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National Presto: 2Q Appliance Profit up 58%
Aug 21, 2012
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National Presto Industries, Inc. reported that appliances sales were up 18.7% in the second quarter of 2012.

For the company as a whole, second quarter 2012 net sales were $117,114,000, up from $98,268,000 in 2Q 2011. Net earnings were $8,703,000, compared to $10,817,000 in 2Q 2011.

For the first half of 2012, sales were $213,887,000, compared to $207,154,000 in the first half of 2011. Earnings were $18,047,000, compared to $22,180,000.

National Presto Industries has three business segments:
* Housewares/Small Appliances, designing and selling small appliances under the Presto brand name
* Defense, manufacturing medium caliber training and tactical ammunition and other products
* Absorbent Products, making private label adult incontinence products

"Net sales increased over second quarter 2011 for both the Housewares/Small Appliance and Defense Segments. Housewares/Small Appliances increased by 18.7% due in part to heightened promotional activity and in part to differences in retail restocking timing," said Presto President Maryjo Cohen. "Operating profit increased in only one of the segments, Housewares/Small Appliances, by 58.1% and was primarily attributable to the improved sales."

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