TransTechnology Profit Up 16% in 2nd Quarter

TransTechnology reported its earnings rose 16% to $2.4 million, or 44 cents a share, in the second quarter, which ended Sept. 30, although revenue dropped 8%, to $46.1 million.

The Sherman Oaks aerospace firm, which has been posting higher profit since it acquired Glen Head, N.Y.-based Lundy Electronics last year, reported a 56% increase in earnings for the previous six months, to $4 million, or 75 cents a share, despite a 2% drop in revenue, to $90 million.