Aug 25, 2022
Improved Margin Helps AEP Earnings
Atlas Engineered Products (AEP) had revenue of $16.8 million for the second quarter of 2022, an increase of 17 per cent compared to revenue of $14.4 million in the second quarter of 2021. Earnings before taxes for the quarter were $3.6 million, up from $2.8 million in the year-ago quarter. Earnings margin was 21 per cent compared to 20 per cent. The rise in earnings was attributed to the increase in net income resulting from increased sales and improved gross margins. Gross margin for the second quarter was 28 per cent compared to 26 per cent a year ago. Net income after taxes was $2 million compared to $1.6 million.
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