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Show Billings SOMMER The story goes on to explain the various name changes of Capital Furniture from the Kipper Corp. to Billings Energy Research in 1973, but declines to mention that Billings was never associated with either Kipper or Capital, and merely merged its private company into the defunct but public Capital COLOR PRINT SPECIAL With This Coupon $1 Laytners article was Quoting from 1976 financial data, Barron 's placed Billings earnings from contracted research at $288,000. But to date this year, Billings has 534-110- present. Its Roll with the punches PHOTOGRAPHIC LABORATORIES 1 433 EAST BROADWAY . S.L.C. UTAH 84111 . earned over $2 million from research contracts. Laytner was technically accurate (as was Barron's) since his story merely said the company earned over $2 million from such work, neglecting to say, however, the earnings were accumulated from 1973 to Confused sales with earnings order to become public, fumed Richard Hartley, Billings vice president of adAs far as the ministration. treatment we received from Barron's , Id have to say it was unfair and apparently done without sufficient .50 1 Furniture. very common to merge a private company into an old public company in Limit: Three assorted prints per coupon Coupon void after Sept 31,1 977 Shipping and handling, minimum charge: Continued from page aproximately $1.1 million worth of contracted research completed or in the works. Laytner, on the other hand, said the company had replete with error, accordWe told ing to Billings. Laytner we expected sales from our computer division to be somewhere between $1 and $3 million this year(77), He apHartley recalled. parently chose to use the higher figures and then confused sales with earnings and misinterpreted past with future tense. We clearly said we expect to earn that much. We obviously had never earned that much before. Unfortunately, or fortunately depending on how you look at it, Laytners article appeared coast to coast in newspapers like the Boston Herald American, Chicago Sun Times, San Jose Sunday Mercury News, and the Birmingham News. All these newspapers perpetuated the inaccuracy of the article, Hartley said. Only the Mercury News bothered to check the facts. . Billings dream Hartley said Laytner himself visited the company early in the second quarter of the current fiscal year. At that time, the companys computer division was only five months old, and computer sales totaled a fat goose egg. Hartley speculates confusion of the facts, moved him to write, wholly-owne- d by Billings Energy Corp., the little in its first computer Data-Byt- e year has earned more than $3 million and could help make the dream of Roger Billings (president and founder) come true. In fact, Roger Billings does intend for the computer division to generate enough profits to temporarily sub- sidize hydrogen fuel re- search and related projects of the parent company. Thanks to the computer division, the company turned in consolidated financial statement in the fourth quarter of last year with the first black entry since the companys incept- ion. RESULTS. Hinckley Advertising, Inc. 300-Kearns Building Salt Lake City, Utah 84101 Telephone 364-211All Media Full Service Agency Member Utah Association of Advertising Agencies A 2 |