Olson Industries Trims Losses in 3rd Period

Olson Industries, a Sherman Oaks maker of plastic packaging goods, reported a $799,960 loss for the third quarter, down from a $1.66-million loss a year earlier. Olson’s sales rose 8% to $17.8 million from $16.5 million.

Olson’s main operating arm is Dolco Packaging, which is reorganizing under Chapter 11 of federal bankruptcy laws. The company has struggled in recent quarters mainly because of higher prices for resin, a key raw material in its packaging products, Olson said.

But resin prices began declining in the latest quarter, which helped narrow Olson’s loss, the company said.

Still, Olson lost $2.38 million in the first nine months of 1989, compared with a $3.12-million loss a year earlier. Its nine-month sales rose to $54.8 million from $50.1 million.