Weekly television digest (Jan-Dec 1963)

Record Details:

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12-TELEVISION DIGEST OCTOBER 14, 1963 These are latest reports Financial Reports of TV-Electronics Companies as oblained 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 GE ?963— 9 mo. to Sept. 30 $3,606,459,000^ $392,467,000 $192,400,000^ $2. 14 90,096, 748 Story below L962— 9 mo. to Sept. 30 3,483, 153,000 370,459,000 179,495,000 2.01 89,521,886 1963— qtr. to Sept. 30 1, 209, 101,000l — 66, 280, 000 ■74, 90,096,748 1962— qtr. to Sept. 30 1,164,317,0002 — 59, 518,OOo2 .67^ 89,521,886 General 1963—6 mo. to Aug. 31 47, 121, 239^ 861,683 508, 183 .20 2,570,401 Instrument 1962—6 mo. to Aug. 31 41, 194, 131 477, 609 355, 309 . 14 2,565,401 Story below 1963— qtr. to Aug. 31 22, 938,0871 332, 503 257, 503 . 10 2,570,401 1962— qtr. to Aug. 31 20,005,693 153, 259 153, 259 .06 2, 565,401 P. R. Mallory 1963—9 mo. to Sept. 30 73, 680, 668 6, 261,368 • 2, 948, 475 1.81 1,621, 113 1962—9 mo. to Sept. 30 73, 957,409 6,587,099 3, 192,401 1.96 1,621, 113 1963— qtr. to Sept. 30 23,610,621 2,164,571 1,001,893 .61 1,621,113 1962— qtr. to Sept. 30 24,878,915 2, 253,048 1, 142,022 .70 1,621, 113 Metromedia 1963—39 wks. to Sept. 29 45, 680,000^ 2,310,000^ 1.28 1, 746, 464 1962—39 wks. to Sept. 30 38, 200, 266 — 1, 292,691 .72 1, 707, 682 . 1963 — 13 wks. to Sept. 29 17, 700,000 — 472, 000 .26 1, 746, 464 1962—13 wks. to Sept. 30 11,993,434 — 271,036 . 14 1,707,682 RCA 1963—9 mo. to Sept. 30 1,314,000,0001 91,700,000 44, 200, 000 1 2.40 17,390,000 Story (11 p. 11 1962—9 mo. to Sept. 30 1,265,500,000 69, 900, 000 34,300,000 1.88 16,947,000 1963— qtr. to Sept. 30 436, 700, 000^ 30, 800, 000 14,800,000^ .80 17,390,000 1962— qtr. to Sept. 30 411,600,000 21,300,000 10, 300, 000 .56 16,947,000 Raytheo; 1963—9 mo. to Sept. 30 364, 398,000 — 4, 962, OOO'* 1. 15 4,125,238 1962—9 mo. to Sept. 30 440, 884, 000 — 7,819,000 1.89 4,011,326 1963— qtr. to Sept. 30 109,573,000 — 1, 303, 000 .30 4,125,238 1962— qtr. to Sept. 30 128, 125,000 — 2,483,000 .60 4,011,326 Wrathtr Corp. 1963— year to June 30^ 13, 180,000l — 899, 296^ .51 — 1962— year to June 30 12,000,000 — 593,341 .34 — 1 2 Notes: Record. Voluntary price adjustments arising from sale of products involved in 1961 anti-trust cases had effect of reducing earnings by $3. 7 million (4^5 a share), sales $7. 8 million. ^Outstanding Sept. 30, 1963, reflecting conversion of 5% series A preference stock March 1963 and 2% stock dividend Dec. 1962. '^Before special $3, 550,000 (81^ a share) charge for phasing out East Coast semiconductor operation (Vol. 3:10 plO). ®Does not inchde A. C. Gilbert toy company, 51% owned by Wrather. GE*s defense business slipped below year -earlier levels but more-than-compensating "sales strength in consumer goods, industrial equipment and international shipments" pushed 9 -month s^es & earnings to record levels, Chmn. Ralph J. Cordiner announced (see financial table). Earnings in first 3 quarters rose 7% to $192. 4 million on 4% sales gain to $3. 606 billion. Thirdquarter earnings jumped 11% to $66.3 million on 4% sales rise to record $1. 209 billion. Cordiner also noted a "general firming of prices in the electrical equipment and appliance market," termed it "one of the most favorable developments of 1963. " Manufacturers' excise taxes for TVs, radios, phonos, & components rose to $184, 220, 000 in fiscal year ended June 30 from $173, 024, 000 in preceding year. Internal Revenue Service also reported that taxes for these products in April-June period rose to $47, 305, 000 from $43, 971, 000. Total excise taxes increased in 1963 fiscal year to $5, 610, 309, 000 from fiscal1962' s $5, 132, 949, 000. "Heightened rivalry throughout electronics field suggests that future profits growth will be much more difficult to achieve than sales expansion," noted "Financial World" in Oct. 9 analysis of "Electronics— Deflated Group." Emphasizing that postwar period witnessed "speculative orgies in a large number of stock groups," magazine declared: "Undoubtedly, the biggest boom and bust of them all has occurred in electronics. . . Although most electronics issues have lost their luster and are well deflated, few appear to be much of a bargain even at current levels." General Instrument continued comeback from loss sustained in 1963 fiscal year ended Feb. 28 (Vol. 3:22 pl2) with record sales and sharply increased earnings in fiscal1964' s first half and September quarter (see financial table). March-Sept, profit climbed to $508,183 from $355, 309 a year earlier on 14% sales gain to $47. 1 million. Chmn. M. H. Benedek attributed improvement in part to increased shipments of uhf TV tuners to set manufacturers.