Word: quarterly
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Dates: during 1940-1949
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...Volume. The steel industry expected its earnings to be down also, because of rising material costs. Republic Steel, first of the big steel companies to report, showed a 21% drop in its net to $9 million. U.S. Steel estimated that its first-quarter profits would be "lower" also. Nevertheless, it thought it good policy to cut its prices last week (See NATIONAL AFFAIRS...
...liquor, chemicals, textiles and building materials, profits improved almost without exception; utilities and food packaging were not far behind. In most cases, profit margins were no higher than last year, but volume was up. Some typical nets: $23 million for Union Carbide & Carbon Corp. (up 20% over the first quarter of 1947); $1.5 million for National Gypsum (up 15%); $2.1 million for Wm. Wrigley...
General Electric's C. E. Wilson found that his price cuts last January had not hurt him at all, because business volume had increased. G.E.'s net of $25.3 million was a whopping 42% over 1947's first quarter. In fact, Charlie Wilson thought he could afford to cut prices again, saving his customers $10 million a year...
Down Prices? Westinghouse Electric Corp.'s President Gwilym Price took a hard look at his books, and cut prices also -a $3.1 million saving for customers. Westinghouse's first-quarter net of $13.1 million was up nearly 20% above last year. More than that, said President Price, new orders booked in the first quarter this year were higher than in any other peacetime quarter...
...another bigwig agreed with Price that the boom seemed solidly shored up by orders. Blaw-Knox Co. (makers of industrial equipment), whose net was up slightly, said that its backlog was "not only the largest in the company's peacetime history, but well diversified." Montgomery Ward, whose first-quarter profits (an estimated $24 million) were up 18%, said that its entire capital was "at work in the business" for the first time since September...