Wynn’s Sees Revenue Down as Net Income Increases 71%

Wynn’s International Inc., the Fullerton-based car products company, posted a 71% gain in net income for 1989, but said that continued lower sales in its automotive air-conditioning subsidiary resulted in a revenue decline.

Net income totaled $7.6 million for the year, which included a first-quarter gain of $1.4 million from the sale of a joint venture interest. In 1988, the company reported $4.4 million in net income. Sales were $283.9 million, about 4% lower than the $296 million recorded in 1988.

For the fourth quarter, net income fell 34%, to $1.5 million. The $2.2 million reported for the like period in 1988 included a gain of $1 million from the sale of real estate. Sales declined about 4%, to $67.5 million from $70.2 million.