Farmington aerospace-industrial parts maker Edac Technologies Corp. saw profits nearly triple in the second quarter on record sales.
The glowing financial report sent Edac’s stock skyward.
Edac earned $977,000, or 19 cents a share, in the three months ended June 30, up from $345,000, or 7 cents a share, the same period a year ago. It was double the first-quarter net of $408,000.
Second-quarter revenues were a record $21.9 million, up 16 percent from $18.8 million a year earlier.
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Edac said higher gross margins in all three of its major product lines, plus the right product mix and more cost-effective production, contributed to the strong quarter.
At late morning, Edac shares were up 86 cents, or 17 percent, at $6.26.
