Flamemaster’s Revenues and Profits Drop Sharply

Flamemaster Corp., a Sun Valley maker of sealants and coatings, reported a sharp drop in its profits and revenues for its fiscal third quarter and nine-month period.

In the three months that ended June 30, Flamemaster earned $112,489, down 52% from $232,337 in net income a year earlier. Its revenue fell 34%, to $911,788 from $1.37 million.

The company’s nine-month profit declined 50%, $301,596 from $600,119 in the same period a year before. Its nine-month revenue fell 37%, to $2.5 million from $3.99 million.

Flamemaster said its results were hurt by lower sales to the U. S. government due to the loss of a major aircraft sealants contract to Morton International. Flamemaster has sued Morton, accusing the larger company of predatory pricing on the government contract and breaching a confidentiality agreement.