NET UP 75.6% AT PAXAR; SALES INCREASE 18.2%
WHITE PLAINS, N.Y. — Fueled by foreign sales, Paxar Corp., a maker of labels and bar-coding equipment for apparel, reported fourth-quarter earnings rose 75.6 percent to $6.54 million, or 23 cents a share, against $3.73 million, or 13 cents, a year earlier.
Sales in the three months ended Dec. 31 rose 18.2 percent to $57.58 million from $48.7 million.
Foreign sales grew 33 percent and accounted for 43 percent of fourth-quarter sales, up from 38 percent a year earlier. Domestic sales were up 9 percent.
Arthur Hershaft, chairman and chief executive officer, said that while last year’s weak U.S. retail environment can still be seen in year-to-year comparisons, Paxar “showed good top-line growth in the 1996 fourth quarter.”
For the year, profits rose 38.8 percent to $21.8 million, or 77 cents a share, from $15.7 million, or 56 cents. Sales rose 9.1 percent to $219.8 million from $201.4 million.