Drewry Photocolor’s Profits Off Nearly 10%
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Drewry Photocolor’s profits fell nearly 10% to $114,951, or 20 cents a share, during its second fiscal quarter ended Oct. 26. Sales totaled $8.2 million, down 24% from last year’s corresponding period.
For the six months ended Oct. 26, profits dropped 46% from the same period in 1984 to $234,362, or 40 cents per share. Sales dipped 27% to $17.3 million.
Drewry, based in Burbank, is a wholesale photo-finishing company, processing film primarily for drugstore and supermarket customers.
Harold W. Ellis, vice president for finance, attributed the company’s weaker performance over the six-month period to price cutting and a loss of business to competitors.
But, he noted, the company was able to keep its earnings decline smaller than the decrease in sales during its second quarter.
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