Chicago Pacific Corp. said its second-quarter earnings rose 24.6 percent from a year earlier despite taking charges of $3.8 million.
The Chicago-based manufacturer had earnings of $4.1 million, or 42 cents a share, up from $3.3 million, or 41 cents a share, a year earlier on fewer shares outstanding.
Sales rose 72.7 percent, to $318 million from $184.1 million.
The charges stemmed from paying a premium on the repurchase of certain subordinated notes and the reversal of tax-loss carryforwards.
The year-earlier results don`t include the company`s Rowenta appliance operations or its furniture companies, which were acquired in the second half of 1986.
For the first six months, earnings fell 2.5 percent, to $11.5 million, or $1.18 a share, from $11.8 million, or $1.47 a share, a year earlier. The most recent period included a $4.1 million charge, and the year-earlier period had a $3.3 million gain from tax-loss carryforwards.
First-half sales rose 75.6 percent, to $633.5 million from $360.7 million.
