Calnetics Reports Profit Doubled in 2nd Quarter

Calnetics Corp., a Chatsworth plastics concern, said its fiscal second-quarter profit more than doubled from a year earlier on a 32% sales gain.

In the quarter that ended Dec. 31, Calnetics’ net income rose to $115,000 from $42,000 a year earlier, and its sales climbed to $4.16 million from $3.15 million. Improved business conditions and a plant consolidation contributed to the gains, Calnetics said.

For the first half of its fiscal year, Calnetics’ profit was still off 48%, to $186,000 from $361,000 a year earlier, which included a $247,000 gain from the sale of property. Its six-month sales rose 26%, to $7.98 million from $6.31 million.