NEWMARKET, Canada (Aug. 12, 2010)—AirBoss of America Corp.'s sales and earnings rose significantly during the first half of 2010 principally because of improvement in rubber compounding and defense product sales.
Net income for the quarter ended June 30 jumped to almost $3 million from a loss of $581,000 in the 2009 period. Sales increased to $59.7 million from $46.8 million.
For the first six months, net earnings came in at about $5.8 million compared to a loss of $174,000 last year, on sales of $111.9 million, up from $97.9 million.
AirBoss' rubber compounding revenues increased 24 percent in the quarter as volumes in North America continued to rebound, the firm said. Sales of chemical, biological, radiological and nuclear protective wear remained strong and rose 10 percent from 2009.
AirBoss said sales of both rubber compounding, aided by a recovery in the North American tire market, and defense products are expected to continue to increase over the balance of 2010.