Calnetics Reports Rise in 2nd-Quarter Earnings

Calnetics Corp., a Chatsworth manufacturer of plastic industrial components, reported that its second quarter earnings jumped 75% due to improved results at its three subsidiaries.

In the three months that ended June 30, Calnetics earned $661,000, while its sales rose 14% to $9.71 million. A year earlier, its profit was $377,000 on revenue of $8.55 million.

For the six months that ended June 30, the company reported a 65% rise in net income, to $1.67 million from $1.01 million a year before. Its first-half revenue increased 21%, to $35.2 million from $29.2 million.