Cimco Quarterly Profit Plunges Dramatically

Cimco Inc., the Costa Mesa manufacturer of plastic components for commercial, industrial and medical markets, reported a profit of $27,000, or 1 cent a share, for its fiscal 1994 second quarter, down from $279,000, or 10 cents a share, for the year-earlier period.

Sales for the quarter ended Oct. 31 declined 3% to $18.6 million from $19.2 million. For the first half of its fiscal 1994, Cimco’s profit dropped almost 80% to $134,000, or 5 cents a share, from $649,000, or 22 cents a share. Sales for the first six months were flat at $37.9 million.