Silvercrest Posts Earnings of $502,000 for 1st Quarter

Silvercrest Industries posted net earnings of $502,000 for its fiscal 1987 first quarter ended Sept. 30, contrasted with a net loss of $64,000 for the same period last year. Revenues for the quarter were $14.5 million compared to $15.3 million a year ago.

Gary King, chief financial officer for the Santa Ana-based mobile home manufacturer, said the high first-quarter earnings--almost double the company’s earnings for the entire 1986 fiscal year--were due to a combination of cost-control measures plus growth in the company’s market niche. Silvercrest’s core business, King said, is manufacturing mobile homes in the $35,000 to $70,000 price range.