Shares in Hi-Shear Technology Corp. soared more than 13 percent Wednesday after the company announced strong profits on increased sales.

Hi-Shear reported second quarter net income of $905,000 (13 cents per share), a 39-percent increase from $650,000 (10 cents) for the same period a year earlier.

Revenue for the Torrance-based defense contractor rose 4 percent to $4.9 million, mainly due to accelerated demand and reduced production delays, the company said.

Hi-Shear provides pyrotechnic, mechanical, and electronic products to the aerospace and defense market, mainly in satellites. Shares in the company rose $1.25 to $10.50 in midday trading.