Furon Reports Drop in Sales, Net Income

Furon Co., the Laguna Niguel manufacturer of industrial components, reported net income of $1.6 million, or 18 cents a share, for the second fiscal quarter, down 6% from the $1.7 million, or 20 cents a share, recorded for the like period last year.

Sales for the quarter ended July 31 declined 5%, to $70.2 million from $74.1 million. For the first half, net income was down 18% from the year-earlier period, to $3.3 million, or 38 cents a share, from $4 million, or 46 cents a share. Sales dropped 4%, to $147.4 million to $153.5 million. The company said the results were affected by slow economic growth in the United States and the recession in Europe.