Morehouse Inc. Reports Lower Sales, Higher Losses
Morehouse Industries Inc., a Fullerton-based manufacturer of equipment for chemical processing companies, reported a net loss of $57,800 for the third quarter ended May 31, an increase from last year’s loss of $30,400. The company posted sales this quarter of $828,500, down 30% from $1.19 million last year.
For the first nine months, Morehouse posted a net loss of $112,800, compared to a loss of $89,100 the same period last year. Sales for the nine-month period were $2.9 million, a 9% drop from last year’s $3.2 million.
Norm Stipp, senior vice president of Morehouse, declined to comment on the company’s decreased sales and increased losses.
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