Plastics Manufacturer Says Its Net Income Surged
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Calnetics Corp. of Chatsworth, a plastic components manufacturer, reported net income of $151,000 for the fiscal fourth quarter that ended June 30, compared with $18,000 in net income a year earlier. Revenues were $3.45 million, up from $764,000.
For the year, Calnetics earned $521,000, in contrast to $187,000 in net income in fiscal year 1989. Revenues surged to $11.8 million from $3.57 million.
The company attributed the revenue and earnings gains to its acquisition of Manchester Plastics Co. last September.
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