Flamemaster, a maker of flame-retardant coatings for electrical cables, reported record sales of $3.9 million for its fiscal year ended Sept. 30, up nearly 25% over its previous fiscal year. Net income was $249,037, or 37 cents a share, up from $62,307, or 9 cents, last year.
For the fourth quarter, the Sun Valley-based company reported slightly lower sales along with higher profits. Sales were down nearly 2% to $949,659, but net income was up 56% to $123,342, or 18 cents a share.
Joseph Mazin, president of Flamemaster, attributed the company's improved profitability to cost-cutting measures, including reduced administrative expenses.