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Thursday, Mar 28, 2024

Aerospace Contractor Profits Up for Year

Flamemaster Corp. reported a 68 percent increase in net income for the 2008 fiscal year when compared with 2007. The Pacoima-based manufacturer of aircraft sealants and coatings for the aerospace and defense industries had a net income of $608,760, or $0.50 per diluted share, on revenues of $6 million for the year ending Sept. 30. For the previous year the company had net income of $363,169, or $0.30 per diluted share, on revenues of $6.3 million. The company attributed the difference to its move to a larger facility in 2007 that resulted in additional costs and disruption of production. For the fourth quarter, Flamemaster had net income of $118,676, or $0.10 per diluted share, on revenues of $1,597,815. That is a 34.5 percent decrease from the net income of $181,419, or $0.15 per diluted share, on revenues of $1.4 million for the same period last year.

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