Radio age research, manufacturing, communications, broadcasting, television (1941)

LIEUT. GEN. J.\MES G. H.\RB(IKD. CHAIR.MAN OK THE RCA BOARD OF DIRECTORS, PRESIDES AT THE ANNUAL MEETING OF STOCKHOLDERS. IN THE BACKGROUND \RK THE SIX ARMY-NAVY "e" FLAGS. THE VICTORY FLEET FLAG, AND THE "M" PENNANT WON BY VARIOUS UNITS OF RCA FOR OUTSTANDING ACHIEVEMENT IN THE WAR EFFORT. RCA STOCKHOLDERS MEET Company Has Developed for the Armed Forces More than 150 New Electron Tubes. 300 Types of Apparatus Not Manufactured Before, Harbord Reports. THE Radio Corporation of America has developed for the armed forces more than 150 new electron tubes and approximately 300 types of apparatus not manu- factured by any one before the war, Lieut. Gen. .J. G. Harbord, Chair- man of the Board of RCA. disclosed May 2 at the 2r)th annual meetioK of R(\A stockholdi'rs in a studio of the National I'.roadcastinjr Com- pany in New York. He reported that unfilled orders for RCA prod- ucts form a backlog of approxi- mately .$.'?00.0()0,000. General Harbord, speakinjr for the Directors in the absence of Colonel I)a\i(l Sarnoff, President of RCA, who is overseas on active duty with the .Army of the United States, announced a jrain in volume of production of the Company in the first (|uarter of 1911, but re- vealed that net jirofit, after Fed- eral Income taxes, was $2,101,000 —a decrease of $191,000, or 7..') per cent, compared with the same period last year. Consolidated ijross income of 1{CA during the first (piarter of 1944, was reported to be $78,809,000 coniiKired with $07,284,000 in the first (|uarter of last year, an in- crease of $11,525,000 or 17 per cent. Net profit before taxes amounted lo .$10,413,000, 16.5 per cent above llic same iH'i'iod in 1913. (ieiieral Harbord said l''cil;T;d Income taxes amounting to $8,012,- 000 are provided for in the first (|uarler of this year. This repre- sents an increase in taxes of $1,071,000 or 26.3 per cent over (he first (|uartcr in 1943. Earniufis for First Quarter Karnintrs per Common sliaic of slock before estimated Federal In- come taxes for the first quarter in 1944 were 09.3 cents, while earn- ini?s per Common share after the taxes were 11.6 cents a share. Es- timated Federal Income taxes were 57.7 cents per share. .A year avro the first (|uarter earnings per Com- mon share before Federal Income taxes were 58.G cents per share, the taxes 45.7 cents i^cr share, and after taxes were 12.9 cents jier share. Recalling' to stockholders that i;CA"s production of vital radio, sound, and electronic equipment for the armed forces and the L'nited Nations in 194.3 exceeded by more than 100 per cent that of 1912, (ieneral Harbord declared: ■■\'ictory, while surely ahead, is Mot yet in sight. We, too, must be untirin},' in our efforts to defeat (he enemy. It is for us to do our utmost on the production line, on I he invisible lines of comnumica- lions and on the home front—to work as never before to support (he valiant efforts of our fiKhting men," General Harbord said that RC.A's scientists and those of other labora- tories are jriven primary credit for decisive victory over the U-boats, and expressed the belief that "this epic of the sea and the triumph of science will be one of the great stories" for future generations. He remarked that while it now is possible only to mention the "magic Icrni radar", radio is achieving "almost unbelieval)le" results in na\igation and collision prevention and i)eacetime application of radar will contribute to the safety of all kinds of travel. "In attaining our excellent rec- ord of wartime production and com- nninication services," (Jeneral Har- l)ord asserted, "both management and workers have cooi)erated har- moniously and with constantly Increasing efiiciency. Labor-Man- agement War Production Drive Committees, sponsored by the gov- ernment, have been successfid in operation." The production achievements of RCA, it was pointed out, have been recognized by the government in the award to RCA plants and Lab- oratories of six Army-Navy "E" (lags, and eight stars, each reiire- scnting an additional six months of continued excellence in accom- plishment. These flags were on dis- play at the meeting. Further recognition of the skill and industry of RCA war workers has been evidenced by many indT- \ idual awards from the War Pro- duction Board for suggestions that have aided production, and many commendatory letters and messages have been received from Govern- ment officials and leaders of the .Army, N'avy and Air Forces. [30 RADIO AGE]