AirBoss Of America Corp. reported first-quarter net sales of US$105.8-million, up from US$105.1-million in the same period last year, according to a May 6 filing. Net income swung to US$2.1-million from a US$408,000 loss.
Segment Performance
While net sales in the Rubber Solutions segment fell 5.7 per cent, the Manufactured Products segment advanced 16.5 per cent, driven by higher defence and moulded rubber product sales accompanied by higher margins.
Insider Buying Activity
From May 14 to June 23, Chairman and Co-CEO Peter Schoch purchased 37,000 shares in the public market at an average price of $7.21, according to insider filings compiled by INK Research.
Ted Dixon, CEO of INK Research, noted that insider buying can signal confidence. The company's shares may have already been featured in recent INK reports.
