Admar Group Says Third Quarter Net Increased by 214%

The Admar Group Inc. said net earnings for its fiscal 1987 third quarter, ended Oct. 31, increased 214% to $195,000 from $62,000 a year earlier. Citing its rapid expansion during the year, the Orange-based health care company said fiscal third-quarter revenues increased 135% to $2.3 million from $976,000 for the third quarter of its fiscal 1986.

For the first nine months, Admar said, net earnings rose 183% to $533,000 from the year-earlier figure of $188,000. Revenues totaled $6.4 million, up 121% from $2.9 million.

Admar became a public company in August when it merged with Castle Ventures Corp., an investment company. Under terms of the agreement, Admar traded all of its common stock for an 85% stake in Castle. After the merger, Castle, which had no operations of its own, changed its name to Admar.