AFG Industries Reports 69% Gain in 3rd-Period Net for New Record

AFG Industries Inc., an Irvine glassmaker, posted another quarter of record earnings.

Net income for the third quarter ended Sept. 30 was $97.6 million, a 69% increase over earnings of $78.6 million for third quarter 1985. Total revenues were $114.2 million contrasted with $88.3 million.

For the nine-month period, the company reported net income of $260.2 million, contrasted with $210.8 million for the comparable period last year. Nine-month revenue increased to $302.7 million from last year’s $235.4 million.

During the third quarter, the company acquired Hamilton Glass Products Inc. of Vincennes, Ind., a flat-glass fabricator, for an undisclosed amount, AFG Treasurer Gary Miller said.