LINCOLN – Personal and business accessories maker A.T. Cross Co. profit increased to $1.92 million in the third quarter from $1.63 million a year earlier.
Earnings per diluted share were 15 cents for the three months ended Oct. 1, up from 13 cents in third quarter 2010.
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Sales increased 14.8 percent to $43.81 million. Operating income increased in its Cross Accessory, $748,000, and Cross Optical, $2.26 million, divisions; a year earlier, the segment breakdown stood at $248,000 and $1.99 million, respectively.
For the nine-month period, A.T. Cross saw it s sales increase to $131.36 million from $114.28 million. Net profit was $6.33 million, or 49 cents per diluted share, compared to $4.52 million, or 34 cents per diluted share.
By segment, Cross Accessory lessened its operating income loss, but was still in the red, at $122,000 for the period, compared to a $952,000 loss in the first nine months of 2010. Cross Optical increased its operating income profit to $10.02 million in the first nine months of the year from $7.64 million a year earlier.
