Coin Retailer Cuts Loss for 2nd Period
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American Pacific Mint Inc., a Woodland Hills coin retailer, reported a $40,297 loss for the second quarter, compared with a $512,654 loss a year earlier.
The improvement came on a surge in American Pacific’s sales, to $10.9 million from $2.65 million a year ago. For the first half of 1990, the company lost $85,528 compared with a $624,650 loss a year earlier, and its six-month sales rose to $25.3 million from $6.63 million.
Meanwhile, American Pacific also said its board authorized the company to buy back up to 300,000 of its common shares of stock. The buyback would occur in periodic repurchases in the open market. American Pacific has about 5.4 million total shares outstanding.
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