Summa Industries: The Fullerton industrial equipment manufacturer,...
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Summa Industries: The Fullerton industrial equipment manufacturer, formerly Morehouse Industries, reported a quarterly profit of $231,000, or 15 cents a share, which included an extraordinary gain of $100,000 from an accounting change. That compared to earnings of $143,000, or 14 cents a share, for the same period a year earlier. Sales for the company’s first fiscal quarter, which ended Nov. 30, rose 57% to $3.3 million from $2.1 million. The company said the sales increase was primarily because of a subsidiary acquired July 30.
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