Television digest with electronic reports (Jan-Dec 1953)

12 Financial & Trade Notes: Magnavox reports highest sales and earnings in its 42-year history in fiscal year ended June 30, and pres. Frank Freimann added in annual report that July and Aug. sales this year were well ahead of last year. Earnings in 12-month period were $2,238,337 ($2.93 a share), up 67% over $1,343,760 ($1.80) in corresponding period year ago. Sales were $57,979,669, up 57% over $36,837,503 in fiscal year ended June 30, 1952. Assets were listed at $25,742,668, liabilities $18,571,335. Backlog of orders amounted to $55,000,000. Freimann said “the large increase in sales came from the increasing volume of electronic military apparatus as well as a major gain in TV & radio-phonographs,” added: The TV industry as a whole faces a favorable market for a continuing high level of business in spite of the chionic adversities characteristic of this industry. Though such negative factors as ‘color talk’ may engender some buying hesitancy, however, the expanding new TV market, the large unsold portion of the older markets in the laiger metropolitan areas, plus the second set market aggregate to a very large sales potential for the coming months.” Emerson Radio sales for fiscal year ending Oct. 31 will be highest in company history and profits should be more than 50% higher than in 1952, though not a record. That was report by pres. Benjamin Abrams to N. Y. Society of Security Analysts this week. In preceding fiscal year, Emerson had net income of $2,362,555 ($1.17 a share) on sales of $57,664,200, but its record in both profits and sales was in fiscal 1950, with $6,514,716 ($3.36 a share) on $74,188,297. Abrams said about 25% of company’s volume is in defense billing. Emerson this week made news on another front, acquiring majority interest, for undisclosed sum, of Quiet Heet Mfg. Co., Newark air conditioner manufacturers, which will make air conditioners under Emerson label, starting by year’s end. It will be an Emerson subsidiary but will continue under its present management (Samuel Peters, pres.). Raytheon reports net profit of $884,000 (38<i a share) after taxes of $1,430,000 on sales of $37,272,000 in first quarter of fiscal year ended Aug. 31, compared to $640,000 (27tf) after taxes of $1,325,000 on sales of $31,260,000 corresponding quarter year ago. General Instrument Co. profit for 6 months ended Aug. 31 more than doubled the $303,592 reported in same 1952 period, reported chairman Abraham Blumenkrantz to N. Y. Society of Security Analysts. Six-month sales totaled over $19,000,000 vs. $12,071,483 year ago, he added. Unusual souvenir from Washington’s WRC — to call attention to fact that it’s going into 31st year — was a tiny crystal radio, workable too, made by Philmore Mfg. Co., N. Y. Inquiry develops that some 50,000 crystal sets are still being made annually, largely for export, and that more than 250,000 are in use around the world. WRC publicity chief Jay Royen says he paid $1.29 per set, retail. Top-level Telecommunications Planning Committee under ODM asst, director for telecommunications William A. Porter was officially set up Sept. 23 by ODM director Arthur S. Flemming. An FCC commissioner will be v.p. and other member agencies will be State, Defense and Commerce Depts. and Central Intelligence Agency. Basic principles required to convert radio technician into TV serviceman comprise Television Fundamentals — Theory, Circuits & Servicing by GE’s Kenneth Fowler & Harold B. Lippert (McGraw-Hill, 524 pp., $7), featuring same fundamental course given GE servicemen. Surgical colorcasts will be microwaved between U of Kansas Medical Center and Veterans Administration Hospital, both Kansas City, when facilities are completed by phone company; U of Kansas has CBS color equipment. TV’s influence on furniture industry has been extensive and will continue to challenge imagination of designers as TV markets expand. That was theme of address by RCA Victor industrial designer Henry Dreyfuss to Home Fashion Week luncheon at Philadelphia’s Adelphia Hotel. TV has replaced fireplace as center of interest in living room, said Dreyfuss, adding: “Who is the manufacturer who will relieve the restlessness that comes with watching TV for 3 or 4 hours? The idea of a revolving, reclining or rocking chair is a possibility. How about the nervous fingers of both children and adults, intent on watching a show? Antimacassars might be the answer, or perhaps wooden rings on the ends of arms.” He also foresaw expanded market for slip covers and increased use of synthetic fibers in upholstery as continued TV viewing wears out furniture more quickly. He suggested home furnishings industry make greater use of TV advertising to display new interior decorating techniques. Trend is toward 17-in. set — in Britain, that is. It was hit of recent 11-day National Radio Show in London, which attracted more than 250,000, at 35tf a head. More than 30 TV manufacturers exhibited sets, nearly all featuring 17-in. models — shown for first time last year and already accounting for more than one-fifth of all TV sales in Britain, at $290 and up. Two manufacturers — His Master’s Voice and Cossor — showed 21-in. sets, and Pye Ltd. created sensation with 27-in. at $700. Still in evidence were 9-in. sets, beginning at $120. Pye reportedly had planned demonstration of own compatible color system, but cancelled it when show’s management expressed fear it might injure black-&-white sales. Westinghouse listed 11 TV models on which $10 increase disclosed last week will be applied (all 21-in.) : maroon table model, $230 to $240; mahogany table model, $250-$260; mahogany table model, with built-in uhf, $300$310; open-face mahogany console, $340-$350; open-face blonde console, $360-$370; half-door mahogany console, $380-$390; open-face mahogany console, with uhf, $390$400; half-door blonde console $400-$410; open-face blonde console, with uhf, $410 to $420 ; half -door mahogany console, with uhf, $430 to $440; half-door blonde console, with uhf, $450-$460. TV sales by Canadian factories totaled 156,736 in first 8 months, at average price of $414, compared to production of 215,553, reports Canadian RTMA. Projected production figures estimate 129,875 sets will be turned out in next 3 months. For Aug. alone, sales were 22,264, production 27,720, inventory 65,171 at month’s end. Quebec led in sales with 7846, Toronto second, 6745; HamiltonNiagara 2606; Ottawa & eastern Ontario 2271; Windsor 1572; other Ontario 766; British Columbia 322; Prairies 83; Maritime Provinces 53. Low-cost uhf receiving antenna, built in one piece and weighing 3 oz., is seen as answer to high cost of conversions by mgr. Frederic F. Clair of upcoming WACH-TV, Newport News-Norfolk, Va. (Ch. 33). Station’s engineering staff devised and tested antenna, which “requires minimum of material and virtually no apparatus to manufacture.” It may be used either indoors or outdoors, according to Clair, and “it works beautifully indoors over 10 miles from the station.” Realignment of DuMont transmitter div. under new sales operations mgr. Charles E. Spicer (Vol. 9:38) is as follows: Harry Del Muro, vhf engineering; George H. Shearer, uhf engineering; F. Cecil Grace, product planning & development of special field equipment; Eugene Wald, storage & shipment of station equipment; Charles F. Brandt, customer service. Remco Inc., Chicago Sylvania distributor, sponsoring disc jockey show titled TV Warehouse on WBKB, Sat. 9:30-10, will have dealer participants.