Broadcasting Telecasting (Oct-Dec 1963)

earning year for the company will result from operations during the fourth quarter. The 3M Co. owns Mutual Broadcasting System. Nine months ended Sept. 30: Earned per share Sales Net income 1963 1962 $ 1.24 $ 1.13 564,115,122 515,694.783 64,900,008 59,163,578 Reeves earnings up $111,000 in nine months The Reeves Broadcasting Corp., New York, reports that its earnings for the nine-month period ended Sept. 30 exceeded net profits for the same period last year by approximately $ 1 1 1 ,000. The firm last week released figures showing that earnings for the past three quarters came to $146,000, as opposed to $34,900 for 1962. Reeves owns wusn(tv) Charleston, S. C; kbak(tv) Bakersfield, Calif.; and whtn(tv) Huntington, W. Va. It also furnishes sound recording and video-tape services and facilities through its studio division in New York. Nine months ended Sept. 30: Earned per share Gross revenue Pre-tax income Net profit Cash flow 1963 1962 $ 0.104 $ 0.025 4,013,000 3,573,900 293,000 72.000 146.000 34,900 510,600 449.500 Macfadden-Bartell has 12% increase in net Macfadden-Bartell Corp., New York, last week reported that net sales for the past three quarters were up 12% — an increase attributed, in part, to a 208% rise in cash flow from the organization's broadcast operations. Macfadden-Bartell, primarily a publishing group, owns wado New York, woky Milwaukee and kcbq San Diego. It also holds a franchise to try out the Teleglobe pay TV system in Denver. Nine months ended Sept. 30: Earned per share* Net sales and revenues Expenses Operating profit or (loss) before depreciation Depreciation Net income or (loss) after taxes** Cash flow generated from operations Number of shares outstanding 1963 0.77 $ 1962 0.21 19,156,715 17,092,336 17,765,437 17,281,767 1.391,278 154,115 (189,431) 213,531 1,237,163 (402,962) 1,391,278 (189,431) 1.591,472 1,943,598 *Based on 1,591,472 shares outstanding, compared to 1,943,598 same period last year. "No provision for federal and state income taxes necessary because of tax loss carried forward. Standard Kollsman has drop in sales and net A decrease in sales and earnings by Standard Kollsman Industries Inc., Melrose Park, 111., for the nine months of 1963 ended Sept. 30 was attributed by Raymond F. Ryan, treasurer, to cut backs in government orders for navigation equipment and losses by the company's electric blanket division. Nine months ended Sept. 30: 1963 1962 Earned per share* $ 0.16 $ 0.95 Net sales 55,087.907 67,656.430 Net income before tax 738,389 3,796,979 Net income after tax 350.350 2,138,899 *Based on 2,254,296 shares outstanding at end of each period. Transcontinent TV's income up, net down Transcontinent Television Corp. revenues were up but net income was down for the nine months of 1963 which ended Sept. 30. In a $38.5 million transaction. TTC is selling all its stations except wdok-am-fm Cleveland. Buyers are Taft Broadcasting, purchasing Buffalo, Kansas City and Scranton, Pa., radio and TV outlets; Midwest Television, Bakersfield, Calif., and TimeLife, San Diego (Broadcasting, Sept. 23). The sale awaits FCC approval. Nine months ended Sept. 30: 1963 1962 Earned per share $ 0.48 $ 0.63 Broadcasting and other revenues 11,609,941 11,265,933 Total expenses 9,737,035 8,757,071 Income before income taxes 1.872,906 2.508,862 Income taxes 1,007,000 1,391,000 Net income 865,906 1,117,862* *Before loss of $87,451 on sale of land. Zenith sales, earnings reach 45-year heights Forty-five year records in sales and earnings for both the third quarter and nine months were reported last week by Zenith Radio Corp. The Chicago firm also announced that sales volume in September was the highest of any month in Zenith history with the fourth quarter expected to hit still another all-time high. Zenith said 1963 will be the fifth consecutive year in which it has sold over a million black-and-white TV sets. Color set sales are running double for those of last year. Zenith subsidiary Rauland Corp. is now producing color TV tubes but the yields have not reached expected levels, Zenith noted. Nine months ended Sept. 30: 1963 1962 Earnings per share $ 1.37 $ 1.28 Total sales 257,907,000 227,006,000 Net earnings* 12,570.000 11,591,000 ♦After federal income taxes of $14,640,000. Teleprompter earnings near $4 million mark Teleprompter Corp. last week reported earnings of $77,065 on revenues of $3,919,070 for the nine months ending Sept. 30. This earning figure, which includes operation of businesses to be disposed of and special gain from property sales, represents 10 cents a share. Comparable figures for the first BROADCASTING, November 11, 1963