Armor All Products, Irvine, reported that net...
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Armor All Products, Irvine, reported that net income rose 3% to $5.7 million for the third quarter ended Dec. 31, compared to $5.5 million a year ago. Revenues were $32.1 million, down 3% from the $33 million posted in the third quarter last year. For the nine-month period, net income was up 13%, to $13.8 million from $12.2 million. Revenues were up 2%, to $79.4 million from $77.5 million. When Armor All introduced four new car-care products in August, Jeffrey Sherman, president and chief executive officer, announced a change in the company’s promotional strategy that shifted shipments of the company’s products from the third to the fourth fiscal quarter.
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