Show Atlas Corp Successful h hAs I As Operating Company In Its first year as an operating oper opera sting company Atlas Alias Corporation Corporation Cor Cor- produced d net revenue revenue revenue reven reven- ue from operations of million equivalent to a common share before non non- C ca cash h charges for depletion depreciation and amortization and produced net income after all ch charges of 33 million or 25 cents a share the annual report for the year ar ended June 30 1963 Just reve revealed ted The report notes that Atlas At las is no longer an Invest Invest- merit company and that through acquisitions and mergers mergers mergers mer mer- gers made during the year ear it was able to sharply Improve its fiscal position According to the report port I sales sates and other revenues am- am amI I to million and non non cash cash charges against Income In- In Income In come were 10 million Due to the change in the nature of the company's business and chan changes s in accountIng accounting accounting account account- ing procedures direct comparison com com- parison with prior periods Is not practicable the report In In- In tes During the fiscal year debt and obligations were wera reduced reduced reduced re re- by over million and at year end the company had cash and equivalent aggregating aggregating aggregating ag ag- ag- ag 74 million The report notes notes' that the U. U S. S Circuit Court of Appeals Appeals Appeals Ap Ap- Ap- Ap peals had affirmed the order or order order or or- der of 01 the tire Civil Aeronautics Board approving the sale by Atlas of 01 stock and notes o of Northeast Airlines to Hughes Tool company for lor 5 million and and accordingly that Atlas expected to receive such amount amount amount am am- before the end of the current year In commenting on the yea years year's s results David A. A Stretch Atlas Atlas Atlas At At- las president said cash flow and earnings s fully lully met expectations expectations ex ex- Hons' Hons and should be equalled or exceeded in fiscal fis fiscal cal eal 1964 As a result he said th that t he anticipates a substantially sub sub- greater reduction in debt during the present fiscal fiscal fis lIs- cal year Mr Stretch also said that Atlas now owns two uranium mills to process con pany mined and purchased ore The company also treats ore for lor oth others rs under custom con con- tract Under extended extended contracts contracts contracts con con- tracts now under negotiation with the Atomic Energy Com Com- mission Atlas Alias can look took forward for lor- ward to a profitable ble uranium mining and milling business to o 1971 at least he said The shareholders were also told old that the company's asbestos ashes tos os project In California had California had passed assed the development stage and nd following completion of plant ilant additions this year as as- estos sates sales are arc expected to tomake tomake make maize significant contribution to o earnings Atlas Corporation is en raged in the mining and mill Ing ng of uranium and asbestos and in the production of oil and gas It also manufactures flexible metal and plastic hose and nd relates Items Hems and small hardware for lor aerospace and andA A Automatic u uta t o m a U c applications Through a wholly owned subsidiary sub it Jt provides maintenance ance and overhaul service for lor commercial and military aIrcraft aircraft aircraft air aIr- craft in the US U.S. and abroad and also atso acts as a broker and sales agent for lor aircraft engInes engines engines en en- gines and parts |