Fluorocarbon Reports Its Best 2nd Quarter

The Fluorocarbon Co., a Laguna Niguel-based rubber and plastics molder, Thursday posted the best second quarter and first half in company history. Second quarter operating earnings rose 10 percent to $1.4 million compared to net income of $1.3 million in the same period a year ago.

The company reported a one time after-tax gain of $625,032, or 15 cents a share, on the sale of the semiconductor business completed in the second quarter of this year bringing net income for the quarter to $2 million.

Second quarter sales rose 6% to $30.3 million from the $28.5 million posted in the first half of 1984.

For the first six months of fiscal 1985, net income rose 54% to $3.4 million compared with $2.2 million a year ago.

Sales for the first six months rose 13 percent to $62 million compared with $55.1 million for the first half of last year. “This was the best second quarter and best first half in our history,� said Chairman Peter Churm in a statement. “Our business, especially in rubber, has softened the past several months. We hope for renewed strength in the second half.�

At its regular quarterly board meeting on Aug. 27th, Fluorocarbon directors increased the quarterly dividend from 6 to 7 cents per share. This is the second dividend increase in six months. The company recently sold its semiconductor business to a group of managers for about $12 million.