Special Devices Posts Increase in Sales, Profits

Special Devices Inc., a Newhall-based maker of air-bag devices for cars, posted a 5% rise in earnings for its fourth quarter on a 23% jump in sales.

In the fourth quarter that ended Oct. 31, Special Devices posted a $1.13-million profit compared to a profit of $1.08 million in the same period a year earlier. Sales in the latest quarter were $24.4 million, up from $19.8 million in last year’s fourth quarter.

For its full fiscal year, the company saw its profits jump 76% to $5.58 million, up from $3.17 million in 1994. Sales for the latest year rose 56% to $100.6 million, up from $64.5 million last year.

Special Devices said its profit growth slowed in the fourth quarter because of cutting its products’ prices. But the company said it signed a new deal to supply devices for air bags and, if all goes well, Special Devices expects to sell 17.5 million of the devices in 1996, compared with 13.5 million sold this year.