Paulin Posts Double-Digit Profit Growth
Paulin Posts Double-Digit Profit Growth
Jason Sandefur
H. Paulin & Co. reported strong earnings growth in 2005, with net profit growing 21% to $6.02 million on a 5.7% increase in sales to $150.2 million. Full year manufacturing revenue rose slightly to $59.3 million, while distribution sales improved 7.5% to $102.9 million.
Overall profit came from distribution, with segment income jumping 37.3% to $9.95 million. Paulin’s manufacturing division reported a loss of $648,000 compared with an 843,000 profit in 2004.
Capital expenditures dropped 33.6% to $2.4 million during 2005. Investment in manufacturing declined 32% to $1.97 million, while distribution investment dipped 39.2% to $466,000.
Profit remained robust in the fourth quarter of 2005, with net income gaining 24.5% to $1.13 million on a 1.9% improvement in sales to $34.4 million. Web: hpaulin.com �2006 FastenerNews.com
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