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Show The National Enterprise, April 27, 1977 Page four U & 1 1976 earnings depressed by troubled sugar market U&I Incorporated reported net earnings of $5,542,318 for the fiscal year ended Feb. 28, 1977. Rowland M. Cannon, president and chief executive officer, commented that the tively high' level of earnings for the fiscal year was due to a credit to cost of sales rather $199,965,391 a year ago and than from operations during the year. fore that. Although the earnings figure was one of the higher levels old reported by the food processing firm, it was record of far below the e $10,675,022 reported last year in the aftermath of the high sugar prices of 1974. sugar market has been extremely depressed since last fall, and the domestic sugar industry has been selling below its cost of production. Markets for raw agricultural products also have been low, but sales volume of frozen potato products has been good and price levels improved. However, he said the rela 86-ye- ar all-tim- Dollar volume of sales during the fiscal year amounted to $183,460,383, compared with Northwest notes records in sales and earnings Northwest Energy 1976 over the same period for 1975. Northwest chairman (OTC and its subsidiaries recorded earnings for the fiscal year ending Dec. 31, of $22.8 million, or $5.33 per share, on revenues of approximately $626 million. All three figures, income, revenue and earnings per share, represent record marks for the Utah 16.50, 17.25) 111 the all-tim- e record $237,429,801 of the year Option Market News Ketcham, Ph.D. Prince, Langheinrich & Greer by Warren of M. be- Earnings per share of common stock and common stock equivalents for the fiscal year amounted to $2.36, which on a fully diluted basis would be $2.27. The comparable figures for last year were $4.60 and $4.34 and for the year preceding that $2.39 and $2.30. In addition to sugar factories located in Washington, Idaho and Utah, U and I is a majority stock owner in a potato processing company with two factories in Oregon and is involved in large scale irrigated farming in Washington and Idaho. After rising every day the week before, the market fell every day, except one, last week, losing over 20 points on the Dow Industrials. Quarterly reports are pouring in, tending to buffet stock and option prices severely. Two examples of the good and bad Teledyne moved from 58 to 66, with the July 60 options increasing three times; Eastman Kodak dropped from 66 to 61 with the July 60 options halving. Last week I wrote that the market should turn higher in the next few weeks. I still sbuscribe to that thesis in spite of a bad last week. I will change my opinion on this subject if the 912 level on the Dow is penetrated. Polaroid should get some good action this week. First, it is reported that Polaroids competition, Eastman Kodak, is losing money on its instant camera. Second on April 26th, Polaroid is to demonstrate its instant motion picture camera. At 32, the stock is a good buy and good option writing candidate. The October 35 calls at 2 are also a good speculative buy. John McMillian attributed the jump to increased gas sales volumes for the quarter, created by availability of additional gas from Northwest Pipelines Canadian supplier. Issuance of 795,000 shares of Northwest common stock in December, 1975 diluted earn- company. ings per share for 1976. But Northwests board of directors declared a quarterly cash dividend of 62.5 cents per share for the quarter on the companys $2.50 cumulative preferred stock payable April 1 to stockholders of record on Revenue increased by 29 percent over 1975s previous record of $482.6 million and profits improved by 13 percent over the prior years profit of $22.5 million. Consolidated earnings also increased in fourth quarter of Garapg9 March 18. OMgQflS 9 o Singular designs in plants and cut flowers. Convert your bad paper into working cash! NO COLLECTION - NO CHARGE CHARGE ACCOUNTS ACCOUNTS RECEIVABLE BAD CHECKS REPOSSESSIONS OUTSIDE COLLECTIONS Instant Collection Service - Immediate Remittance Reasonable Rates v BEEHIVE COLLECTION SERVICE 2161 REGENT STREET SUITE 8 PHONE 486-937- 5 1314 Foothill Drive Delivery Service 583-311- 3 |