Belcor Inc. Reports Earnings, Revenue Up
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Belcor Inc., an Irvine diversified holding company, reported fiscal 1986 net earnings of $833,388, compared with a loss of $1.7 million the prior year. Revenues for the year ended Oct. 31 were $9.5 million, about 10 times higher than the $943,149 recorded in fiscal 1985. The full-year profits include extraordinary gains of $516,000 from the company’s accumulation of previous tax loss credits.
Belcor reported fourth-quarter profits of $658,000, a sharp improvement from the $1.6 million loss a year earlier. Revenues for the period were $3.3 million, substantially higher than the $194,000 the company posted the year before.
In the past year, Belcor has transformed itself from an oil and gas exploration company to a holding company for a diversified group of manufacturing operations. The company was formerly named Transierra Exploration Corp.
Belcor now owns AL Industries, a Santa Ana metal fabrication plant, and a Chicago company that makes polyethylene bags.
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