Material Sciences Corp. reported fiscal second-quarter earnings of $1.7 million, or 11 cents per share, down 60 percent from $4.2 million, or 27 cents per share, a year earlier.
The Elk Grove Village-based maker of specialty-coated materials said revenues for the quarter, which ended Aug. 31, were $70.5 million, virtually unchanged from $70.4 million a year earlier.
Material Sciences also said it has hired Stern Stewart & Co. to help it increase the value of the company and warned its earnings for the fiscal year would be below the previous year’s.
For the first half of fiscal 1998, Material Sciences said that net income dropped 48 percent, to $4.3 million, or 28 cents per share, from $8.2 million, or 53 cents per share, a year earlier.
First-half sales rose 3 percent, to $143.6 million from $139
million.
