Variflex Reports Quarterly Net Income of $318,000

Variflex Inc. in Moorpark, a provider of recreational products, reported net income of $318,000 or 6 cents per share on sales of $10.4 million for the third quarter, which ended April 30.

This compares with net income of $20,000, with no per-share gain, on sales of $10.5 million for the same three months a year earlier.

Variflex experienced an increase in sales of its Quik Shade portable canopies in the quarter, and the company is beginning to ship a “springless” trampoline, Chief Executive Jay Losi said.

Variflex is a wholesaler and distributor of in-line skates, skateboards, recreational safety helmets, athletic protective equipment and yo-yos. The company designs and develops these products, which are manufactured by independent contractors.