Olson Industries Reports Profit in 4th Quarter

Olson Industries, Inc. in Sherman Oaks reported a $296,000 profit for the fourth quarter, compared with a $979,000 loss a year earlier. Its sales were virtually flat at $18.7 million.

Olson’s only operating unit is Dolco Packaging, a maker of plastic packaging products that is currently reorganizing under Chapter 11 bankruptcy proceedings. Olson attributed the earnings improvement largely to a 5% drop in prices of resin, the main raw material in Olson’s products.

For all of 1989, Olson lost $2.08 million on sales of $73.5 million, compared with a loss of $4.1 million on sales of $68.8 million the previous year.