LV firm’s sales fall

Thursday, Aug. 9, 2001 | 11:23 a.m.

American Pacific Corp., a Las Vegas-based chemical manufacturing firm, reported net income of $1.94 million for the quarter ending June 30, a 5 percent increase over the year-ago period. The company earned 28 cents per share, up 2 cents from the year-ago quarter.

The increase, however, came as the result of $1 million in one-time charges reported in the year-ago quarter. When those charges are excluded, American Pacific's net income fell 31 percent, and earnings per share were down 30 percent. Revenues declined 9 percent to $15.4 million, while cash flow fell 5 percent to $6 million.

The declines came as the result of reduced demand for certain American Pacific products, particularly ammonium perchlorate, a chemical used in rocket boosters. American Pacific said there's been lower demand for perchlorate used in booster rockets used to launch telecommunications satellites, and demand for perchlorate for use in the space shuttle's solid rocket boosters is down because of excess inventory levels.

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