Word: nettings
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Dates: during 1950-1959
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...Bite. In the electrical industry, for example, Westinghouse reported a 19% rise in gross (to $357 million) and a slight gain in net (to $16 million). Giant General Electric, on the other hand, had a slight decline in sales and a 20% drop in profits to $28 million. The profit drop, said President Ralph Cordiner, resulted from G.E.'s high proportion of defense orders, on which profit margins are small. In all cases, the impact of taxes was enormous. Radio Corporation of America managed to boost sales 22% to a record $142 million, but was able to hike...
...slump in textiles hit some companies hard. American Viscose (rayon & acetate yarns) saw its net almost halved to $3,400,000. Easing demand in the chemical industry had also shaved many earnings. Union Carbide's net was down 20% to $23 million, and DuPont's firsthalf sales were off along with its net ($2.12 per share v. $2.20 in 1951). On the other hand, fast-expanding Mathieson (TIME, July 21) racked up a 9% profit gain to $2,900,000, and drugmaker Parke, Davis, which has been able to turn a profit for 75 consecutive years, reported record...
Bright Spots. The brightest spots were among the airlines. United, cashing in on big gains from passengers (up 40%) and mail (up 30%) reported a net of $3,100,000 for the quarter, up 87% to a new record...
...earnings 47% to $3,900,000. The booming oil companies-which have increased earnings almost without a stop for years-were now having their ups & downs. Phillips Petroleum, Standard Oil (N.J.), and Atlantic Refining were up; Shell, hit by a strike at its Houston refinery, reported a half-year net of $19 million, down from $23 million...
...minute it came to market. With it, President Doan will continue the expansion program that made Dow the fastest-growing company in the fastest-growing U.S. industry. In the past six years, Dow has spent $441 million on expansion, quadrupled its sales to $410 million and its net to $36 million. Now fourth among U.S. chemical producers,* Dow plans to spend approximately $100 million a year for the next four years to carry on its expansion in such basic lines as chlorine, magnesium, ethylene, agricultural chemicals, drugs and Pharmaceuticals (Dow is the biggest U.S. bulk maker of aspirin...