American Pacific Mint Posts Gain in Quarter

American Pacific Mint, a Woodland Hills-based wholesaler and retailer of precious metals and jewelry, reported net income of $149,194 for the second quarter ended June 30, compared to a loss of $141,704 a year earlier. Revenue grew more than fourfold to $8.6 million from $2.1 million.

Robert L. Zuber, American Pacific Mint’s chief financial officer, credited the company’s increasing diversification into the jewelry business for the improved results. The firm intends to keep selling gold and silver bullion, its original business, Zuber said. But it plans to further emphasize its jewelry lines to offset its vulnerability to swings in the bullion market.

The company also cited its recent acquisition of a controlling interest in Alaska Precious Metals Ltd. as contributing to the improved results.

In the first six months of 1989, American Pacific Mint earned $45,432, compared to a $338,421 loss in the first half of 1988. Six-month revenues more than doubled to $12.6 million from $5.5 million.