GELSENKIRCHEN, Germany—Masterflex S.E., maker of high-tech polyurethane and plastic hose, said its sales jumped 3.7 percent in 2012 to $71 million.
The German manufacturer reported a 12.8 percent increase in net profits to $4.4 million, although operating earnings advanced only 1.3 percent to $7.6 million, with an operating margin of 13.7 percent. The Gelsenkirchen-based company attributed the relatively flat operating profits to "initial costs of internationalization."
Masterflex CEO Andreas Bastin said the company will work this year to continue to show customers the potential offered by its high-tech hoses.