Recent Spinoff Water Pik Posts Higher Quarterly Profits, Sales

Water Pik Technologies Inc., which was spun off late last year by Pittsburgh-based Allegheny Technologies Inc., posted higher profit and sales for the fourth quarter.

The Newport Beach-based provider of shower massagers, automatic toothbrushes and pool heating systems reported fourth-quarter net income of $4.3 million, or 45 cents a share, on a pro forma basis, up from $3.9 million, or 40 cents a share, a year earlier. Sales rose 6% to $78.2 million.

For the year, net income totaled $6.8 million, or 71 cents a share for 1999, on a pro forma basis, up from $6.6 million, or 67 cents a share, for 1998. Sales advanced 8% to $254.7 million.

Water Pik Technologies was spun off from Allegheny on Nov. 29.