Plastics Manufacturer Says Its Net Income Surged

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.