Ropak Corp., the Fullerton maker of plastic containers, said third-quarter net income was $604,000, a 13.7% increase from $531,000 for the same period last year. Revenues of $13.6 million were up 43.4% from $9.5 million.
For the first nine months of the year, the company's net income was $1.45 million, up 4.4% from $1.39 million. Revenues of $35.5 million were up 42% increase from $25 million.
The company attributed the increased revenue in part to the seasonal sale of containers that are made at its recently acquired plants in the Pacific Northwest and East. The containers are used in the agricultural and fishing industries.
Ropak also pointed out that costs for its raw materials increased substantially in October, necessitating a price adjustment for its products to preserve the company's profit margins. The company said that this, plus increased price competition and the costs of consolidating operations at the acquired plants, has driven down this year's anticipated net income.