Calnetics Reports 50% Gain in Earnings

Calnetics Corp., a Chatsworth maker of plastic components, reported strong gains in earnings for its fiscal second quarter and six months ended Dec. 31.

The company attributed the profit growth to improvement at its three subsidiaries and more favorable resin prices.

Calnetics’ second-quarter net income was $271,000, up 50% from $181,000 in earnings a year earlier. Its sales for the quarter rose 22%, to $7.63 million from $6.27 million.

For the six months, the company’s profit jumped 62%, to $567,000 from $350,000 in the comparable period a year before. Its sales were $16.3 million, up 27% from $12.9 million.