Weekly television digest (Jan-Dec 1963)

12— TELEVISION DIGEST lANUARY 21. 1963 Financial Reports of TV-Electronics Companies These are latest reports as obtained daring the last week. Dash indicates the information was not arailable at press time. Parentheses denote ioss. Company Period Sales Pre-Tax Earnings Net Earnings Per Common Share Common Shares Electro-Voice 1962 — 9 mo. to Nov. 30 $ 8,402,233 $ 114,127 $0.23 497,332 1961 — 9 mo. to Nov. 30 8,903,699 270,660 .54 497,332 MGM 1962—12 wks. to Nov. 22 (2,366,000) — 2,569,229 1961 — 12 wks. to Nov. 22 2,173,000 .85 2,545,229 Pacific Industries 1962 — qtr. to Nov. 30 7,468,085 123,148 .07 1,887,239 1961 — qtr. to Nov. 30 5,476,031 229,887 .12 1,887,239 Republic Corp. 1962 — year to Oct. 27 43,285,706 1,764,314 .56’ 2,443,448 Story below 1961 — year to Oct. 27 31,729,670 1,977,629 .74’ 2,443,448 Stanley Warner 1962 — 13 wks. to Nov. 24 34,208,890 629,779 .31 2,033,924 1961 — 13 wks. to Nov. 24 35,283,450 1,312,720 .65 2,027,724 Notes: ’After preferred dividends. Common Stock Dividends Stk. of Corporation Period Amt. Payable Record .Allied Radio Q $0.08 Feb. 26 Feb. 11 Avnet Electronics . Q .10 Feb. 18 Jan. 28 Gross Telecstg. . . Q .40 Feb. 12 Jan. 25 Gross Telecstg. — “B” Q ■om Feb. 12 Jan. 25 Hazel tine Q .20 Mar. 15 Mar. 1 Paramount Pictures Q .50 Mar. 11 Feb. 25 Republic Corp. Q .15 Feb. 15 Feb. 1 Stanley Warner Q .30 Feb. 25 Feb. 8 Wometco Enterpr. — “A” Q .15 Mar. 15 Mar. 1 Wometco Enterpr. — “B” Q .05% Mar. 15 Mar. 1 Republic Corp. earnings in year to Oct. 28 dropped to 55^ a share from in fiscal 1961 despite sharp sales rise to about $43 million from $31.7 million. Fiscal-1962 earnings were estimated at about $1.7 million — down from $2 million a year earlier. Chmn. Victor M. Carter said 1963 earnings would climb “conservatively” to 80-85<i a share on sales rise to $46-47 million. Republic scored sharp profit gains in 4th quarter (to $615,264 from $411,651) and Carter attributed improvement mainly to pickup of shipments by its Utility Appliance Corp. after widespread construction strikes in California last summer. Contributing to fiscal-1963’s favorable outlook. Carter said, is fact that contracts for release of library of 850 films through Republic’s Hollywood TV Service Div. “are running well ahead of schedule.” Zenith details its “all-time high record-breaking sales” in 3-page trade press ads; “Again Zenith is first in TV sales (share of industry first again by a wide margin)! For the 4th straight year and still growing . . . over a million Zenith b&w TV sales! . . . New all-time high Zenith stereo sales . . . stereo consoles up 47% . . . New all-time high in Zenith radio sales . . . 1962 color TV sales placed Zenith in a leading industry position . . . Zenith [color] production plans doubled for 1963!” Indiana General posted record 1962 sales & earnings. Pres. Robert F. Smith said. Figures weren’t released but 9-month sales (Vol. 2:45 pl2) were 26% ahead, earnings 43%. Indiana General in 1961 earned $1.8 million on $22 million sales. Reports & Comments: AT&T, review, Oppenheimer, Neu & Co., 120 Broadway, N.Y. 5 • Hallicrafters, prospectus, Paine, Webber, Jackson & Curtis, 25 Broad St., N.Y. 4 • GE & RCA, analyses, Eastman Dillon, Union Securities & Co., 15 Broad St., N.Y. 5 • “Visual Communications, A Growth Industry,” discussion, Irving Weis & Co., 40 Exchange Place, N.Y. 5 • AT&T, comment, Spingam, Heine & Qo., 37 Wall St., N.Y. 5 • RCA, analysis, Walston & Co., 120 Broadway, N.Y. 5 • Westinghouse, discussion, Amott, Baker & Co., 150 Broadway, N.Y. 5 • Sprague Electric, analysis, Evans & Co., 300 Park Ave., N.Y. 22 • Collins Radio, prospectus, Kidder, Peabody & Co., 17 Wall St., N.Y. 5 • Litton Industries, prospectus, Lehman Brothers, One William St., N.Y. 4 • Magnavox, analysis, L. F. Rothschild & Co., 120 Broadway, N.Y. 5 • ITT, review, J. Barth & Co., Ill Broadway, N.Y. 6 • CBS, review, Coggeshall & Hicks, 111 Broadway, N.Y. 6 • Schlumberger (Daystrom), review, Reynolds & Co., 120 Broadway, N.Y. 5. A. C. Nielsen expects profits & revenues in fiscal-1963’s first half, ending Feb. 28, to “continue the improvement trend” noted in first fiscal quarter (Vol. 3:2 pl2) when earnings gained to $675,329 from $657,830 on 12% sales rise to $10.7 million from $9.5 million in Sept.-Nov. 1961. Pres. A. C. Nielsen Jr. said “we expect earnings for the 6 months to be greater than the like 1962 period” when profits totaled $1.4 on $19.4 million revenues. Company now has offices in 15 foreign countries which chip in some 25% of total revenues. Kennedy Administration anticipates 12% increase in sales of home entertainment & musical equipment in fiscal year beginning next July 1, it was indicated in budget estimates submitted to Congress last week. President’s budget stated that $215 million was collected in fiscal 1962 excise taxes on TVs, radios, phonos, records & musical instruments. Estimated fiscal 1963 revenue was $237 million, rising to $265 million in fiscal ’64. Cavalier Radio & Electronics, Rego Park, N.Y. maker of radios & related products, has filed Chapter 11 petition in Federal Court, Brooklyn. Attached statement listed liabilities (as of Oct. 31, 1962) of $484,208 & assets of $492,855. Current assets totaled $356,333.