Flamemaster Reports 51% Quarterly Profit Drop
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Flamemaster Corp., a Sun Valley producer of coatings and sealants, reported a 51% drop in its fiscal first-quarter profit, to $53,568 from $110,035 a year earlier.
The lower earnings in the quarter that ended Dec. 31 came on a 17% decline in Flamemaster’s revenue, to $928,466 from $1.12 million a year earlier. The company attributed the declines to delayed shipments of some products and the weakening economy.
Flamemaster said its sales and deliveries, however, are improving in the current quarter that will end March 31.
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