Calnetics Posts 21% Drop in 3rd-Quarter Earnings

Calnetics Corp., a Chatsworth maker of molded plastic components and other plastic products for industrial plastics and building materials industries, reported a 21% decline in its fiscal third-quarter earnings.

In the three months that ended March 31, Calnetics had a net income of $134,000 on revenue of $4.1 million. A year earlier, the company had a $169,000 profit on $4.16 million in revenue.

Calnetics’ nine-month profit was $366,000, up slightly from the $355,000 in net income in the same period a year before; its revenue fell to $11.7 million from $12.1 million, a 4% decline.