Wynn’s International Inc.
The Orange supplier of O-rings, sealing products, specialty chemical products and builders hardware supplies, reported that net income fell 9.3% to $5.9 million, or 31 cents a share, for the fourth quarter, from $6.5 million, or 35 cents a share, a year ago. Sales rose 3% to $87.9 million.
Fourth-quarter results were hurt by weak sales in Europe, especially in December, and higher-than-expected production costs for certain new products that the company released recently, Wynn’s said.
For the full year, net income totaled a record $27.8 million, or $1.46 a share, up 2% from $27.3 million, or $1.39 a share. Sales rose 7% to a record $360.3 million.
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