Products Research Shows 5% Increase in Profit
Products Research & Chemical, citing increased shipments to the aerospace and defense industries, said its fiscal third-quarter earnings rose 5% on an 11% increase in sales.
The Glendale maker of chemicals, sealants and coatings said net income in the quarter that ended June 30 rose to $2.18 million, or 27 cents a share, from $2.08 million, or 22 cents a share, a year earlier. Sales climbed to $27.8 million from $25 million.
Products Research’s profit for the first nine months of its fiscal year was up 5% to $6 million, or 73 cents a share, from $5.73 million, or 61 cents a share, a year earlier. Nine-month sales also gained 5% to $74.4 million from $71 million.