Flamemaster Reports 26% Drop in Profits
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Flamemaster Corp., a Sun Valley producer of coatings and sealants, said its fiscal second-quarter profit dropped 26% from the year earlier, to $169,856 from $228,975.
The lower earnings in the quarter that ended March 31 came on a 19% decline in Flamemaster’s revenue, to $1.27 million from $1.56 million.
For the first half of its fiscal year, Flamemaster earned $223,424, a 34% decline from $339,010 a year earlier, and its six-month revenue fell 18% to $2.20 million from $2.67 million.
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