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EARNINGS

Ropak Corp. Profits Drop by 27% in '86; Revenues Rise 48%

March 04, 1987|HENRY RIVERO

Ropak Corp. said its profits for 1986 declined by 27% to just over $1 million from $1.37 million the year before. Revenue for the year, however, hit a record $47.6 million, up 48% from $32.2 million in 1985.

For the fourth quarter, the Fullerton maker of plastic shipping containers lost $448,000, contrasted with a $12,000 net loss for the same period a year ago. Revenues for the quarter jumped 67% to $12.1 million from $7.2 million.

William H. Roper, chairman of the company, blamed the income decline primarily on the removal last year of the investment tax credit, which drove up the company's taxes. He also said the normal seasonal decline during this time of year for some of Ropak's products, which are used in the agricultural and fishing industries, bit into the company's profits.

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