The combined effects of an increased share of its market and a seasonal hike in sales resulted in a near-quadrupling of third quarter net income for Ropak Corp., the company said Monday.
The Fullerton-based maker of plastic containers said net income for the period ended Sept. 30 jumped to $531,000 from $132,000 in the same period a year earlier. During the same period, revenues more than doubled, to $9.5 million from $4 million.
Nine-month net income also rose sharply, to $1.4 million compared to d458,000 during the same 1984 period. Nine-month revenues rose to $25 million from $11 million reported during the year-earlier period.
William H. Roper, chairman, said that the large gains reflect increases in market share because of Ropak's purchase last year of a major competitor, and seasonally high shipments of containers for agricultural products such as strawberries.