Employees get a cut of company’s profits - Trade Only Today

Employees get a cut of company’s profits

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Defender Industries of Waterford, Conn., says it rewarded its staff with a share of profits earned in 2009.

Eligible employees at Defender received the equivalent of a week's pay on average. The family-owned marine outfitter saw sales growth of more than 10 percent in the last year and this is the fourth consecutive year Defender has been able to share its success with staff, according to the company.

"Defender's success-sharing program rewards our employees proportionately for their individual and collective contributions to our success," said vice president and co-owner Stephan Lance.

This was the eighth consecutive year of significant growth and the sixth year in a row of record sales for 71-year-old Defender, said Lance.

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