US 1 Industries reports lower 2Q net income, revenues

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US 1 Industries Inc. announced Tuesday, Aug. 12, the results for its second quarter and six months ended June 30. Revenues for the second quarter of 2008 decreased 6.3 percent to $44.9 million compared to $47.9 million for the same period in 2007. The company’s net income was $813,458 in the second quarter of 2008 compared to $1,114,376 for the same period in 2007.

For the six months ended June 30, revenues decreased 7.6 percent to $86.7 million compared with $93.8 million for the same period in 2007. For the six months ended June 30, the Valparaiso, Ind.-based company’s net income increased to $1,503,188 compared to net income of $1,485,122 for the same period in 2007.