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Wynn’s International Inc. reported a 42% increase...

Wynn’s International Inc. reported a 42% increase in net income for the second quarter, to $1.7 million from $1.2 million for the like quarter last year. Sales decreased 13%, to $70.5 million from $80.6 million. The company attributed the decline to significantly lower sales at its automotive air-conditioning subsidiary, due to the nationwide drop in new car and truck sales. Net income for the first six months totaled $4.9 million, which included a gain of $1.4 million from the sale of the company’s interest in a joint venture. For the first half of 1988, net income was $990,000, which included a charge of $1 million for costs associated with management changes and termination of the company’s Supplemental Retirement Plan. Net sales for the first six months of 1989 dropped 5%, to $143.6 million from $150.8 million for the comparable 1988 period. Wynn’s, headquartered in Fullerton, is a supplier of automotive air conditioners, O-rings, seals, molded rubber products, petrochemical specialties products and builders hardware.


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