Olson Industries Loses $914,730 in 2nd Quarter

Olson Industries, a Sherman Oaks plastics-packaging concern, reported a second-quarter loss of $914,730, compared with a loss of $1.04 million a year earlier.

The loss came despite an increase in sales in the quarter that ended June 30, to $17.9 million from $16 million. Olson, as it has in recent quarters, blamed the loss mostly on higher prices for resins, the main raw material used in its packaging goods.

Olson’s principal unit, Dolco Packaging Corp., is operating under Chapter 11 of the U. S. Bankruptcy Code, whereby it is protected from creditors’ lawsuits while working out a plan to restructure its finances.

For the first half of 1989, Olson lost $1.58 million, compared with a loss of $1.46 million a year earlier. Six-month sales rose to $37 million from $33.6 million.