AirBoss sales up; net income slips

TORONTO (May 17)—While sales increased 40 percent, AirBoss of America Corp.´s net income slipped slightly to $1 million in the quarter ended March 31 from $1.2 million in last year´s period. Revenues came in at $23.1 million compared with $16.4 million in the 1999 first quarter. The company´s rubber mixing division´s volume increased 19 percent in the period and its railway division experienced solid gains, the company said. The firm´s military products subsidiary had a shift in the timing of customer deliveries from the first to the second quarter which resulted in underutilization of the operation´s capabilities, AirBoss said.