Flamemaster Net Income Up 4% for Fiscal Year
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Flamemaster Corp. said its net income for the fiscal year ended Sept. 30 grew 4% to $896,746 from $865,017 a year earlier on a 2% decrease in revenues, to $5.14 million from $5.26 million.
The Sun Valley maker of coatings and sealants said that for the three months ended Sept. 30, profits rose 39% to $336,872 from $242,347 a year earlier. Revenues grew 18% to $1.4 million from $1.2 million.
Flamemaster President Joseph Mazin attributed the higher earnings to improved sales of its flame-retardant coatings, which have higher profit margins than the company’s other products, such as sealants for aircraft.
Flamemaster also said it has received notice that its Flamemaster V Fire Stop System, designed to isolate fires that might erupt from industrial motors, has been approved for a patent to be issued in early 1992.
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