ITASCA, Ill. (Oct. 8)—Medical and foodservice glove supplier WRP Corp. suffered a 78.8-percent drop in net income for the fiscal year ended June 30 as sales fell 21.5 percent. WRP, which manufactures all its products overseas, chalked up the declines to the loss in early 2000 of its largest single customer, Novation, which at that time represented 35 percent of sales. Fiscal 2001 sales were $51.9 million, down from $66.1 million a year earlier; net earnings fell to $529,000 from $2.5 million, WRP said. Counteracting the effects of the lost Novation business were improvements in manufacturing efficiency and higher capacity utilization at the firm's PT WRP Buana Multicorpora subsidiary in Indonesia.
WRP sales, earnings fall in 2001
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