Word: gross
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Dates: during 1950-1959
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Typical of the good news was Douglas Aircraft, whose stock jumped 3⅛ points in a few hours after the earnings statement was released. Reason: net profit for the six months ended May 31 was $10,042,975 on sales of $459 million; both gross and net were more than double those for the same period a year ago. The quarterly dividend was boosted from 75? to $1, and an extra dividend of $1.50 was declared. Though President Donald Douglas warned that the rest of the year might not be so good, the stock edged up another 1⅞ points...
CALIFORNIA'S mushrooming electronics industry, grown in ten years from 30 companies doing $25 million to 186 that will gross $700 million this year, expects its annual sales to reach $1 billion...
...Gross national product (value of all goods and services) in the second quarter was at an annual rate of $368 billion, highest on record, v. $361 billion in the first quarter and $346 billion for all of 1952. CJ Consumer spending, at an annual rate of $226 billion in the first three months, climbed to a $228 billion rate in the second quarter...
...even more spectacularly than they have the promoters'. Los Angeles' $100 million Lakewood Center, opened two years ago but only one-fourth finished, already rings up about $50 million in annual sales. San Francisco's Stonestown (see cut), one year old this week, is expected to gross $30 million annually by the end of next year. Not only do many of the stores average more business per square foot of floor space than their best in-town competition, but with 10-14% lower operating costs, they also net a much higher profit...
...slim profit; last year's $49.9 million sales yielded only $691,657 net, after taxes. Nobody knows whether Muntz will survive when competition gets tougher, but everybody knows that he will at least make it interesting. Confidently, Muntz himself predicts that air conditioning will double his present gross in two or three years...