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REGIONAL EARNINGS

Calnetics Reports Rise in 2nd-Quarter Earnings

August 06, 1996

Calnetics Corp., a Chatsworth manufacturer of plastic industrial components, reported that its second quarter earnings jumped 75% due to improved results at its three subsidiaries.

In the three months that ended June 30, Calnetics earned $661,000, while its sales rose 14% to $9.71 million. A year earlier, its profit was $377,000 on revenue of $8.55 million.

For the six months that ended June 30, the company reported a 65% rise in net income, to $1.67 million from $1.01 million a year before. Its first-half revenue increased 21%, to $35.2 million from $29.2 million.

For the Record
Los Angeles Times Tuesday August 13, 1996 Valley Edition Business Part D Page 7B Zones Desk 2 inches; 64 words Type of Material: Correction
Calnetics earnings--The Times incorrectly reported Aug. 6 the fiscal year-end results of Calnetics Corp. In fact, the Chatsworth-based manufacturer of plastic industrial components reported a 66% jump in profits for its year that ended June 30 on a 21% rise in sales. For the full year, the company had a profit of $1.67 million, up from a $1.01 -million profit a year earlier. Sales for the latest year rose to $35.2 million, up from $29.2 million in fiscal 1995.

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