TORONTO (May 14)—AirBoss of America Inc.'s net income fell more than sevenfold to $133,250 in the first quarter ended March 31 from $980,850 in last year's first quarter. However, sales for the period rose 10 percent to $24.4 million from $22.1 million last year. Earnings declined primarily because of increased raw material costs, reduced fixed overhead recoveries in the rubber compounding division and increased distribution costs, President Robert L. Hagerman said. AirBoss expects some improvement in the second quarter as a result of stronger April sales in the rubber compounding division and the potential for significant increases in the latter half of the year if automotive and tire markets improve.
AirBoss' earnings down, sales up for quarter
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