Calnetics Shows a Profit on 18% Sales Increase

Calnetics Corp., a Chatsworth plastics concern, posted a small profit for its fiscal fourth quarter on an 18% sales gain.

The company earned $147,000 in the three months ended June 30, contrasted with a loss of $55,000 for the same period a year earlier. Revenue in the latest quarter rose to $4.43 million from $3.74 million in 1992’s fiscal fourth quarter.

Calnetics attributed the increased profit and revenue to acquiring certain assets of Plastic Science’s operations in Corona, an aggressive sales push and cost-containment steps.

For the fiscal year, Calnetics’ profit jumped 23%, to $502,000 from $407,000 last year. Sales climbed 22% to a record $16.6 million from $13.6 million a year earlier.