Greenville, South Carolina -- JPS Industries Inc. has reported increased revenues for the fourth quarter and twelve months ended 30 Oct 2010.
For the fourth quarter of the fiscal year 2010, JPS reported a net income of $0.5 million, on sales of $54.4 million compared with net loss of $1.9 million on sales of $35.9 million in the fourth quarter of 2009.
The company, who manufacture extruded urethanes and other materials for markets requiring highly engineered components, also reported net income of $3.2 million on sales of $186.7 million compared with net income of $0.6 million on sales of $191.3 million for the same period in fiscal 2009.
The results were announced in the company's fourth quarter report released 5 Jan 2011.
JPS ceo Michael Fulbright said in the report: "Our fourth quarter was a strong finish to the year and continued the significant improvements we delivered throughout 2010. Both Stevens Urethane and JPS Composite Materials business units delivered equally strong performances and improved consistently over the course of 2010."
He added that the company expects to face challenges in the coming year but should see further revenue growth. LMH