Drewry Photocolor Posts Sharp 1st-Quarter Rise
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Drewry Photocolor’s profit soared in the company’s fiscal first quarter ended July 25, extending Drewry’s recent financial rebound.
The Burbank company, which processes film for retail clients, said net income jumped to $605,313, or $1.02 a share, from $40,748, or 7 cents a share, a year earlier. Sales rose 19%, from $7.2 million to $8.6 million.
The profit gain reflected lower costs and a “significant increase” in sales from existing retail customers, said Harold W. Ellis, Drewry’s vice president for finance.
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