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Show The National Enterprise , March 2 . 1977 Page two Communications Firm Plans $4 Million Cable TV Project AUSTIN Communications Properties, Inc., (OTC 4.25, 4.625) plans to proceed with construction of a $4 million cable television system in the Hartford, Conn, area sometime this summer. The project is still pending approval of the Connecticut Public Utility Control Authority. Ben Conroy, executive vice president of the Texas company, said the PUCA has already approved the companys acquisition of stock giving CPI 90 percent ownership of the Hartford area franchise. The company will meet with CUPA officials next month to seek approval of construction contracts and approval of a $3.67 million loan from Hartford National Bank. Conroy said the company hopes to have final approvals in April and begin construction early this the Hartford project. RCA has also agreed to supply the cable amplifiers and all electronic components and act as general contractor for the project. Phase one, which includes sections of east and west Hartford, will connect approximately 32,653 residents with 300 miles of TV cable . Completion of the second and third phases of the television projects, connecting parts of Hartford, Winsor, Simsbury, and Bloomfield, will depend on whether or not the company acquires the projected number of cable TV subscribers in the Phase One area, Conroy said. The system will have a 35 channel capacity, he said, and employ about 50 people in the Hartford area. CPI is the eighth largest cable TV operator in the U.S. and serves 270,071 subscribers in 11 states. summer. The electrical industrial engineering division of RCA will build the first phase of The National Salt the National Interpriie PubKth-in- g Eaterprie it paMiihed weekly by P.0, lei 11771. Pioneer Station. 500 Continental lank Bldg.. Company, be, lake Gty, Utah B4I47. (101)533-055- 6 Second Class Postage Paid holders, Alta Industries (OTC 6.00, 6.76) a wholesale distributor of steel, records and hardware, reported increased revenue, earnings and earnings per share for the 1976 fiscal year, ending Dec. 31. Sales moved from $45 million in 1975 to approximately $50.4 million in an increase of 12 percent. Earnings for the 1976 fiscal year were $1.6 million, up 27 percent from 1975s earnings of $1.26 1976, million. increase in gross sales and a decrease in the number of shares outstanding contributed to a 91 cent increase in earnings per share, from $1.5l in 1975 to An $2.42 in 1976. Warren King, vice president and secretary said approximately 169,000 shares of common stock were purchased by the company in 1974 thereby dropping the total number of outstanding shares from approximately The 828,000 to 659,000. stock buyback was initiated through a tender offer of $6.25 per share beginning in g December 1974 and in February 1975. consu-matin- three sales catagories (records, steel, and hardware) remained basically in 1976, King unchanged said. In 1975, record sales accounted for approximately 47 percent of the companys Steel total gross revenue. sales contributed to 32 percent of revenues and hardware, once the mainstay of Altas sales, held approx- imately 18 percent of total sales. Contrastingly, records accounted for only 33 percent of Altas revenues in 1971, one year after the record division was added to the companys multi-revenu- e That same year, hardware sales were the largest single source of revenue with 53 percent and steel accounted for only 11 percent of revenue. The gradual change in revenue sources was a result of shifting profit margins. Records now require a smaller investment and yield a greater percentage of return, King said. operation. Croff Oil Reports Drop Revenue, Earnings Down SALT LAKE CITY Croff Oil Co. (ISE .17, .19) has released an unaudited statement showing a 43 percent decrease in earnings and a 7 percent drop in revenues for the first nine months of fiscal 1976 (year ending Dec. 31). The 70 year old natural . resource investment company, reported gross revenues of $120,265 and earnings of $33,857 for the first nine months of 1976. Both revenue and profit are lower than 1975's revenue of $128,863 and earnings of $77,330. The company attributes the decrease to a drop in oil production in Utah's Greater Altamont Field and the congressional rollback of new crude oil prices last Febru- Salt lake City, Utah Alene Bentley Editor Dean Alsup, Mary McMillan Gaber, Jo Schneider Staff Writers Peter Harrison Kristopher R. Passey Advertising Manager Production Manager Man The companys offer was a result of shareholder dissatisfaction, because of the low trading price of the stock, King said. The proportion of sales from each of the companys m R. George Gregersen Publisher Sales Up, Alta Says, Earnings Better Yet SALT LAKE CITY In an unaudited report to share- 50 Cents Per Copy Subscriptions $24.00 per year mmiAMf ESaas? A recent study shows that an overwhelming majority of Americans have faith in our economic system. Only a small number favor major changes. Yet, 92 feel some modifications are needed. In the months and years ahead, we're all going to be called upon to make great decisions as our American Economic System adjusts to new conditions. The more we all know about our system, the better we can decide what to preserve, what to change. To help give you I1 a clearer picture, a q special booklet has been prepared. It's easy to read, interest ing and free. Every American ought to know what it says. The American Economic System. Its one of your basic freedoms. Booklets, P.O. Box 1887, New York, N.Y. 10001 Please send me a free copy of the booklet about our economic system. I would also like a copy of the survey highlights. Name Address ary. spokesman for Croff said the company is expecting increased royalties from holdings in Utahs Greater Aneth oil production region. The Greater Aneth field has been one of the states major A oil producing regions. .State. City SxS VW; 'S' A so .Zip. message of The Advertising Council and U.S. Department of Commerce presented by this Magazine. |