Maax almost doubles income for the quarter

Sales growth and operating efficiencies have led to a sixth consecutive quarter of improving profit margins for bathware manufacturer Maax Inc. Comparable net income for the third quarter (ended Nov. 30, 2002) rose 79.9% from the same quarter last year, to $9.8 million.
The comparable net maragin for the quarter was 6.4% versus 4.3% a year earlier.
During the third quarter the bathroom and kitchen segment showed a distinct improvement in operating, marketing and administrative efficiency to achieve income of $15.8 million. The spa segment reduced its losses to $0.9 million.