Aerospace contractor Hi-Shear Technology Corp. said Wednesday that profit in its fiscal second quarter rose 22 percent on higher revenues and lower operating costs.
Torrance-based Hi-Shear reported after the market closed net income of $1.84 million (27 cents per share) for the quarter ended Nov. 30, compared with net income of $1.33 million (19 cents) a year ago. Revenues rose 7.6 percent to $7.07 million.
Hi-Shear makes pyrotechnic, mechanical, and electronic products such as electric separation mechanisms used in space satellites and launch vehicles for NASA, the Department of Defense and other government programs.
Hi-Shear shares were unchanged at $9.20 Wednesday on the NYSE Alternext exchange.
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