Weekly television digest (Jan-Dec 1963)

NEW SERIES VOL. 3. No. 11 TELEVISION DIGEST— 11 Trade Personals Joseph H. Quick resigns as National Co. pres. . . . Stanley Cohen appointed engineering vp of Standard Kollsman Industries’ subsidiary Kollsman Motor Corp. Dr. Paul H. Gleichauf, ex-GE electronics lab, joins Zenith’s Rauland Corp. as monochrome CR tube research & development dept. mgr. Ralph J. Guda named National Union Electric vp & a dir. . . . Richard P. Bucci appointed Sylvania Semiconductor Div. controller. Perry Winokur, formerly Polk Brothers sales promotion mgr., named national sales mgr. of Mercury Record’s Phonograph Div., succeeding Irving Russell, resigned. Gerald Willner appointed Oljrmpic Radio & TV Sales Corp. ciedit mgr. G. R. (Dick) Soden named southern regional sales mgr., Packard Bell Home Products Div., succeeding L. R. Swiney, appointed Packard Bell distributor in Phoenix. Obituary Maurice Kalen, 47, RCA financial operations & analysis dir., died suddenly March 9 while vacationing in Nassau, B.W.I. He lived in Murray Hill, N.J. Previously, he was controller of RCA’s Electron Tube Div. Wilbert K Stevenson, 63, chmn. of Raytheon’s Machlett Labs subsidiary, died March 6 in Springdale, Conn. Widely knovm in electronics industry, he joined Machlett in 1935 as sales vp, became pres, in 1955. He served as an EIA dir. 1958-59, was a representative for Electronic Tube & Semiconductor Div. John J. Parsons, 61, retired ITT engineering executive, died in N.Y. March 9 following an accident. He joined ITT in 1925 as a student trainee, held key engineering & executive posts in Europe, Latin America & the U.S. before retirement in 1958. Distributor Notes: Olympic Radio & TV appoints Womack Radio Supply, 515 Wilson Ave., Danville, Va., distributor for Virginia; Womack Electronic Corp., 106 N. Carolina St., Goldsboro, N.C., for North Carolina; establishes 2 new branches: Olympic TV of Washington (William Allen branch mgr., Pat Edwards office mgr.), 825 South Stacy, Seattle, for western Washington; Olympic TV of Central N.Y. (Glenn Sheldon branch mgr., Janet Cooper credit & office mgr.), 845 Hiawatha Boulevard, Syracuse, for upper N.Y. state. Mergers & acquisitions: Audio Devices has purchased Olympic Record Co., Santa Monica, Cal. manufacturer of master & instantaneous recording discs • United Shoe Machinery Co. has purchased for cash Truelove & Maclean Inc., Waterbury, Conn, maker of precision metal components used in electronic, electrical & appliance fields. New plants & expansions: Warwick Mfg. will build $2.5 million TV manufacturing plant at Forrest City, Ark. Production is slated to begin in 1964‘s first half. Pres. L. G. Haggerty said new plant is “designed to meet the increased requirements of our customers.” Warwick operates TV plant at Zion, HI., radio manufacturing plant at Niles, 111. Motorola Profit Jumps 28%: Buoyed by record sales of $346.9 million. Motorola’s 1962 earnings boomed 28% to $12.2 million from 1961’s $9.5 million (see financial table). Sales rose 16% over 1961’s $298.2 million. Motorola’s $102.2 million 4th-quarter sales also were record — up from $90.5 million a year earlier — but earnings remained at $3.1 million. Pres. Robert W. Galvin said Consumer Products Div. captured its largest-yet share of TV market. “Proportionately greater improvement” in 1963 earnings was forecast by Galvin, but first-quarter profits “may possibly be down” from $2.5 million a year earlier because of costs of introducing color TV & expanding semiconductor facilities. He expects sales to top 1961’s firstquarter volume of $77 million. ■ International Resistance, which posted record 1962 sales & profits (Vol. 3:7 pl2), closed year with total current assets of $10,237,927 (including $1,267,688 cash & $3,278,532 receivables), up from 1961’s $8,504,536 ($1,116,046 & $2,811,835). Annual report to stockholders listed total current liabilities at $4,189,336 vs. $3,664,353 year ago. “The company is in sounder condition than ever before,” Pres. Walter W. Slocum noted. “Our financial condition is strong, our product lines have been upgraded and expanded, and our research & development effort is creating a stream of new products.” He said introductory expenses “will have some impact on earnings during the first half of the year, but we anticipate that for 1963 as a whole, we will again set new records in both sales & earnings.” Giannini Controls, Conrac’s parent, expects 1963’s first 6 months “to show an improvement in earnings over the 2nd half of 1962.” Profit margins have improved since then. Pres. Donald H. Putnam reported, and “we expect steady improvement throughout 1963.” Giannini’s 1962 earnings slipped from 1961 levels despite sharp sales gain (Vol. 3:7 pl2). Earnings in 2nd half totaled an indicated 18(J a share, vs. first-half’s 40^. Industrial sales now account for 40% of total, and Giannini is aiming for 50-50 ratio between commercial & govt, business. GE has distributed “nearly $100 million” of its common stock & U.S. savings bonds to 150,000 employes enrolled in 2 GE savings plans. Major payout represents first annual distribution of company’s Savings & Security Program, initiated 1959, under which eligible employes can invest up to 6% of their earnings in savings bonds or combination of latter & GE stock. GE adds $1 to each $2 saved. Distribution involved 480,000 shares of GE common, valued at nearly $36 million, and savings bonds with face value topping $73 million. Adler Electronics will post record sales & profits in its 1963 fiscal year ending June 30, Pres. Benjamin Adler predicted. He forecast total sales of about $25 million — up from fiscal-1962’s $16.6 million — estimated per-share earnings would rise to $1 from 65^ a year earlier. “We hope some day to pay a dividend,” he said, “but can’t see one within the next year. If we did pay a dividend, it might be a stock dividend, but nothing definite has been determined.” CBS Labs & CBS-TV Network have been retained by NASA’s Jet Propulsion Lab as joint consultants on display & closed-circuit TV systems of new Space Flight Operations Facility, Pasadena, Cal.