Calnetics Corp. Posts $181,000 in Profits
Calnetics Corp., a Chatsworth-based manufacturer of plastic tubing and components, reported a sharp rise in earnings for the company’s second fiscal quarter that ended Dec. 31.
Calnetics reported a profit of $181,000 in the December quarter, up 46% from $124,000 a year earlier. Sales rose to $6.27 million, up 72% from $3.66 million a year earlier.
For its six-month period, the company reported a profit of $350,000 on sales of $12.9 million, compared to year-earlier earnings of $232,000 on sales of $7.59 million.
The company attributed the improved financial results to its April acquisition of Agricultural Products Inc., an Ontario-based manufacturer of plastic components for agricultural irrigation systems.