HCC Profits Increase 53% Despite Slump in Sales
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HCC Industries, an Encino-based manufacturer of electronic components, announced a 53% increase in profits despite a 2% decline in sales for the first quarter ended June 29.
Net income was $358,000, or 20 cents a share, compared with $234,000, or 12 cents a share, for the same quarter a year ago. Sales were $9.3 million, down from $9.5 million.
Company President Andrew Goldfarb said the results would have been better if not for depressed sales at an HCC unit that makes parts for the slumping computer industry.
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