WESTWOOD, MA -- Chase today reported fiscal fourth quarter revenue increased 2% to $68.99 million, compared to $61.46 million in last year’s fourth quarter.
Net income rose 5% from last year’s fourth quarter to $11.41 million.
For the year ended Aug. 31, revenue rose 6% to $252.6 million from the prior fiscal year. Net income increased 28% to $42.01 million.
President and CEO Andrew Chase said: "Royalty income was particularly strong during the year, as a robust Asian appliance market and the ever-increasing Internet of Things (IoT) expanded the demand for electronic and industrial coatings. Favorable trends in automotive (including electric vehicles), home appliances, communications and server cable manufacturing all led to our Industrial Materials segment’s positive results in the fourth quarter, and boosted results for our HumiSeal conformal coatings."
Chase is the parent company of Humiseal.