HIBBING, Minn. (March 15)—Industrial Rubber Products Inc. moved back into the black in the fourth quarter ended Dec. 31, recording net income of $68,722 on sales of $4.7 million, compared to a net loss of $1.1 million on sales of $3.4 million in last year´s fourth period. The quarter´s results helped Industrial Rubber Products turn a net profit of $84,465 on sales of $18.5 million for 2000. The company reported a net loss of $1.6 million on sales of $13 million in 1999. Fourth-quarter results exceeded Industrial Rubber Products´ projections earlier in the year. The firm attributed the turnaround to a diversification program that kicked in early in 2000 and cost reduction incentives.
Industrial Rubber turns profit
Rubber & Plastics News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].