NEWMARKET, Ontario—AirBoss of America Corp.'s net income and sales increased in the third quarter as the company continued to show improvement in virtually all parts of its business.
Net earnings jumped to $3.8 million from $2 million in last year's third period. Sales in the quarter rose more than 42 percent to percent to $74.2 million.
For the first nine months of 2014, AirBoss' net income increased to $10.1 million from $7.1 in 2013. Sales for the period rose almost 36 percent to $225.1 million.
The company's top officials, CEO and Chairman P.G. Schoch and President Timothy Toppens, credited continued improvements in the company's rubber compounding, automotive and engineered products operations for the gains.
AirBoss' rubber compounding volumes increased 13 percent over those in the like quarter of 2013, even though there continued to be weakness in some traditional markets, primarily conveyor belts and off-the-road tire retreading.
Its automotive business, AirBoss Flexible Products, continued to benefit from a strong U.S. auto manufacturing segment. The firm expects that to continue through the remainder of 2014.
Its engineered products business is still experiencing softness in the defense end of its operation, although it recently received a $15 million order for CBRN protective over boots from the U.S. Department of Defense.