Swedlow’s First Quarter Shows 38% Income Gain
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Swedlow Inc., a Garden Grove plastics manufacturer, posted a 38% boost in earnings and a 31% gain in revenues for the first quarter of its fiscal 1986. Net income rose to $354,000 from $257,000 in the same period a year ago, while revenues increased 31% to $13.5 million from $10.3 million a year ago.
Backlog at the end of the first quarter, which ended June 30, hit a record $45.9 million, compared with $37.5 million a year ago and $44 million at the end of fiscal 1985.
“We look forward to another excellent year based on the continued growth and our strong position in aircraft markets, along with the long-term opportunities in new areas such as the automotive market,” Chairman David Swedlow said in a statement.
At the annual meeting Thursday, shareholders reelected all incumbent directors.
Swedlow manufactures proprietary plastic products, primarily for military and commercial aircraft.
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