TS Industries Reports Record Income Increase

TS Industries Inc., a Huntington Beach maker of roof insulation products, said Monday that, despite a decrease in fiscal third-quarter earnings, net income for the first nine months more than doubled to a record $1.02 million from $498,000 in the same period last year.

The 19.6% decline in the third period ended June 30, to $574,000 from $714,000, was the result of a $193,000 quarterly tax benefit that the company was able to take in last year’s third quarter, said President Harry L. Woodcock.

Sales in the quarter reached a record $8.4 million, a 33% hike over $6.3 million in sales in last year’s third quarter. In the first nine months, sales were up 43% to $21.3 million from $14.9 million.

“The improved results are due to having the Kentucky plant fully operational, bringing the New England plant on line and acquiring the Dallas manufacturing facility,” Woodcock said in a prepared statement.