Flamemaster Net Income Drops 42% in 3rd Quarter

Flamemaster posted a 42% drop in net income for the third quarter, from $286,455 in 1997 to $165,969 this year, but saw a nearly 19% gain in earnings for the nine months that ended June 30.

The Sun Valley-based manufacturer of specialty chemicals and adhesives reported earnings of $428,200 for the nine-month period, compared with $360,246 in the year-ago period.

The company also reported a 12% increase in revenue for the nine-month period, $2.866 million compared with $2.562 million for the corresponding period a year ago.

Third-quarter income rose dramatically last year due to increased sales of higher-margin products and a lower percentage of government sales, the company said.