Legal costs take a big chunk of Westerbeke income
Article Abstract:
Westerbeke Corp, a Avon, MA-based manufacturer of marine engines and air- conditioning products, has increased net sales to $8.9 million for the quarter ended Jul 22, 2000, compared with the $7.6 million in the 1999 quarter. However, the company's net income dropped to $131,3000 from $319,100 in the 1999 quarter. The company attributed this to its rising legal expenses related to proceedings against one of its suppliers.
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 2000
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Legal costs squeeze Westerbeke income
Article Abstract:
Avon, MA-based Westerbeke Corp posted a net income drop of 71% for the fiscal year that ended Oct 21, 2000. The decline is blamed primarily on costs related to legal proceedings against one of its suppliers. The manufacturer of marine engines and air conditioning products reported net sales of $34.5 million, in comparison with $29.1 million in FY1999. Its net income dropped to $228,300 from $796,000 in FY1999.
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
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