Calnetics Reports Record Profits, Sales

Calnetics Corp., a Chatsworth maker of molded-plastic machine components, said it posted record profits and sales in the third quarter and nine months that ended March 31.

Net income for the quarter was up 108% to $279,000 from $134,000 in the same three months a year earlier. Sales for the latest quarter were $7.7 million, up 88% from $4.1 million in the same period last year.

For the nine months, net income was up 72% to $629,000 from $366,000 in the first nine months last year. Sales for the nine months were $20.6 million, up 76% from $11.7 million a year earlier.

The company attributed the improvement in quarterly and nine-month results to the acquisition last April of Agricultural Products Inc., and to good results from two other subsidiaries, Manchester Plastics Inc. and Ny-Glass Plastics Inc.