HCC’s Income Rises While Revenue Remains Stable
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HCC Industries, an Encino producer of electronic components, said its net income increased nearly sevenfold in its fiscal second quarter, to $437,000 from $64,000 a year earlier. HCC’s revenue was nearly unchanged at $6.2 million.
For the six months that ended Sept. 30, HCC’s earnings nearly quadrupled to $890,000 from $232,000 a year ago, and revenue rose 3% to $13.3 million from $12.9 million.
Separately, a group of HCC’s top managers moved closer to acquiring the company. The group said Monday it already had 77% of HCC’s stock after making its $9-a-share offer, which was extended until Nov. 29.
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