Bolt Technology Corp.’s fiscal first-quarter profit more than doubled on strong sales of the Norwalk firm’s underwater robots and seismic gear to offshore oil and gas drillers.
For three months ended Sept. 30, Bolt netted $1.7 million, or 20 cents a diluted share, up 137 percent from $720,000, or 8 cents a share, netted the same period a year earlier.
First-quarter sales jumped 49 percent to $14.3 million vs. $9.6 million a year ago.
Chairman and CEO Raymond M. Soto said all of its businesses contributed to profitability, but none more than its Seabotix undersea robot division that reversed its loss sustained in the first quarter of fiscal 2012.
