Word: fourth
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Dates: during 1950-1959
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Nowhere was the steel news brighter than at Bethlehem Steel Corp. President Arthur B. Homer of the nation's No. 2 producer (after U.S. Steel) disclosed that on top of earning $57,678,360 or $1.24 a share in the closing quarter of 1958, the second highest fourth-quarter profit in its history, the company was operating at 80% of enlarged 1959 capacity and planning to go to 85% next quarter. Said Homer: "We've been having quite an upsurge in orders. It looks as if January bookings will be the highest for any month in the last...
...fast are earnings picking up to match the recovery? From U.S. business last week came fourth-quarter reports that showed profits rising fast enough in many cases to offset the previous slowdown and turn 1958 into a fine year. After limping along 33% behind 1957 for the first nine months, Monsanto Chemical Co. reported the best fourth quarter in history, so good that full-year earnings totaled $1.55 per share, only 7.7% behind last year. Philco's fourth quarter nearly doubled last year's rate. Seeburg Corp. announced 54? a share in the first quarter of its fiscal...
...rise was equally strong in many a company that kept growing despite the recession. Raytheon Manufacturing noted a backlog of $280 million in unfilled orders, reported that a fat fourth quarter pushed 1958 earnings to $3.08 per share and a new record, 95% better than last year. Westinghouse. whose sales declined 5.6% largely because of the slump in appliances, had a better-than-good year: by working hard on a cost-control program, it managed to boost earnings to $4.25 per share v. $4.18 last year...
Some hard-hit industries were naturally taking more time than others to climb back to pre-recession levels. Yet even in oils, still beset by political troubles abroad and price problems at home, the fourth-quarter pickup was strong enough to cause Chairman K. S. Adams of Phillips Petroleum to predict: "If present trends continue, both gross and net income in 1959 will be the highest in the company's history...
...Fourth Quarter Year...