Wickes Cos., the resurgent lumber and building products retailer that is trying to buy Owens-Corning Fiberglas, on Monday reported that net income rose to $26.9 million for the second quarter ended July 26 from $12.7 million in the year-ago period.
Sales for the period also more than doubled, increasing to $1.1 billion from $496.7 million, largely on the strength of the acquisition last September of Gulf & Western's consumer and industrial products group.
The previous year's results take into account completed and pending divestitures.
For the six months, the Santa Monica-based company had net income of $47.5 million on sales of $2.1 billion, compared to $7.5 million on revenue of $878.8 million in the same period last year.
The company became eligible for substantial tax-loss carryforwards during its reorganization under Chapter 11 of the U.S. Bankruptcy Code. It emerged from those proceedings in January, 1985.