GREENVILLE, S.C. (May 15)—JPS industries Inc. recorded net income of $1.56 million in the second quarter ended April 28, down 1 percent from $1.58 million in last year's second period. Net sales decreased almost 4 percent to $39.5 million from $41 million. However, earnings from continuing operations increased 4 percent, the company reported. Six-month earnings rose 21 percent to $2.9 million from $2.4 million in the same span last year. Sales for the period improved almost 3 percent to $78.2 million from $76.2 million. Year-to-year price hikes in raw materials, utilities and fuel costs along with industry downturns affected two of JPS' product lines: single-ply membrane and printed circuit boards, the company said. Countering those drops were the continued solid performances of the firm's urethane and industrial glass substrate product lines, it said.
JPS Industries' six-month income up, down in quarter
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].