Weekly television digest (Jan-Dec 1963)

12— TELEVISION DIGEST JANUARY 14, 1963 Financial Reports of TV-Electronics Companies These are latest reports as obtained during the last week. Dash indicates the information was not available at press time. Parentheses denote loss. Company Period Sales Pre-Tax Earnings Net Earnings Per Common Share Common Shares Disney Productions 1962 — year to Sept. 29 $ 74,059,197* $ 10,913,491 $ 5,263,491’ $3.14 1,674,804 1961 — year to Sept. 30 70,247,772 9,787,486 4,465,486 2.75 1,626,023 General Instrument 1962 — 9 mo. to Nov. 30 63,213,152 385,123 .15 2,570,401 1961 — 9 mo. to Nov. 30 64,806,558 958,726 .38 2,482,973 1962 — qtr. to Nov. 30 22,019,021 29,814 .01 2,570,401 1961 — qtr. to Nov. 30 23,534,666 183,167 .07 2,482,973 Hewlett Packard 1962 — year to Oct. 31 109,167,354 6,685,471 .62“ 10,800,557 Story below 1961 — year to Oct. 31“ 87,266,934 5,657,144 .53“ 10,660,698 A. C. Nielsen 1962 — qtr. to Nov. 30 675,329 .39 1,710,000 1961 — qtr. to Nov. 30 — 657,830 .38 1,710,000 Seeburg 1962 — year to Oct. 1 51,051,415 1,696,310* .89* 1,900,554 1961 — year to Oct. 1 35,277,000 1,051,145* .55= 1,916,313 Notes: 'Record. ’Adjusted to include Harrison Labs, acquired Dec. special tax credit for losses in previous years. “Includes $460,000 1961. ’ After preferred dividends. * Includes $160,000 (8^ a share) (24(f) special tax credit. Magnavox's Record 1 962; Magnavox’s 1962 sales climbed A3V2% to record $202 million from 1961’s $140.8 million. It was company’s 5th consecutive record-setting year & Pres. Frank Freimann forecast new high levels of sales & earnings for 1968. Profit figures for 1962 aren’t yet available, he said, but gain in profit was about in line with sales. In Oct. (Vol. 2:44 plO) he said profit was expected to jump 40% from 1961’s record $9 million. ■ “Diversification at ABC-Paramount’’ is explored by Jan. 9 Financial World, w'hich noted “many-faceted” company’s broadcasting, theatre, publishing & electronics interests — 12% stock interest in Microwave Associates, 19% interest in Technical Operations, loan to Visual Electronics “which carries the right to purchase a sizable stock interest.” In 1961, ABC contributed 70% of gross income, World said, theatres chipped in 23%, merchandise sales & other income made up balance of 7%. “With the sole exception of the theatre division,” magazine said, all .AB-PT divisions in 1962 bettered their 1961 performances. “As a result, the corporation’s eaimings are believed to have ri.sen to around the $2.50 per share level from $2.26 reported for 1961.” International Rectifier sales in fiscal 1963 ending June 30 should climb to $20 million from $17.9 million in fiscal 1962, reported Pres. Eidc Lidow. Earnings are expected to top year-earlier’s $1.2 million. CuiTent backlog is $5.5 million— up from $4.5 million a year earlier. In 2nd fiscal quarter ending Dec. 31, company foresees sales increasing to more than $4.5 million from $4.2 million, earnings approximating 1961’s Oct.-Dec. profit of $216,000. Lidow said extent of International Rectifier’s fiscal-1963 profit increase hinges largely on new drug operation. “In next 2 or 3 months,” he said, company expects to quadruple output of antibiotics. Mergers & acquisitions: Oak Mfg. has purchased for undisclosed cash Marco Industries, Anaheim, Cal. maker of indicator lights and switches • Sprague Electric has absorbed subsidiary Vec-Trol Engineering. GT&E’s profit from manufacturing operations in 1962 rose some 13% from 1961 to about $28 million, Sylvania Electric Products Pres. Gene K. Beare reported. GT&E previously estimated total 1962 sales at record $1.3 billion & peak pi’ofits of $85 million (Vol. 3:1 plO). Continued improvement in 1963 sales & profits is anticipated, Beare said, adding: “After a relatively brief period of adjustment in certain aspects of our manufacturing operations, particularly in several areas of electronics that have undergone very rapid technological change, the operations of GT&E have resumed their strong upward trend.” Hewlett-Packard scored sizable sales & profit gains in 1962 fiscal year ended Oct. 31 (see financial table) & expects earnings & volume in fiscal-1963’s first half to be “substantially better” than in 6 months ended last April 30. Financial vp W. F. Cavier noted, however, that incoming orders are “off more than usual” for this time of year, “enough so that we’re concerned about it but not worried.” New products planned for 1963 include a frequency synthesizer, pulse generator, oscilloscope. Synthesizer, which produces frequencies via pushbutton panel, is expected to hypo sales in fiscal-1963, “but more so in 1964,” Cavier said. Muntz TV’s net worth at close of fiscal-1963’s first quarter Nov. 30 (Vol. 2:53 pll) increased “by over $4 million” in 5-year period since Nov. 30, 1957, Pres. Walter A. Keil reported to stockholders. Net worth totaled $2,561,846, after a retained-eamings deficit of $1,598,530. Five years earlier, net worth was a minus $1,679,240, after retained-eamings deficit of $4,502,424. Muntz TV’s current assets (Nov. 30, 1962) totaled $3,307,719, including $186,082 cash & $995,653 net accounts receivable. Current liabilities were listed at $997,709. Common Stock Dividends Corporation Period Amt. Payable Stk. of Record A. C. Nielsen Q $0.15 Feb. 1 Jan. 14 Ford Q .45 Mar. 1 Jan. 30 Transcontinent TV-B Q .12)4 Feb. 15 Jan. 31