Although sales of its aircraft plastics products have been on the rise, Swedlow Inc. of Garden Grove reported that fourth-quarter and full-year profits dropped because of the start-up costs of a new product.
For the full year, profits of $1.4 million were down 26% from $1.9 million, while revenues of $54.7 million increased 18% from $46.3 million.
For the quarter ended March 30, profits were $455,000, down 11% from $514,000. Quarterly sales were $15.2 million, a 19% increase from $12.8 million.
David A. Swedlow, chairman and chief executive, said the company's increased sales were the result of new military orders for its aircraft windshields, canopies and windows. However, he said profits were eroded by the costs of starting production of some of the products.