Coltec announces improved sales and earnings

• Publisher: Elsevier Science
• Year: 1998
• Tongue: English
• Weight: 177 KB
• Volume: 1998
• Category: Article
• ISSN: 1350-4789
• DOI: 10.1016/s1350-4789(98)90111-8

✦ Synopsis

Increased profits for Wynn•s Precision

~nn's-Precision has reported a 13% increase in revenues, and a 19% increase in operating profit for the first quarter, ended 31 March 1998.

Wynn's-Precision, a key supplier of sealing products for automobiles and other equipment, is a division ofWynn's International. Fuelled by the continued strength in the US automotive and industrial sectors, all major units of Wynn's Precision reported improved results, Overall, Wynn's International reported net income of US$7.5 million for the first quarter, an increase of 19% over the previous year, and a new quarterly high. Net sales for the quarter were also a record high, up 10% to US$85.8 million. The pretax return on sales for the most recent quarter reached 13,9%, compared with 12,9%, a year earlier.