Wynn’s International Signals Earnings Drop

Wynn’s International Inc., an auto parts and specialty chemical supplier, said Friday it expects to report a decline in third-quarter earnings because strikes at General Motors Corp. and the Asian economic crisis hurt sales. The Orange-based maker of rubber sealing products and lubricants used in cars, planes and ships estimated that net income for the quarter ended Sept. 30 fell about 6% to $6 million, or 30 cents to 31 cents a share, from $6.4 million, or 32 cents, in the year-ago quarter. The year-ago per-share figure reflects a 3-for-2 stock split last December. GM strikes in July cut into sales at the Wynn’s-Precision Inc. unit, which makes sealing products such as O-rings and gaskets. The Asian slump hurt the specialty chemicals division’s sales to distributors in the region, Wynn’s said. The company has since recovered from the strikes and hopes to expand into other markets to offset the slowdown in Asia, said James Carroll, chairman and chief executive. Wynn’s shares fell 94 cents to $15.63 after reaching a 52-week low of $15.06 earlier in the trading session. The company is scheduled to report earnings Oct. 19