Johnson Products Co. Inc. said Monday that increased sales and profits for the fiscal third quarter and nine months ended May 31 marks a new period of growth for the company.
In the quarter, net income was $400,000, or 10 cents a share, including a tax credit of $184,000, in contrast to a $468,000 net loss in the year-earlier period.
For the nine months, net income was $541,000, or 13 cents a share, including a $104,000 gain from discontinued operations and a $201,000 tax credit.
A year earlier, the company had a net loss of $2.2 million.
Sales from continuing operations increased 24 percent in the quarter, to $8.4 million from $6.8 million a year earlier.
For the nine months, sales rose 5 percent, to $22.3 million from $21.3 million.
President George E. Johnson said the increases in sales and profits signal an end to the company`s ”no-growth period.”
Johnson Products primarily markets hair and beauty aid products for the professional and retail markets.
