Chase Corporation (Bridgewater, MA), a global manufacturer of high-performance tapes, laminates, sealants, and coatings, reported a 20% reduction in 4th quarter revenues and a reduction of 26% in profits for the period.
Revenues fell from $35.7 million to $28.4 million, and profits fell to $2.8 million from $3.8 million in 4th quarter 2008.
For the year, Chase saw revenues of $107.6 million, a decrease of 19% compared to $132.5 million for 2008. Net income was $6.4 million, down from $12.4 million in 2008.
The fiscal year and Q4 2009 ended on August 31, 2009. Chase reported the figures on October 15, 2009.
Peter R. Chase, chairman and chief executive officer, said that 2009 was challenging particularly because it followed the company’s best year ever. He stated, “While we can’t help but be disappointed in the sales and earnings comparison to 2008, I am encouraged when we put it in the perspective of the current economic climate.”
For more information, visit www.chasecorp.com.