Rohr Industries Profit Off Sharply in Quarter
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Strike-bound Rohr Industries reported that net earnings fell to $8.3 million for the first half ended Feb. 1, compared to $12 million a year ago. Revenue for the first half rose to $312 million from $306 million.
The company linked the earnings drop to “inefficiencies associated with new program start-ups, increased production rates for existing programs and the need to train new employees to handle increased productions.”
For the record:
12:00 a.m. Feb. 26, 1987 FOR THE RECORD
Los Angeles Times Thursday February 26, 1987 Home Edition Business Part 4 Page 2 Column 3 Financial Desk 2 inches; 42 words Type of Material: Correction
Rohr Industries’ earnings and revenue were reported incorrectly in Wednesday editions. The Chula Vista-based company reported $8.3 million in net income and $154.3 million in revenue for the second quarter ended Feb. 1 and $17 million in net income and $312 million in revenue for the first half.
Rohr Chairman Harry W. Todd said the Chula Vista, Calif.-based company anticipates a “speedy and equitable conclusion” to a Feb. 16 strike by 4,600 union members at its plants in Riverside and Chula Vista.
Rohr’s lower margins are the result of spending dictated by a “long-term strategy to keep the company competitive well into the future,” Todd said.
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