Weekly television digest (Jan-Dec 1962)

12 FEBRUARY 26, 1962 Financial Reports of TVElectronics Companies These are latest reports as obtained during the last week. Dash indicates the information was not available at press time. Parentheses denote loss. Company Period Sales Pre-Tax Earnings Net Earnings Per Common Share Common Shares AT&T 1961 — year 1960 — year to Dec. 31 to Dec. 31 $8,592, 860.0001 8,110,217,000 $1, 325,587,00c1 1,250,955,000 $5.52 5.53 232.627.000 219.234.000 Dominion Electrohome Industries 1961 — year I960— year to Dec. 31 to Dec. 31 16,321,8501 15,175,000 397,981 333,104 .95 .79 Electronic Specialty 1961 — year I960— year to Dec. 31 to Dec. 31 27,574,3791 11,735,516 1,727,144 57,219 1,482,1441 37,219 1.67 .07 885,768 548,240 Emertron 1961 — year to Oct. 31 I9602 14,005,269 647,499 333,499 .17 2,000,000 Gabriel 1961 — year to Dec. 31 1960 — year to Dec. 31 30,304,892 31,237,141 1,294,016 (861,556) 591,049 (436,556)* .82’ 711,313 675,838 GPE Giannini Controls (Conrac) Hewlett-Packard Hoffman Electronics MCA Oak Mfg. Republic Corp. Tung-Sol 1961 — year to Dec. 313 1960 — year to Dec. 31 1961 — qtr. to Dec. 315 1960 — qtr. to Dec. 31 1961 — year to Dec. 31 1960 — year to Dec. 31 1962 — qtr. to Jan. 31 1961 — qtr. to Jan. 31 1961 — year to Dec. 31 1960 — year to Dec. 31 1961 — year to Dec. 31 1960 — year to Dec. 31 1961 — year to Dec. 31 1960 — year to Dec. 31 1961 — qtr. to Dec. 31 1960 — qtr. to Dec. 31 1961 — year to Oct. 28 1960 — year to Oct. 28 1961 — year to Dec. 31 1960 — year to Dec. 31 234,620,431 244,427,566 63,424,341 67,873,016 22,042,394 15,848,007 24.738.000 20.608.000 57,243,000 54,271,837 82,393,116 67,317,103 23,017,077 17,642,295 31,729,670 29,073,164 65,946,154 66,471,971 15,389,281 12,962,433 1,182,662 1,513,612 3,577,629 4,396,209 5,866,366 5,312,692 1,677,326 1,690,180 858,799 599,401 3.45 3.22 .98 1.05 1,558,328 1,492,508 1,558,328 1,492,508 .813 1,065,268 ■723-7 814, 3807 1.887.000 1.452.000 .17 9,889,446 .13 9,816,561 647,000 (968,400) .42 1,534,088 1,524,221 7,482,951 6,270,230 557,662 351,310 251,785 (81,603) 1,977,629 2,096,209 1,510,577 1.476,259 1.83 1.55 .85 .54 .39 .74 .80 1.40 1.37 4.040.735 3.995.735 655.794 647.794 655.794 647.794 2,443,448 2,004,190 925,783 924.521 Notes: 1 Record. 2 Not in existence. 3 After preferred dividends. (35tf a share) from sale of properties. 7 Adjusted for Aug.-1961 4 After $425,000 tax credit. ? Preliminary. 0 Includes net of $545,258 2-for-l stock split. Common Stock Dividends Corporation Period Amt. Payable Stk. of Record Consol. Elec. Ind. Q $0.25 Apr. 5 Mar. 20 GE Q .50 Apr. 25 Mar. 16 Pathe Equipment “A” — .05 Mar. 1 Feb. 15 ■ Mergers & acquisitions: Siegler will acquire Lear Inc. if stockholders of both firms approve at special meetings this spring. Siegler would exchange 5 of its common shares for each 7 of Lear’s outstanding 2,802,448 shares; transaction would involve some $44 million at current market prices. Siegler already has purchased from Lear Chmn. William P. Lear Sr. & family 650,000 shares currently worth $13 million ® Macfadden Publications and Bartell Bcstg. will merge into Macfadden-Bartell Corp. Under terms approved by shareholders of both firms last week, Macfadden holders will get 2 shares of stock in merged company for each share of Macfadden common held; Bartell shareholders will exchange their stock on 1-for-l basis. Bartell, which owns 121,000 shares of Macfadden, has 1,318,000 shares outstanding. Macfadden has 445,889 shares outstanding • Avco and Ultra Electronics have signed agreements for joint studies and possible joint ventures in general fields of communications and electronics. Davega Stores plans to petition a federal court for reorganization under Chapter XI of the Bankruptcy Act. Chmn. Mike Goldgar said the 26-store chain’s assets & liabilities each amount to about $3 million, blamed “unprofitable” sales of appliances for Davega’s inability to pay all creditors. If reorganization plan is approved by court & 51% of creditors, Goldgar said, United Star Co. of Atlanta, which recently bought control of Davega, “will then advance $500,000 to $1 million additional working capital.” Goldgar also is United Star chmn. Davega is forced to seek court help, he continued, because “some 3 or 5 uncooperative vendors had refused to wait” for payment of bills. Emerson Radio & Phonograph scored a sharp profit rise to about 30tf a share on $21-million sales in fiscal1962’s first quarter ended Jan. 31, compared with 6<f on $15-million sales a year earlier. Pres. Benjamin Abrams told annual meeting last week that Emerson anticipated total-year gains over $1.9 million (84<f a share) earned on $70.9-million sales in fiscal 1961. National Video secondary offering of 74,840 Class A shares was oversubscribed after going on market at $15.50 a share. Bache & Co. and associates were underwriters for $1,160,020 offering by National Video officers & directors and a charitable foundation. No proceeds accrued to company.