Word: pretax
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Dates: during 1960-1969
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Elastic Rules. In one effort to limit such legerdemain, the Securities and Exchange Commission expects within a week or two to tighten the disclosure rules for companies seeking to float securities. Companies will be required in registration statements to divulge their sales and pretax profits for each line of business that contributes more than 10% to the total. Firms that engage in only one activity will have to abide by the 10% rule in showing sales by product or service. Though the new regulations will not apply directly to annual reports, many companies have already begun revealing operating data once...
...Trans World Airlines, depreciation changes converted what would have been an $11.5 million loss from airline operations into a $9.1 million pretax profit. TWA saved $20.6 million in current "costs" simply by spreading the depreciation of most of its planes over twelve or 14 years, instead of eleven years. Other income and credits, including $6.2 million from TWA-owned Hilton International, raised the line's reported net to $21.2 million...
According to a new Federal Communications report, industry revenues (largely sponsors' fees) rose by 12% to a record $2.2 billion; pretax profits increased by 10% to $492 million...
...contrast, TV stations themselves have fewer such costs and, sometimes, less "public service" conscience. As a result, the 15 network-owned stations netted $108 million last year before taxes -41.2% of gross earnings. The other 593 stations included in the FCC report turned a pretax profit of $306 million-29.6% of gross...
...packaging labels to polyethylene bottles and aerosol valves. But it is on the tin cans used for food, beer and soft drinks that Metal Box truly thrives. Thanks to high-powered marketing, the company accounts for 90% of Britain's food-can sales, has just announced record pretax profits of $38.1 million over the past fiscal year...