Bell Industries Inc. reported a decrease in sales for the company’s second quarter, ended June 30.
The El Segundo, Calif.-based firm, which supplies aftermarket products to the RV and marine industries through its Recreational Products Group in Eagan, Minn., posted second-quarter net income of $5.2 million versus $948,000 a year ago. Earnings included a pre-tax gain on the sale of the company’s J.W. Miller magnetics division of $6.1 million, or $5.2 million net of tax.
Sales during the three-month period were $31.2 million compared with $35.3 million last year.
The Recreational Products Group’s revenues for the quarter were boosted by strong marine sales and improved to $14.5 million from $13.9 million in the year-ago period. Operating income increased to $922,000 from $834,000 a year earlier.
For the first half of 2006, sales were $56.1 million compared with $62.1 million a year ago. Including the sale of its J.W. Miller division, net income rose to $3.9 millon from $271,000 for the six-month period.