Thiokol Corp. said net income increased 25 percent to $14.6 million for the second quarter ended Dec. 31, up from $11.7 million for the same period last year.
Earnings per share for the quarter were 72 cents compared with 61 cents for the prior year.Net sales for the three month period were $328.9 million, a 10 percent increase over the $299.5 million for the period last year.
Net income for the six months ended Dec. 31 increased 20 percent to $27.8 million or $1.38 per share, up from $23.2 million or $1.21 per share for the period a year earlier. Sales of $618.4 million for the six month period increased 4 percent from $592.1 million the previous year.
"We are very pleased with this quarter's results. Sales have remained strong and our continuing efforts to increase operating margins have been successful," said U. Edwin Garrison, president and chief executive.