Rohr Reports Record Net of $11.7 Million in Quarter
CHULA VISTA — Citing improved operating efficiency and income from investments, Rohr Industries on Thursday reported a record $11.7 million in net income for the third quarter ended May 5, an increase of 19%. It was the 19th consecutive quarter in which Rohr showed an increase in earnings.
Sales dropped 2% to $151.8 million.
For the nine months, Rohr’s net income rose 27% to $34.9 million, while sales dropped 2.5% to $453.7 million.
The company’s backlog of $950 million remains unchanged.
“The results are right in line with our business plan,†according to Harry W. Todd, chairman, president and chief executive of the aerospace systems manufacturer.
The company, he said, “stands in a strong position to grow as the commercial airliner market firms (and) . . . we are maintaining our level of military and space business.â€
Last month, Moody’s Investors Service upgraded Rohr’s debt rating from Ba3 to Ba2 on its $12.5 million in 13.5% subordinated debentures.
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