Wynn’s International Inc.: The automotive-products maker reported...
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Wynn’s International Inc.: The automotive-products maker reported a profit of $8.9 million for 1993, up 23% from $7.2 million. Revenue for the year of $284.9 million was down 2%.
Wynn’s profits, equal to $1.62 a share, were boosted by the performance of the company’s automotive sealing products and automotive chemicals. The Orange-based company’s auto air-conditioning unit, hit by the recession, posted declines in revenue and earnings.
For the fourth quarter, the 55-year-old company reported a $2.2-million profit, up from $2 million in the final period of 1992. Revenue of $69.9 million was up 4%. The per-share basis of the company’s earnings, adjusted for a 3-for-2 stock split in September, was 37 cents.
James Carroll, Wynn’s president and chief executive, said he expects continued improvement in the auto industry and the worldwide economy this year and projected annual earnings growth of 10% to 20%.
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