Polyair has improved packaging sales, $0.9 M loss in second quarter 2006

Toronto, Ont.-based flexible packager Polyair Inter Pack Inc.’s packaging division improved its sales volumes and gross margin in the second quarter ending April 29, 2006, compared to the first quarter 2006, the company reported.
Despite this improvement, Polyair still reported a net loss from continuing operations of $0.9 million, or $0.14 per diluted share, on sales of $29.9 million for the second quarter. This compares with a new loss of $0.7 million, or $0.12 per diluted share, on sales of $28.1 million for the second quarter of 2005.
Polyair operates a total of nine manufacturing facilities, including an operation in Cobourg, Ont., and seven facilities in the U.S.