Husky turns slight profit in first quarter

Omnexus - Dec 6, 2002

BOLTON, ON, Dec. 6 -- Husky Injection Molding Systems released an improved sales and earnings report for the first quarter although it warned that overall market conditions remain soft. Sales for the quarter increased 39% to $149.2 million compared to $107.4 million last year. Net income improved substantially, from a loss of $17.8 million last year to a profit of $1.1 million. "This gives us great momentum as it represents the first time in four years that we have been profitable at the start of the fiscal year," said Robert Schad, Husky's president and chief executive officer. Husky said orders in the quarter were up 16%. Over the last 12 months to the end of October, orders have grown 24%, the...

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