Belcor Inc. Posts Income After Key Acquisitions

Belcor Inc., an Irvine holding company formed to acquire a variety of private companies, said net income for its fiscal 1986 third quarter totaled $134,605, compared with an operating loss of $6,382 for the same period a year ago. An extraordinary gain of $7,786 from debt restructuring brought net earnings for the third quarter of the company’s fiscal 1985 to $1,404. Revenues for the period ended July 31 totaled $2.8 million, more than a tenfold increase from $250,589 last year.

For the first three quarters of the fiscal year, the company posted total income of $175,216, compared with an operating loss of $80,146. Belcor also posted an extraordinary gain of $434,986 for the nine-month period a year ago, bringing net earnings to $354,840. Revenues for the nine months totaled $6.2 million, an increase from $759,147.

A spokesman credited much of the improvement to the performance of two companies acquired by Belcor earlier this fiscal year--Aargus Polybag Co., a Chicago-based maker of polyethylene bags, and AL Industries, a Santa Ana-based maker of specialized metal parts.