Net income up nearly 13 percent for Rotonics
GARDENA, Calif. – Rotonics Manufacturing Inc., which manufactures and markets plastic products for marine and other applications, reported its final results for the fiscal year ending June 30 today, saying its fiscal 2004 net income rose 12.8 percent from the year before.
The company’s audited net income was $1,304,200, or eleven cents per common share, on net sales of $40,332,900, compared to net income of $1,156,600, or nine cents per common share, on net sales of $35,972,100 for the same period in 2003.
Rotonics said the majority of its product groups reflected year-over-year improvements yielding an overall 12.1-percent increase in net sales.
“We believe some of the improvement was fueled by the $1,525,000 we expended on new equipment, tooling and improvements that added to and improved the quality of our product offerings and our overall productivity,” the company said in its release. “We maintain committed to similar capital expenditure projects in the ensuing year that, coupled with fiscal 2004 additions, should continue to stimulate future sales growth. We also remain optimistic that our marketplace will continue to strengthen and in turn will foster additional growth opportunities. “
The company said its increase in net sales played an important role in boosting fiscal 2004 net income and provided the needed base to mitigate the rising raw material, utility and insurance costs that continue to challenge its operations.
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