Flamemaster Profits Rise Despite Drop in Revenue
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Flamemaster Corp. said its fiscal first-quarter profit rose 19% from a year earlier despite an 8% decline in revenue.
The Sun Valley maker of sealants and coatings said net income in the quarter that ended Dec. 31 climbed to $29,635 from $24,863 a year earlier. Its revenue fell to $965,867 from $1.05 million.
Earlier this month, Flamemaster sold 23% of its stock to Products Research & Chemical, a Glendale producer of sealants and other specialty chemicals, as part of a cross-marketing agreement between the companies.
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