STOCKS: Chicago Rivet Q1 Profit Jumps 84%
June 12
00:00
2002
STOCKS: Chicago Rivet Q1 Profit Jumps 84%
John Wolz
Chicago Rivet & Machine Co. reported first quarter 2002 net income jumped 84% from the same period last year. Income totaled $625,116 despite sales edging down 1.7% to $10.5 million.
Chicago Rivet�s 2001 full-year sales totaled $40.4 million, compared with $45.4 million for the previous year.\
Profits slid from $2.7 million for 2000 to $1.8 million for 2001. Fourth quarter sales dropped from $10.3 million in 2000 to $9.2 million for 2001. Net income for the final quarter of 2001 was $288,595, compared with $565,400 for the same period of 2000.
Correction: Former Textron Inc. executive Herbert Henkel was elected to the C.R. Bard Inc. board, not the Textron board. �2002 FastenerNews.com
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