CIMCO’s Net Earnings Rise 240% in Quarter

CIMCO said net earnings for its fiscal second quarter ended Oct. 31 increased 240% to a record $571,801, from $168,148 for the same period a year ago. Revenues during the quarter rose 45.2% to $9 million from $6.2 million.

The Costa Mesa-based plastics manufacturing concern also reported record first-half net earnings of $1 million, up 155% from $392,052 a year earlier. First-half revenues increased 45% to $17.5 million from $12.1 million a year ago.

CIMCO, a 27-year-old company which had its initial public offering earlier this year, attributed the strong showing primarily to increased sales and profits at its molded medical components division.