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VALLEY EARNINGS

Olson Industries Loses $1.75 Million in Quarter

November 17, 1987

Olson Industries, struggling to return to profitability after changing its business mix, lost $1.75 million in the third quarter compared with profit of $400,000, or 60 cents a share, a year earlier.

Olson, a Sherman Oaks-based concern that recently shed its huge egg business to concentrate on the production of plastic containers, said the net loss in the quarter ended Sept. 30 included a $1.1 million loss from disposing of its egg business and a $654,000 loss from continuing operations.

Because of the company's reorganization, Olson has restated its 1986 sales to include only the sales from its plastics business.

Third-quarter sales climbed 17% to $15.9 million from $13.6 million. For the first nine months of 1987, Olson lost $5.5 million on sales of $46.7 million. A year earlier, the company earned $2.4 million, or $3.58 a share, on sales of $42.8 million.

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