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Calnetics Reports 32% Rise in Quarterly Profit

VALLEY AND VENTURA COUNTY BUSINESS | REGIONAL EARNINGS

January 21, 1997

Calnetics Corp., a Chatsworth manufacturer of plastic bobbins, said its profit for the fiscal second quarter that ended Dec. 31 was up 32% to $359,000 from $271,000 in the corresponding period last year.

Revenue for the quarter was $8.6 million, up 13% from $7.6 million last year.

For the first six months of the fiscal year, the company earned $763,000, up 35% from $567,000 last year. Revenue was $17 million for the six-month period, up 4% from $16.4 million last year.

The company makes bobbins for irrigation systems and warned that recent floods in Northern California are likely to cause some orders to be delayed in coming months.

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