Transtechnology’s Earnings Decline 35% for Quarter
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Transtechnology said its earnings fell 35% to $1.6 million, or 31 cents a share, in the second quarter, which ended Sept. 30, from the year-earlier period. Revenue rose 15% to $52.8 million.
The Sherman Oaks aerospace company said its profit was hurt by substantial research, development and engineering costs.
For the six months, Transtechnology’s profit fell 48% to $2.7 million. Revenue rose 14% to $102.7 million.
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