Chesapeake Reports Net of $1 Million for Year
Chesapeake Industries Inc. reported net income of $1 million for its 1986 fiscal year, ended June 30. The Newport Beach-based manufacturer of wooden doors and panels had net income of $1.7 million for the prior year, which included a tax credit and a gain from the sale of real estate. Sales for fiscal 1986 totaled $32.8 million, a 6.8% increase from $30.7 million.
For its fourth quarter, Chesapeake reported net income of $335,000, down 21% from $425,000. Sales of $9.1 million were up 13.8% from $8 million.
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