Bolstered by a record backlog of new orders, Swedlow Inc. reported Monday a 37% increase in third-quarter net earnings and a 20% sales increase for the same period.
The Garden Grove-based manufacturer of acrylic products used by the military reported net income in the third quarter rose to $597,000 from $437,000 in the corresponding period last year. Sales rose to $11.8 million in the third quarter, ended Dec. 23, 1984, from $9.9 million in the third quarter of 1983.
David A. Swedlow, chairman and chief executive, primarily credited the new order backlog for the earnings boost. The backlog "indicates the strengthening of the aerospace market," Swedlow said.
For the nine months ended Dec. 23, net income was $1.36 million compared to $1.35 million in the year-earlier period. Sales rose to $33.5 million, up from $30.4 million in the same 1983 period.