P&F Industries net income, revenues jump

Tool manufacturer P&F Industries Inc. (Nasdaq: PFIN) Thursday said fourth quarter net income rose 20.1 percent to $573,000 on a 19.4 percent jump in revenues to $20.4 million.

The firm attributed the robust results to strong performance by its Florida Pneumatic unit, whose sales shot up 20.5 percent to $11.5 million due largely to successful fall promotions.

Countrywide Hardware also performed well, with sales up 202 percent to $3.4 million, largely due to an acquisition.

P&F manufactures and imports air-powered tools, hydraulic cylinders, heating products, and residential and commercial hardware.

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