Special Devices Posts $858,000 Quarterly Profit
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Paced by brisk sales in automotive products, Special Devices Inc. reported that its earnings more than doubled for the quarter that ended July 31.
The Newhall-based company, which makes pyrotechnic devices used in the defense and automotive industries, reported a profit of $858,000 for the quarter, compared to a $376,000 profit in the same quarter a year earlier. Sales in the latest quarter were $17.1 million, up 81% from sales of $9.45 million in the July quarter of 1993.
For its nine-month period, the company reported net income of $2.09 million on revenue of $44.7 million, compared to net income of $670,000 on sales of $24.6 million the year earlier.
The company’s automotive products division, which makes devices that activate automobile air bag restraint systems, posted sales of $13.6 million in the latest quarter, about twice the $6.53 million in sales reported for the same three-month period a year ago.
Meanwhile, sales in the company’s aerospace division jumped 22% to $3.56 million from $2.92 million a year earlier.
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