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Net income dips at Mark IV, sales increase 8 percent.
Rubber & Plastics News II, July, 1998
In the midst of a restructuring program, Mark IV Industries Inc. reported a dip in net income for the quarter, despite a boost in sales.
Of companies deriving less than half their sales from rubber products, CTI Industries Corp.'s earnings fell for the three-month period but rose for the first half; Newcor Inc.'s second-quarter and sixth-month sales were up while net income fell; and Plymouth Rubber Co. Inc. had earnings increases in the half and quarter while sales jumped in the first period but remained about the same for the half.
* Mark IV's net earnings, before an extraordinary charge of $2.6 million, fell 11 percent for the first quarter ended May 31 to $26.9 million on an 8 percent sales increase to $604.5 million.
The operating...
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