4th-Quarter Earnings Up 71% at Calnetics Corp.
Calnetics Corp., a Chatsworth manufacturer of molded plastic industrial components, reported a 71% increase in its fiscal fourth-quarter earnings, to $251,000.
A year earlier, Calnetics earned $147,000. Its sales in the quarter ended June 30 totaled $6.3 million, up 42% from $4.43 million in sales a year before.
Calnetics’ fiscal 1994 profit was $617,000, a 23% gain from $502,000 in net income in the prior year. Sales grew 9%, to $18 million from $16.6 million.
The company attributed the growth in sales and earnings to its April acquisition of Agricultural Products Inc. and a strong performance by its Manchester Plastics subsidiary.