Word: nettings
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Dates: during 1950-1959
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...last week, when Bar reca formally opened a new $500,000 plant at Port Credit, Ont., Canadian Admiral had sold more than 16,000 TV sets and was the nation's biggest television manu- facturer. For 1950, its sales totaled $5,000,000 (up 92% from 1949), net prof its $308,000 (up 123%). The Port Credit plant, a shiny brick-and-glass structure on the mud flats, is turning out sets at a rate of 25,000 a year, and Barreca is ready to hike that to 50,000 on short notice. The first Canadian TV station goes...
...kept their eyes cocked anxiously on 1951's first-quarter earnings reports. Last week, as report after report told of alltime record sales and profits, it was clear that business had outperformed its expectations. Out of 176 companies which have reported so far, 135 had chalked up bigger net profits than in the first quarter...
...Bite. Nevertheless, the excess profits tax, added to a boost in thd corporate income tax, took such huge bites that even a tremendous increase in sales brought only a small rise in net profits. In the booming chemical industry, for example, Union Carbide & Carbon boosted sales 40% but profits rose only 6%, to $29,178,685. Many another company increased its gross but profits dropped. General Electric, with a new high in sales and pre-tax profits, wound up with a 5% drop in its net (to $34,996,395). International Business Machines did the same: its net slid from...
...larger steel companies were hit even harder by taxes. Republic's net slipped from $16,621,334 to $12,271,377, Armco's from $11,894,130 to $10,443,239. Yet the smaller steel companies, with a more favorable tax base, turned in some impressive rises. Wheeling Steel's net shot up from $2,998,696 to $5,043,744, and Barium Steel turned a $95,836 loss into a $1,875,509 profit...
Rearmament's Bulge. Rearmament's demands had also perked up many an industry, notably aluminum. Reynolds Metals net jumped from $1,454,257 to $5,696,031, a 300% rise. Big American Woolen Co., which has either a feast or a famine, watched its profits soar from a moth-eaten $230,000 to $1,095,000. And the once-sputtering airlines were purring like jets: American turned a $1,331,285 loss into a $2,914,610 profit. The building boom, nipped by restrictions on private housing, had merely shifted its base to the bigger boom of expanding...