Redken’s Annual Profits Rise 149%; Sales Up 16%

Redken Laboratories, the Canoga Park hair-care firm, reported a 149% increase in profits on a 16% jump in sales for its fiscal year ended July 31. Net income was $4.88 million or $1.62 per share in fiscal 1987, compared to $1.96 million or 65 cents a share the previous year. Sales for the year were $119.6 million compared to $103.2 million in 1986.

In the fourth quarter, the company reported profits of $1.56 million or 52 cents per share compared to $311,000 or 10 cents a year the prior year. Sales increased by 11% to $31.6 million.

Company Chairman John E. Meehan attributed part of the improved profits to the weaker dollar, which helped spur sales in foreign markets.