BUSINESS MEMOS: SPARTECH HAS INCREASED SALES

Spartech Corp. has announced increased sales and earnings for the third quarter, citing improved production efficiencies and its recent acquisition of Portage Industries as principal reasons for the record results.

Net earnings for the third quarter were $5 million, or $.20 per fully diluted share, a 31 percent increase from the $3.8 million, or $.16 per fully diluted share, reported for the same period last year. Sales rose by 11 percent to $101.2 million for the three months ended Aug. 3 from the $90.9 million reported in the comparable quarter of 1995.

For the first nine months, net earnings were $13.6 million, or $.55 per fully diluted share, a 25 percent increase from the $10.9 million, or $.45 per fully diluted share, reported for the first three quarters of 1995. Sales for the first nine months were $287 million, compared to $265.8 million for the same period in 1995.