Flamemaster Profits Fall Even as Revenues Climb

Flamemaster Corp. saw its net income fall by 82% in the fourth quarter despite a 5% rise in revenues.

The Sun Valley-based chemicals concern posted net income of $15,156 for its fourth quarter that ended Sept. 30, compared with a profit of $83,811 in the same period a year earlier. Revenues in the latest quarter rose to $1.05 million, up from $994,449.

The company attributed its slide in earnings in part to an increase in its tax provisions.

For the full year, Flamemaster posted net income of $376,402, down 4% from its profit of $393,710 in 1996. Sales for the latest fiscal year rose 5% to $3.61 million, up from $3.45 million.