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Show The National Enterprise, July 7, 1976 Page Twelve Economic Recovery and Parred Costs Double ERB Earnings BIRMINGHAM, Mic- h- ERB Lumber Co fOTC 4.25, 5.00) reported income from continuing operations of $704,000 ($.51 per share) for the year ended December 31, 1975, more than double the ($.24 per share) recorded for the prior year. $330,000 xtWurraton An Active Exploration Company Interested In Gold Prospects 1975 ANNUAL REPORT available upon request P.O. Box 10622 Reno, NV. 89510 Revenue of $45,076,000 in 1975 was down slightly from the 1974 figure of $45,670,000. ERB attributed the increase in income during 1975 to the continuing strong performance of the company's retail division, partial recovery of housing starts in the singlefamily market, effective cost reduction efforts and progress in resolving the problems in its real estate division. ERB's roof truss manufacturing operations in Miami, Florida were sold during 1975. The loss from discontinued operations amounted to $.10 per share in 1975 and $.01 per share in 1974. ERB expressed confidence in continued improvement of profitability in 1976, citing the December acquisition of six retail building supply centers operating under the name of Mr. Plywood" in Denver, Colorado Portland, Oregon; and Seattle, Washington; giving the Company seventeen retail outlets with a broader geographic coverage. Tele-Co- m Fights Back ,e rfe wtftawm) deemia cotwtae v Continued from page eleven would have to reach 30 percent before new capital could be attracted. For the near future, he continued, the company is trying to maintain restraint on its new capital investments. The gains in revenues for the microwave subsidiary, he told shareholders came from rate increases allowed the firm by the Federal Communications Commission. The company has another rate increase application filed. Shareholders directors and approved a new employee stock option plan for the firm. re-elect- ed An Interview with Adam Smith Continued from page ten in Europe scarce feel. For further information please call James Barrett, Chairman. Area Code 20il 350-1229. From shopkeepers, tradesmen, and attorneys they are become statesmen and legislators and are employed in contriving a new form of government for an extensive empire, which, they flatter themselves, will become, and which, indeed, seems very likely to become, one of the greatest and most formidable that ever was in the world. REASON: And on that note I think we will close. Thank you. Dr. Smith. Youve been a most delightful guest. First Lombard Corporation Investment Bankers Reprinted with Permission, July 1976, Reason Magazine. 1976 by Reason Enterprises, P.O. 40105, Santa Barbara 93103. Salt.Lake City Idaho Falls |