Burnham Holdings on Thursday reported a profitable second quarter, reversing a net loss in 2018’s second quarter.
Lancaster-based Burnham had a net profit of $563,000 (12 cents a share), compared to a net loss of $137,000 (3 cents a share) in the 2018 quarter.
Sales grew 6.0% to $41.9 million, with sales of residential products up 4.6% and sales of commercial products rising 8.9%.
Helping the bottom line were the higher sales as well as lower cost of goods sold as a percent of sales and lower selling, general and administrative expense as a percent of sales.
Coupled with a strong first quarter, net profits for the first half of 2019 were the best first-half results in 15 years, said Burnham, a maker of boilers, furnaces, radiators and other products.
Burnham also announced the addition of E. Philip Wenger to its board of directors. Wenger is chairman, president and CEO of Fulton Financial.