Quarterly Profits Rocketed Up 59% at Fluorocarbon

Fluorocarbon reported a 59% increase in its fiscal 1988 second-quarter net profit, to $1.32 million from the year-earlier $829,000.

Sales for the three months ended July 31 rose 81% to $44 million, from $24.3 million in the year-earlier second quarter of the Laguna Niguel plastics company.

For the first half of its current fiscal year, Fluorocarbon posted net income of $2.6 million, a 53% increase from the year-earlier $1.7 million. Sales increased 43% to $71.4 million from $49.7 million.

Company officials said the jump in earnings came entirely from improved profits at Fluorocarbon’s core businesses. The revenue increase, however, came largely from sales of its Samuel Moore Group, the industrial polymer unit acquired from Eaton Corp. on May 29.