Weekly television digest (Jan-Dec 1963)

12— TELEVISION DIGEST FEBEOAHY 11. 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 Electronic Communications Fairchild Camera & Instrument Filmways General Tire & Rubber Story below Raytheon Servel Sparton Corp. Toshiba Story on p,1 1 TranscontinenI TV Walt Disney Productions Warner Bros. Pictures 1962 — qtr. to Dec. 31 $ 1961 — qtr. to Dec. 31 1962 — year to Dec. 31 1961 — year to Dec. 31 1962 — qtr. to Dec. 31 1961 — qtr. to Dec. 31 1962 — qtr. to Nov. 30 1961 — qtr. to Nov. 30 _ 1962 — year to Nov. 30 1961 — year to Nov. 30 _ 1962 — year to Dec. 31 1961 — year to Dec. 31 1962 — qtr. to Dec, 31 1961 — qtr. to Dec. 31 1962 — year to Oct. 31 1961 — year to Oct. 31 1962 — 6 mo. to Dec. 31 1961 — 6 mo. to Dec. 31 1962 — year to Sept. 30 1961 — year to Sept. 30 _ 1962 — year to Dec. 31 1961 — year to Dec. 31 1962 — qtr. to Dec. 29 1961 — qtr. to Dec. 29 _ 1962 — qtr. to Dec. 1 1961 — qtr. to Dec. 1 Sales 7,387,415 7,052,000 101,550,000* 92.254.000 27.922.000 24.993.000 2,990,000 2,547,634 959,769,316* 809,020,262 580,721,000* 562.901.000 139.837.000 155.759.000 $ 22,920,208 20,651,054 16,423,323 11,174,932 748.673.000 586.675.000 15,644,254 15.464.000 15.300.000 15,634,302 22.174.000 20.613.000 Pre-Tax Earnings $ 78,480 87 49,759,802 51,998,341 19.248.000 13.067.000 2,680,966 2,338,.501 53.498.000 55.536.000 2,700,473 3,568,213 Net Earnings Per Common Share Common Shares $0.15* .20* 2.36* 2.07* .69* .59* 755,809 717,758 2.53.5.083 2,498,272 2.535.083 2,498,272 568,554 568j554 1.55 1.62 16,604,760 16,251,861 2.44’ 1.69 .55 .50 4,017,488 3,891,672 4,017,488 3,891,672 1.29* 1.13* 1.928.345 1.925.345 121,098 146,000 5,990,000’.* 5,252,000* 1,754,000* 1,500,000* 44,880 87 26,744,802 27,343,341 10,078,000’ 6.877.000 2.259.000 2.030.000 2,636,690 2,356,142* 471,899 (7,211) 28.131.000 27.633.000 1,620,583* 1,331,179 1,304,473 1,669,213 904.424 904.424 1,765,012 1,770,772 1,725,049’* 1,725,049’* .92* .75 .76’* .97“ 2,010,000 1,939,000 .41 4,837,052 .40“ 4,830,052 u Notes: ‘Includes special tax benefit of $1.7 million resulting from losses of Allan B. Du Mont Labs prior to merger. * After preferred dividends. ’ Includes special tax benefit of $1.4 million. * Includes $727,000 special tax benefit. ® Includes $629,000 special tax benefit. * Record. ‘Before special charge of $325,000 (13tf a share) for losses of foreign subsidies. * After $17,551 tax credit. • After non-recurring charge of $218,000 (12^). “Adjusted to reflect Jan.-1963 3% stock dividend. “ Adjusted to reflect Feh.-1962 4-for-l stock split. Muntz TV Ends Chapter 10: Muntz tv officers lit a fire last iveek in Chicago chambers of U.S. District Court Judge Michael L. Igoe. Up in smoke went company’s Chapter 10 reorganization plan. On Feb. 5, Muntz TV completed plan by paying out $296,581 to liquidate $5 million indebtedness dating to 1954. “Creditors have received 100 cents on every dollar of indebtedness,” reported Chmn. Floyd G. Dana. Muntz TV closed its 1962 fiscal year Aug. 31 with record sales (Vol. 2:44 pl2). It opened its 1963 fiscal with highest firstquarter sales in 8 years (Vol. 2:53 pll) and is projecting total fiscal-1963 sales of $15 million — up from $11.4 million a year earlier. RKO General posted record billings & earnings in 1962. No figures were released, but General Tire & Rubber Pres. M. G. O’Neil said billings of broadcasting subsidiary rose 15% above 1961. Over-all, tire company’s profits declined to $26.7 million from $27.3 million despite 18.6% sales rise to $959.8 million from $809 million in 1961 (see financial table). Lynch Corp. directors last week gave preliminary approval for purchase of Cox Instruments Corp. (formerly Peninsula Metal Products Corp.), which already is 54.7% owned by Lynch. Cox minority stockholders would receive 1.05 shares of Lynch common stock for each share of Cox. Lynch is parent company of Symphonic Electronic. Common Stock Dividends Corporation Period Amt. Payable Stk. of Record CTS Corp. Q $0.12% Apr. 19 Mar. 29 Disney Productions Q .10 Apr. 1 Mar. 15 Gen’l Tire & Rubber Q .10 Feb. 28 Feb. 18 Magnavox Q .17% Mar. 15 Feb. 25 P. R. Mallory Q .35 Mar. 11 Feb. 13 Oak Mfg. Q .07% Mar. 15 Mar. 1 Screen Gems ... Q .15 Mar. 21 Feb. 25 United Artists Q .40 Mar. 29 Mar. 15 Philco’s 1962 sales were in the ; area of $400 million. compared with $421 million in 1961. Estimate stems from comment of Ford Chmn. Henry Ford 2nd that Ford’s 1962 volume rose 15% above 1961 level if Philco sales are excluded. Ford’s consolidated 1962 sales rose 21% from 1961 to record $8,089 billion. Earnings jumped 17% to record $480.7 million. Emerson Radio Pres. Benjamin Abrams reported to stockholders that 1962 ’TV sales increased by approximately 20% over 1961, while profits on these sales rose by 30%; profits on radios & phonos were “substantially higher,” while sales of Emerson & Du Mont color sets “practically doubled in 1962” as did tape recorder sales. Reports & comments: AB-PT & RCA, comments, A. M. Kidder & Co., One Wall St., N.Y. 5 • Cenco Instruments & RCA, discussions. Shields & Co., 44 Wall St.