Haskel’s Earnings Surge 41% as Revenue Slips

Haskel International Inc., a Burbank manufacturer of high-pressure liquid pumps and gas boosters, reported that its fiscal first quarter earnings surged 41%, despite an 8% decline in sales.

The company, which also distributes electronic components, earned $722,000 in the three months ended Aug. 31, up from a profit of $513,000 a year earlier. Sales fell to $13.3 million from $14.4 million.

Haskel said the improved earnings reflected continued strength in its core industrial products group, which benefited from expanding European and Pacific Rim markets. But a disappointing performance by its electronics products group accounted for the decrease in revenues.