P&F Industries reports profits up, revenues down

P&F Industries, Inc. Monday announced that its profits were up for the first quarter of 2008 compared to the same period in the year earlier, but that revenues had dropped for the three-month period ended March 31, 2008.

The Melville-based company, which imports, manufactures, and sells pneumatic hand tools, reported revenue of $24.3 million in the first quarter of 2008, ending March 31, compared to $25.0 million for the same period in 2007.

The company reported net earnings of $362,000 for the quarter, compared to $126,000 reported for the same period a year earlier. Earnings per share grew from 3 cents to 10 cents. Read more