OroAmerica’s 3rd-Quarter Income Nearly Doubles
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OroAmerica Inc., a Burbank jewelry maker, said its fiscal third-quarter net income nearly doubled on a 22% revenue gain.
The company’s profit for the three months that ended Oct. 29 rose to $2.5 million from $1.3 million a year earlier. Net income included a one-time charge of $564,000 related to early retirement of debt.
OroAmerica’s third-quarter sales climbed to $62 million from $51 million a year ago.
The company said its net income for the nine months also nearly doubled to $6.9 million from $3.6 million. Sales rose 22%, to $141 million from $116 million.
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