NEWMARKET, Ontario (Nov. 10) — Spurred by rubber compounding division production efficiencies, improved product mix and a lower effective tax rate, AirBoss of America Corp. recorded increased earnings and sales for both the three-month and nine-month periods ending Sept. 30.
The company had net income of 1.4 million for the quarter, a considerable improvement from the $1.5 million loss in the same period in 2005. Sales increased 2.7 percent to $49.3 million.
In the first nine months of 2006, income jumped to more than $5.7 million from $1.2 million last year while sales rose 2 percent to $158 million.
Sales were impacted by the higher Canadian dollar and timing of military protective wear orders, company officials said, but demand for products used in the energy generation and mining sectors continued to be robust and those are the markets AirBoss has focused on.
Strong third quarter performances of the firm's rubber compounding and railway products divisionsùdespite softening rubber industry demand, continued rising commodity prices and an uncertain U.S. economyùare the prime reasons AirBoss will continue to pursue those strategies, it said.