American Biltrite 2nd quarter net profits slide

WELLESLEY HILLS, Mass. (Aug. 7)—A weak housing market hurt Congoleum Corp.´s sales, and resulted in a decline in net earnings for the second quarter for parent American Biltrite Inc. The company reported its net earnings slipped 26.1 percent to $984,000, while sales were off 1.5 percent to $102.4 million. American Biltrite´s Canadian division had higher sales but slightly lower earnings, the tape operation had better sales and profits, and K&M Associates L.P. posted improved results.