HCC Industries Earns $35,000; Cites Lower Costs

HCC Industries posted a $35,000 profit in its fiscal first quarter ended June 27, compared with a $184,000 loss a year earlier.

The Encino maker of precision electronic components said the profit, equal to 2 cents a share, would have been larger except for a $39,000 one-time loss from the settlement of an environmental claim filed against HCC by the federal government.

HCC attributed its return to profitability to lower prices for materials, reduced interest expenses and higher interest income.

The company’s first-quarter sales fell 5% to $9.1 million from $9.6 million.