isles Beach, Florida
Edward J. Hardin
Rogers & Hardin LLP
Ann Manix
Summus, Ltd.
Steven L. Watson
Valhi, Inc.
Glenn R. Simmons
Chairman of the Board
Corey J. Boland
Vice President and President,
CompX Furniture Components
David A. Bowers
Vice Chairman of the Board,
President and
Chief Executive Officer
Darryl R. Halbert
Vice President,
Chief Financial Officer
and Controller
J. Mark Hollingsworth
Vice President, General Counsel
and Assistant Secretary
Scott C. James
Vice President and President
CompX Security Products,
CompX Marine
Kelly D. Luttmer
Vice President and Tax Director

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