Word: nets
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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...
...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...
...Interior Departments have repeatedly asked for a domestic reserve capacity of 1,000,000 bbls. a day, "as a matter of national security," and carrying such reserve capacity is expensive. Perhaps the oilmen's best argument for the raise was that, despite the enormous expansion in refining capacity, net profits of the industry have gone up only 3.3% since...
Core of the indictment: Warner and his associates had traded "customers in & out, and in again, at frequent intervals . . . and at net losses to the customers." J. Arthur Warner & Co. had thereby indulged in the "fraudulent practice known ... as 'churning,' by means of which a large part of the customers' invested capital was taken ... in the form of repeated commissions, charges and profits...
...sell his sets. Furthermore, his markup is so low (only about 20% above cost) that his is one of the few sets whose "list" price discount houses can seldom shade. He built volume on a 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...