Sierracin Profit Shows Nearly Fourfold Increase

Sierracin said its profit in the fourth quarter that ended Dec. 31 nearly quadrupled, to $530,000, or 16 cents a share, from $134,000, or 4 cents a share. Sales for the Sylmar aerospace equipment company fell 6% in the quarter, to $17.9 million from $19 million a year earlier.

The company attributed the profit rise to cost-cutting, higher productivity and increased export sales.

For all of 1987, Sierracin’s earnings more than tripled, to $2 million, or 60 cents a share, from $642,000, or 19 cents a share, even though sales increased less than 1%, to $72.8 million. The 1987 profits were boosted by $400,000 in tax benefits.

Sierracin disclosed in January that it is the subject of an investigation by the Securities and Exchange Commission related to its activities from 1983 to 1986.