Calnetics Reports 75% Rise in Quarter’s Profits

Calnetics Corp., the Chatsworth-based maker of plastic components, said its profits jumped 75% on a 32% increase in sales for the first quarter that ended Sept. 30.

The company posted net income of $296,000 in the first quarter compared to a $169,000 profit in the same period a year earlier, while its sales were $8.77 million in the latest quarter compared to $6.65 million a year ago. The improved profitability was due in part to increased sales to agricultural irrigation customers, the company said.