GREENVILLE, S.C. (Dec. 28)—JPS Industries Inc. has turned around strongly, reporting double-digit improvements in earnings and sales for the fourth quarter and fiscal year ended Oct. 30.
The maker of extruded urethanes, polypropylenes and specialty industrial products reported improvements in gross earnings for the largely on the positive effects of higher volume sales. Focusing on cost reduction and containment allowed JPS to manage raw material and energy cost increases through the combination of selected higher selling prices and cost savings in other areas of our operations, the firm said.
Gross profits for the three months rose to $6.6 million while sales grew 24 percent to $43.6 million. Earnings for the full year hit $25.3 million as sales grew 20.4 percent to $155 million on solid revenue growth in all of the firm´s businesses—Stevens Roofing and Geomembrane, Stevens Urethane and JPS Glass.