Net Income Drops 27% at Wynn’s International

Feeling the impact of the costs of adding a new manufacturing plant to its Texas operations, assimilating a new operating unit and adding a new line of plastic packaging products, Wynn’s International Inc. reported a 27% drop in second-quarter net income compared to the same period in 1984.

The Fullerton manufacturer of automotive equipment reported net income of $1.49 million for the quarter ended June 30 compared to $2.04 million during the year-ago quarter. Earnings for the 1985 second quarter include $409,000 profit from the sale of a company-owned property.

Net income for the first half of the year also was down sharply, to $2.46 million from $3.9 million during the first half of 1984.

At the same time, sales rose slightly for the quarter to $61.1 million compared with $60.7 million during 1984’s second quarter. For the first six months, sales of $112.9 million were down slightly from $113 million.

“Our overall performance is short of what we had hoped for,” said John F. Lillicrop, Wynn’s president and chief executive. He projected that third-quarter operating results would fall short of 1984’s third quarter.