Safety Components’ Profit Soars

Safety Components International Inc. said profit more than doubled in the fiscal third quarter on record sales.

Net income for the company, which makes automotive air bags and supplies defense products, totaled $1.3 million, or 25 cents a share, for the quarter ended Dec. 31, up from $579,000, or 14 cents a share, for the same period a year earlier. Sales rose 65% to $24.4 million from $14.8 million.

For the nine months, net income increased to $3.7 million, or 75 cents a share, from $1.2 million, or 31 cents a share, for the same period a year ago. Sales were up to $73.4 million from $34.3 million.