3rd Quarter Profit Off for Beverly Hills Fan
Beverly Hills Fan Co., a North Hollywood-based maker of ceiling fans, said its fiscal third-quarter profit slipped 2% from a year earlier, to $240,000 from $246,000.
The year-earlier results, however, had included a $56,000 tax credit. Excluding that gain, Beverly Hills Fan’s operating profit climbed 26% from a year earlier. Its revenue in the quarter that ended July 31 jumped 40%, to $2.24 million from $1.60 million.
The company attributed the gains in part to the expansion of its distribution network, which included adding several mass-merchandisers and home-improvement outlets to its list of retail customers.
For the first nine months of its fiscal year, Beverly Hills Fan earned $421,000, up from $327,000 a year earlier, and its nine-month revenue rose 32%, to $5.02 million from $3.81 million.