Earnings at Special Devices Jump During 1st Quarter
- Share via
Special Devices Inc., a Newhall maker of pyrotechnic devices for the aerospace and automobile industries, said its first-quarter net income more than doubled on a 44% increase in sales compared to the same period a year earlier.
Net profit for the quarter ended Jan. 26 was $183,000 compared to $83,000 a year earlier, while sales grew to $6.5 million from $4.5 million, the company said.
The gains were mainly attributable to a greater than threefold increase in sales by the company’s Automotive Products Division, which makes initiators that trigger inflation of automobile air bags in a crash. The increase was due in part to a large shipment of initiators in January that had been held in inventory since October, the company said.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
