Morehouse Industries of Fullerton Reports a 16% Decrease in Profits

Morehouse Industries Inc., the Fullerton manufacturer of industrial equipment and engineered products, reported a profit of $149,000, or 4 cents a share, for the latest quarter, down 16% from $178,000, or 4 cents a share, for the same period a year earlier. Sales for the company’s third fiscal quarter, which ended May 31, rose 10% to $2.2 million from nearly $2 million. For the nine-month period, earnings were up 25% to $501,000, or 13 cents a share, from $402,000, or 10 cents a share. Nine-month sales increased 33% to $6.9 million from $5.2 million.