Weekly television digest (Jan-Dec 1963)

12-TELEVISION DIGEST DECEMBER 30, 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 toss. Company Period Sales Pre-Tax Earnings Net Earnings Per Common Share Common Shares Allied Radio 1963— qtr. to Oct. 31 $ 13,173,000 — $ 34,000 $0.03 1,065,098 1962— qtr. to Oct. 31 13,636,000 — 122,000 . 11 1,019,739 Muntz TV 1963— qtr. to Nov. 30 3,627,875 $ 315,563 156, 970^ . 11 1,437,482 1962— qtr. to Nov. 30 3,322,068 392,381 331,235 .23 1,437,482 RCA 1963— year to Dec. 31^ 1,780,000,0003 135,000,000 65, 000, 0003 51,535,0004 3.55 17,390,000 Story on p. 11 1962— year to Dec. 3L 1,751,646,000 107,935,000 2.84 17,023,000 1963— qtr. to Dec. 31^ 466,000,000 — 20, 800, 0003 — 17,390,000 1962— qtr. to Dec. 31 486, 173,000 38,057,000 17,257,OOo4 .96 17,023,000 Notes: ^After full Federal income taxes; previous tax -loss carry-forward credits expired in fiscal 1963. Zprpiirginag ^Record. '^Before net capital gain of $6,960,000 (41^ a share) from sale of 991,816 Whirlpool common shares. ^Indi cated. Trade Personals Dr. Elmer W. Engstrom, RCA pres., appointed to National Bureau of Standards' Statutory Visiting Committee. William L. Davis, ex-RCA Service Co., appointed Admiral national service mgr. for distributing branches, a new post, headquartering in Chicago. Robert W. Sanders, Magnavox chief TV engineer, promoted to Consumer Products Div. engineering mgr., headquartering in R. Wayne. Walter Kissinger promoted from Harman-Kardon actir^ gen. n^r. to vp & gen. mgr. . . Joseph M. Silver, ex-Martel Electronics, joins Majestic International Sales Corp. as gen sales mgr. and asst, to Pres. Leonard Ashbach, a new post. J. Penn Rutherford, formerly International Resistance exec, vp, appointed exec, vp of Penn Controls, Goshen, Ind. Charles L. Alden appointed Minnesota Mining and Mfg. Magnetic Products Div. merchandising mgr.; Carl J. Andrews named ad mgr. Jack Slmberg and Daniel J. Domin, Muntz TV vp and secy.-treas., respectively, elected dirs. Anlello A. DlGlacomo promoted to r&d vp. General Instrument Capacitor Div.; he's succeeded as engineering vp by Dr. Archie Broodo, ex-GE. Obituary Fred Bonar Wright, 79, retired Western Electric PR dir. (1922-1949), died Dec. 21 in New Rochelle Hospital, N. Y., after short illness. He is survived by his widow and 2 sons. Jointly owned electronics firm is planned by Thompson Ramo Wooldridge & Martin Marietta Corp. "to engage in applications of electronics to modern industry." Directors of both companies have approved plan in principle, details wiU be worked out over next month or so. Muntz TV, which posted $3. 6 miUion sales in fiscal1964' s opening quarter (see financial table), anticipates total-year volume of $15 million, up from $11.8 million in 1963 fiscal ended last Aug. 31 (Vol. 3:43 pl2). Pres. Wallace A. Keil expects sales of 20, 000 color sets for $8 million color volume, compared with 2,000 color seta in preceding year. B&w sales are projected at 80, 000 units. The 100,000-set forecast approximates fiscal1963' s unit sales, Keil pointed out, but dollar value will be higher. Color & combinations wiU produce some 709E of Muntz volume this year, he said. Muntz also reportec that it wiU introduce 16 -in. TV in Jan., has terminated its private-label business, has 10, 000 color tube allocation from RCA for 1964. P, R, Mallory anticipates 1963 sales & profit slippagi i stemming largely from "phasing out" of subcontract for electronic asseinblies used in Army radios & softening j prices in various product lines. Earnings are expected j to slip to about $3 a share on current shares from 1962' s $3. 15, sales to $93 million from $99. 1 million. Pres. G. Barron Mallory said price situation is "still bad" for capacitors, semiconductors & other items. Over-all, however, prospects for 1964 appear "good at least throufj the first 6 months," & 1964 sales are projected at more than $100 miUion. Seeking lift of 10% excise tax on TV receivers, FCC j Comr. Lee & staff recently met with Treasury Asst. Secjd Stanley S. Surrey, iirging that situation is unique because Congress placed special burden on industry thro^h allchannel law. Lee also warned that increased price of | all-channel sets may deter sales, reduce excise coUections. Commission has told Budget Bureau that excise tax removal is high on its list of legislative priorities. It's expected several congressmen will introduce bHls to remove tax. Ampex has registered 1, 511, 230 capital shares with SEC for exchange for 80% or more of Mandrel Industries capital stock. Houston-based Mandrel provides opieratiag services in geophysical exploration. Stock exchange, on basis of 9 shares of Ampex for each 10 of Mandrel, seeks to effect a "pooling of interests," to team Ampex equipment and Mandrel service to develop means for studying earth & oceans. i