TransTechnology Officials Link Higher Earnings to Helicopters
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TransTechnology said its earnings rose 14.4% in the second quarter ended Sept. 30 to $1.5 million, or 36 cents a share, although revenue fell 10.4% to $23.3 million.
The Sherman Oaks-based defense company attributed the earnings increase in part to higher profits from its Breeze-Eastern unit in Union, N.J., which makes helicopter accessories. The company said the drop in revenue came primarily because its Space Ordnance Systems division in the Santa Clarita Valley temporarily stopped making decoy flares because of its inability to dispose of explosive wastes.
For the first six months of its fiscal year, TransTechnology’s earnings fell 15.1% to $1.8 million, 44 cents a share. Revenue fell 9.6% to $42.8 million.
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