Rohr Industries Tuesday reported that net income...
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Rohr Industries Tuesday reported that net income fell to $7.6 million for the second quarter ended Jan. 31, down from $8.3 million a year ago. Revenue rose by 9% to $220 million for the second quarter ended Jan. 31.
Rohr’s net income for the six-month period ended Jan. 31 fell to $14.8 million from $17 million during the like period a year ago. Revenue for the six-month period rose by 35% to $422.6 million.
Rohr Chairman and Chief Executive Harry W. Todd blamed the net income drop on “the expansion of facilities, relocation of work within facilities, and introduction and assimilation of new programs.”
The Chula Vista-based company’s operating margins were also reduced by cost problems with the Grumman F-14 fighter program, the company said.
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