OroAmerica Inc.’s Earnings Rise in Third Quarter
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OroAmerica Inc., a Burbank supplier of gold jewelry, reported that its fiscal third-quarter earnings rose by half over a year earlier.
In the three months ended Oct. 28, OroAmerica had a profit of $2.21 million, up 51% from its $1.47 million in earnings in the same quarter last year. Its net sales inched up 4%, to $64.6 million, from $62.2 million.
The company’s results for the third quarter a year ago included a $564,000 one-time charge from the early payment of debt.
For the nine months ended Oct. 28, the company’s net income fell 38%, to $2.98 million from $4.79 million. Net sales were $151.6 million, up 8% from $141 million.
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