Chesapeake Industries Reports Net of $103,000
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Chesapeake Industries Inc. reported net income of $103,000 for its fiscal 1987 first quarter ended Sept. 30, down 64% from net income of $286,300 for the comparable period a year ago.
The Newport Beach-based holding company said revenue for the period was $9.6 million, up 18.5% from $8.1 million a year earlier.
The maker of wooden doors attributed the reduced earnings to expenses associated with the start-up of its Continental Door Inc. unit in June and the September move of its Western Industries Inc. unit to a new facility.
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