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Show Atlas Records Turn-Around In Profits During 9 Months A dramatic turn-around in income was noted during the nine-month period ending March 31 by Atlas Corporation, Corpora-tion, a release from New York indicated this week. During the period, Atlas recorded a net income of $3,459,496. This compares with a loss of $739,639 for the same period a year ago. Sales and other revenues for the nine months rose to $39,989,-504-up from the $34,361,399 recorded the previous year. . Edward R. Farley, chotnnan and president of the board, stated that the company's uranium ore reserves have been expanded because of continued exploration and increased uranium prices, and that the "long-term picture for uranium, both as to demand and prices, continues to be promising." He said that the market price for uranium concentrate has continued to rise. The first sales of vanadium produced at the Atlas Moab processing mill were made in the third fiscal quarter and, except for relatively normal break-in problems, the new uranium-vanadium circuit at the mill is "operating well," Mr. Farley said. Mr. Farley attributed the company's improved earnings performance to increased uranium sales, a continued strong performance by Atlas' Titeflex Division and an "unanticipated profit turnaround turn-around by its Brockton Sole and Plastics Division. The only Atlas Division currently experiencing ex-periencing "significant difficulty" diffi-culty" is the company's Camden Lime Company Division, Divi-sion, whose operations are directly related to the domestic construction industry. Mr. Farley said that the industry is still "depressed" in the geographic area in which Camden operates. Atlas showed show-ed a net loss of $244,885 for the quarter ended March 31, 1976, due principally to ' reduced sales at the Camden Division, and low prices received during the quarter for previously-contracted deliveries deliver-ies of uranium concentrate. Atlas, of New York City, is a diversified mining, manufacturing manufact-uring and services company. It is one of the nation's leading producers of uranium, which is all processed at its Moab mining and milling division. |