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Armor All Sees Profits Jump 63%

July 22, 1992|JOHN O'DELL | TIMES STAFF WRITER

ALISO VIEJO — Armor All Products Corp. said Tuesday that profit for its latest fiscal quarter rose 63%.

The company, a leading maker of automotive appearance products, reported net income of $4.4 million, or 21 cents a share, for its first fiscal quarter ended June 30. That compared to a profit of $2.7 million, or 13 cents a share, for the same period a year earlier. Revenue totaled $42.3 million, up 21% from $34.8 million a year earlier.

Kenneth Evans, president and chief executive officer, attributed the improved financial results--Armor All's fifth consecutive quarter of increasing net earnings--to a new advertising and promotions campaign and to strong sales of the company's principal product, Armor All Protectant, which accounts for 75% of revenue.

In addition, Evans said, new products represented 7% of sales in the latest quarter.

Those products included Armor All Tire Foam, a spray-on tire cleaner introduced last year to compete with Irvine-based No Touch Corp.'s spray tire cleaner and polish.

Evans said that, while Armor All executives do not expect the growth rate achieved in the latest quarter to continue for the full fiscal year, they do expect a strong performance for the entire 12 months.

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