Weekly television digest (Jan-Dec 1963)

8-TELEVISION DIGEST JULY 15, 1963 COMPONENTS MAKERS SAG IN FIRST QUARTER: Composite components & tube maniiiacturers opened 1963's first quarter slowly. Drop in both sales & profits came on heels of whiz-bang 1962 (VoL 3:14 pll) which saw combined sales of 20 firms nearly $60 million ahead of 1961, consolidated earnings of 23 companies $13.5 million ahead. Amalgamated first-quarter sales of 22 representative components & tube manufacturers slipped more than $3.9 million to $278 million from $281.9 million in 1962's initial quarter. Combined earnings of these 22 firms sagged more than $2 million from year-ago pace to $7.5 million from $9.6 million. The 1963 total is after deducting $896,916 losses racked up by Tronsitron ($663,023), General Bronze ($172,220) & Oxford Electric ($61,673). The 1962 figures also ore net, after even greater loss, $1,196,585 — Sangamo Electric ($546,000), Federal Pacific Electric ($353,484), Tronsitron ($297,101). Many of companies we analyzed make other products in addition to tubes & components. Some are heavy on production of tubes & components for industrial, govt. & military use. However, they are representative of TV-radio components industry & are bellwethers of sales & profit trends of components for consumer electronic products. Companies analyzed: Amphenol-Borg Electronics, Clevite, CTS Corp., Erie Resistor, Federal Pacific Electric, Gabriel, General Bronze, Hawley Products, Indiana General, International Rectifier, International Resistance, Littelfuse, P. R. Mallory, Muter, National Union Electric, Oak Mfg., Oxford Electric, Sangamo Electric, Standard Kollsman, Texas Instruments, Transitron Electronic, Tung-SoL Our analysis of these 22 manufacturers produced these somewhat dismal capsule findings: (1) More than half — 12 of 22 — failed to match their yeor-eorlier sales. (2) Even greater number — whopping 16 of 22 — dropped in earnings. (3) Only one — International Resistance — posted sales record. (4) None set earnings record. Three firms finished in red each year, but Transitron was only repeater — with for greater loss in 1963's March quarter ($663,023) than year eorher ($297,101). Sangamo, which lost $546,000 in 1962 cjuarter, bounced back with $148,000 profit. Federal Electric, a $353,484 loser a year ago, moved into black with $67,615 profit. Conversely, General Bronze plunged into red with $172,220 loss vs. year-earlier's skimpy $9,457 profit. Oxford Electric also recorded red $61,673 vs. 1962's Jan.-Morch profit of $22,664. Among 6 firms that boosted earnings, apart from 2 that went from red to black, most impressive gains were netted by Muter, which jumped to $104,561 from $72,701, and CTS Corp., up to $619,149 from $550,014. Texas Instruments gained to $2.5 million from $2.4 million. Amphenol-Borg edged up to $440,517 from $412,384. Sales gains were generally better — but hardly spectacular. Among leaders: Sangamo jumped to $13.4 million from $10.6 million. Oak Mfg. — $9.3 million from $7.4 million. Texas Instruments — $59.8 million from $57.5 milhon. General Bronze — $4.1 million from $3.5 miUion. CTS Corp. — $7.3 million from $6.7 million. International Resistance — record $8.6 million from $8.4 million. Here's 1963-vs.-1962 first quarter performance of 22 representative components & tube manufacturers: Sales Earnings 1963 1962 1963 1962 Amphenol-Borg Electronics $ 20,241,803 $ 20,021,427 $ 440,517 $ 412,384 Clevite 25,275,052 25,972,229 1,450,690 1,852,350 CTS Corp 7,293,933 6,672,486 619,149 550,014 Erie Resister 6,875,520 6,991,486 63,661 255,467 Federal Pacific Electric 22,997,148 23,405,186 67,695 (353,484) Gabriel 7.390,000 7,529,828 107,519 222,735 General Bronze 4,114,822 3,518,297 (172,220) 9,457 Hawley Products 1,736,283 1,716,994 50,911 101,332 Indiana General 5,640,959 7,203,028 373,144 717,763 International Rectifier 4,723.483 5,101,371 167,318 382,287 International Resistance 8,588,476 8,391,400 452,089 680,896 Littelfuse 1,652,000 1,756,000 87,488 103,932 P. R. Mallory 24,441,022 24,506,709 864,221 1,074,321 Muter 4,172,531 4,132,740 104,561 72,701