Calnetics Shows 22% Hike in 3rd-Quarter Net Income

Calnetics Corp. posted a 22% jump in its third-quarter net income on a 2% rise in sales.

For the quarter that ended March 31, Calnetics posted net income of $542,000, up from net income of $444,000 in the same period a year earlier. Sales for the quarter were $9.26 million, up from $9.09 million.

For nine months, Calnetics posted net income of $1.3 million, up from $1 million a year earlier. Sales for the nine months rose 3% to $26.3 million, up from $25.5 million.

Calnetics is a Chatsworth-based manufacturer of various components and fittings used in the industrial plastics and building materials industries.