Flamemaster’s Earnings Drop 51% in 4th Quarter
Flamemaster Corp., a Sun Valley maker of aircraft sealants, adhesives and coatings, saw its earnings plunge by half in its fiscal fourth quarter. The decline resulted from a liability of $50,000 to cover cleanup costs on property it once leased and from the severe slump in defense and aerospace markets, it said.
In the three months that ended Sept. 30, Flamemaster earned $84,888, down 51% from a $172,047 profit a year earlier. Its revenue rose 17% in the recent period, to $1.03 million from $884,771.
In the latest fiscal year, the company’s profit fell 73%, to $129,873 from $473,643 in the year prior.
Its revenue slipped 2%, to $3.32 million from $3.39 million.