NEWMARKET, Ontario (Aug. 13, 2008) — Strong sales of protective wear and military vehicle rubber repair products increased AirBoss of America Corp.'s earnings two-fold in the second quarter.
Net income jumped to $2.57 million from $815,790 in the second period of 2007 on a 16-percent rise in sales to $64.8 million. Earnings for six months came in at $3.48 million, up from $1.9 million, and sales shot up to $120.2 million from $111.9 million in 2007.
Revenues during the six-month period for the company's Defense Division improved by 70 percent to 17.9 million with sales of chemical, biological, radiological and nuclear protective wear accounting for most of the improvement, the company said. Those results were augmented by sales of military vehicle rubber goods while the firm's rubber compounding operation also showed a volume increase in an unsettled market.
Mining and defense also had sales increases, which offset weaknesses in AirBoss' automotive and distribution units.
AirBoss said it expects its results to remain strong for the rest of the year.