3rd-Quarter Profit Plunges at Beverly Hills Fan Co.

Beverly Hills Fan Co., a Woodland Hills-based marketer of ceiling fans, said its fiscal third-quarter profit plunged to $3,000 from $240,000 a year earlier on a 19% decline in sales.

In the quarter ended July 31, the company’s sales fell to $1.81 million from $2.24 million a year earlier. Beverly Hills Fan blamed the declines on mass merchants loading up on fans earlier in the year, which “effectively filled the supply pipeline early and reduced reorders in the third quarter.”

“It is possible that the lower level of sales could continue into the fourth quarter and adversely affect earnings for fiscal 1992,” company President Shelley Greenberg said in a statement.

For the first nine months of its fiscal year, Beverly Hills Fan’s profit fell 28%, to $305,000 from $421,000, despite a 32% sales gain to $6.61 million from $5.02 million.