Show BUSINESS t tt t 1 I by WESSON'S VIEWING TIlE THE INDUSTRY Last year sales stIles of photographic equipment and supplies reached a level of 63 billion about nine percent above the 72 1967 average Aided by aggressive advertising advertising ad and promotion new products and advanced technology shipments may maywell maywell maywell well reach the billion 10 mark markby markby markby by 1980 This includes sales in inthe inthe inthe the professional commercial and industrial areas plus those in the amateur photographic market about 40 percent of total business There is no doubt but that taking laking pictures is still one of the nations nation's favorite time leisure activities Lagging Leaders Even though overall photographic sales advanced well last year the two industry giants Eastman Kodak and Polaroid were not so successful successful suc sue in terms of earnings The economic recession the downturn in consumer spending and higher operating costs coots all combined to hamper progress In the first half haIC of this year Kodak's profits continued to deteriorate Polaroid did experience experience ex ex- ex- ex gains partly because of dealer restocking and better sales of its 70 and Super Shooter lines In the third quarter as the economy recovered somewhat more rapidly both companies reported solid gains Polaroid's earnings in the three months ended with September were up percent from the similar year-earlier year period and Kodak's were 14 percent higher This brought Kodak's nine- nine months profits only even with the year previous while Polaroid's were almost double i Good Term Near-Term Prospects Obviously consumers hold the key to the performance of Kodak and Polaroid in th then thet l coming months At the moment it appears that consume confidence has improved and that there is more willingness to go into debt l j t dIf ri rf If consumer buying does move sharply upward and if ift t the Christmas season is a good goodone one one both these photographic leaders as well as others in the field should certainly benefit In addition foreign business which is substantial should improve as other countries emerge from their economic downturns Therefore it would seem that tha t both Eastman Kodak i 1 t. t and Polaroid should enjoy lively business for the remainder of off this year and into 1976 New Products v i Have Potential ij j jAs As in the past new product developments should keep the photographic industry in a long long- 1 term growth trend Owing tot toj extensive and usually fruitful t i research a wide array of additional ad ad- f. ad-f. f. f new items or on ors refinements on established products are likely during the remainder of the present decade and beyond j t IFor For example in the too not distant future Eastman Kodak is expecting to introduce an instant camera that will rt n compete with Polaroid's products while the latter company appears well along in m mits its efforts to market an instant instant in stant slant motion picture camera When these items are available they should give their companies companies com com- panics a big boost Among other innovations Kodak has developed a plain paper duplicator copier which has favorable potential Up to this time however there has been definite lr information no on i I. I just when this product will be put on the market When it docs does it should emerge commercially considerable attention get J i. i Called it will be Le capable of turning out copies an hour It is claimed too tha t it will be competitive in price with Xerox and IBM 1 copy machines At the current time the Research Department of Babson's Reports is not suggesting purchase of issues issue inthe in m the photographic field Eastman Eastman Eastman East East- man Kodak which was was was' Y recommended at far lower oj levels continues to merit our hold advice as does h rf I Polaroid These two two- outstanding out nut standing companies probably account for as much as 90 00 of the total percent amateur film market t The stocks of some of theother the theother other Jess less prominent concerns may also be retained by in these would include Bell Howell GAP Minnesota Mining Manufacturing and Technicolor |