Acquisition Helps Boost Earnings for Calnetics

Calnetics Corp., a Chatsworth-based manufacturer of molded plastic parts for the building materials and agricultural irrigation industries, reported steep increases in profit and revenue for the fourth quarter and fiscal year that ended June 30.

The company reported net income of $377,000 for the fourth quarter, up 50% from $251,000 in the same three-month period a year earlier. Sales totaled $8.55 million in the fourth quarter, up 36% from $6.3 million a year earlier.

For the fiscal year, the company posted a profit of $1.01 million on sales of $29.2 million, compared to a year-earlier profit of $617,000 on sales of $18 million.

Clinton Gerlach, chief executive of Calnetics, said the increases in income and revenue largely stemmed from the company’s acquisition of Agricultural Products Inc. in April, 1994.