Cimco Inc., a Costa Mesa manufacturer of...

Cimco Inc., a Costa Mesa manufacturer of thermoplastic components and subassemblies, reported record sales and income for the fiscal year ended April 30. Net income rose 38%, to $2.7 million from nearly $2 million last fiscal year. The current year’s net income includes $344,000 due to an accounting change. Net sales climbed to $39.3 million, a 17% increase from last year’s $33.5 million. The company said this marked the fifth consecutive year of record-breaking growth for both sales and income. Net income for the fourth quarter increased 31%, to $761,669 from $582,993. Net sales increased 40%, to $12.2 million from $8.7 million. Russell T. Gilbert, president and chief executive officer, attributed the improved financial performance for the year to a successful redirection of marketing efforts resulting in an increase in new business, to continued strength in orders from existing customers, and to greater plant use and higher manufacturing efficiencies.