Morehouse Industries Inc.: The Fullerton-based industrial machinery...
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Morehouse Industries Inc.: The Fullerton-based industrial machinery manufacturer posted net earnings of $50,000 for the second fiscal quarter, contrasted with a loss of $136,000 for the year-ago quarter. Sales for the quarter ended Feb. 28 increased 5%, to $937,000 from $893,000. For the first half of the fiscal year, net income was $79,000, contrasted with a loss of $257,000 for the period last year. Sales were up 12%, to $1.9 million from $1.7 million. The company attributed the turnaround to restructuring and cutting fixed costs.
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