National Presto Q1 Housewares Sales Down

First quarter sales at National Presto increased as growth in revenue from the company’s defense segment offset a decrease in sales in its housewares/small appliance segment.

For the quarter ended April 2, net sales were $72.9 million, up from net sales of $65.9 million in the comparable quarter the previous year.

Earnings from continuing operations were $9.9 million, up from earnings from continuing operations of $6.5 million in the same quarter in 2016.

Net earnings for the first quarter were $18.2 million, up from net earnings of $7.2 million in the same period the year earlier. Net earnings per share were $2.60.

Sales in the company’s housewares/small appliance segment were $20.1 million, down 6.3% from the previous year.

Company officials said the decrease stemmed from the struggling retail environment and changes to retail product assortments.