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Show The Enterprise Review, July 28, 1976 Graphic Systems Inc. Fabric Retailer Strengthens; Management Changes Planned Fashion Fabrics Inc., broke even in the second quarter, made some (money) in the third and hopefully made some in the fourth, to James according Cedarquist, president and chief executive officer. The fabric retailer was forced to close seven stores in fiscal 1976 and plans to close two or three more this year while relocating several others. Cederquist said his fair company will report sales" for the year and the fourth quarter. Last year Fashion Fabrics had a net loss of $10.8 million on sales of $38.4 million and in the fourth quarter of 1975 the company posted a loss of $507,000 on sales of $6.4 million. Because final audits havent been completed, the company still has not determined how much money it w ill place in reserves for the future closing of stores, Cederquist added. The company expects a under capital budget of for fiscal 1977. $100,000 Cederquist said that the company has settled most of its problems lease-agreeme- nt and that settlements have been paid from reserves. Cederquist said that prices increased about 5 percent in 1976. The executive added that while he expected additional increases in fiscal 1977, the. increase probably would not be as high as earlier estimates except possibly for cotton fabrics. Price changes wont be as significant as they have been in the past," he said. Since Cederquist took over at Fashion Fabrics last 1930 West 2300 South Salt Lake City, Utah 84119 Telephone (801) July the company has ganized management and Agfa-Gevaer- budget in the past year. He said the advertising budget has gone from virtually zero to a fairly substantial amount." He also said the SPECIAL "OETER Lintless Cotton Pads 15 company still plans additional major management changes; he declined to be specific. .v. y 1 Graphic Systems is interested in quality. That is why we stock these quality lines: t, Eastman Kodak, Dupont, 3M, Brown, Pako, Dag E, Varn, Azoplate, Davidson, Royal Zenith, Baumfolder, and others. At Graphic Systems you will find highly qualified sales personnel, each with specialized background in the printing industry, and a service staff with many years of technical training and experience. Let Graphic Systems serve you. reor- renegotiated a new credit line. We feel weve made great strides" in the past year, he said. Cederquist added that the company has begun to go after the lower-pric- e market and has beefed up its advertising yk 487-479- . , off with coupon ' ; - 4x4 and 8x8 s. ' ' " ' V- ' . 's , V New Products Boost Drug Companys Sales Deseret Pharmaceutical volume during the fourth Co., Inc., has announced that quarter," he wrote. sales for third quarter of fiscal Net sales for the third 1976 were 49.1 percent higher quarter were $10,533,000, than for the same period a compared to $7,062,000 for third quarter last year. Net year ago. Third quarter earnings income increased from per share were 47 cents, $699,000 reported last year to compared to 23 cents for third $1,452,000 this year. Ballard reported that quarter last year. Nine month earnings were $1.21, com- notes payable to banks have pared to 53 cents for the same been paid off and an accumulation of cash has begun. period last year. This cash will be invested in to According to a letter shareholders, company presi- high grade short term securident Dale H. Ballard said little ties until other needs for its of the increased sales are due use arise," he wrote to to the newly introduced pro- stockholders. He added shareholders These products are ducts. in would now becoming established receive an increased a will from 25 cents to 28 be dividend and the marketplace, more meaningful part of sales cents per share this year. y When speed is necessary, a metropolitan airport isnt. If your time is valuable, driving to those places can be well as as arduous. Consider a charter from Thompson Flying expensive, out-of-the-w- ay Service. Within a Salt Lake City radius of 500 miles, well set you down in two and a half hours or less, in almost any spot where you have business. (There are over 700 airstrips within this radius; only 20 serviced by commercial airlines.) At Thompson, we consider metropolitan airports a luxury, not a necessity. Short notice, day or night-w- ell get you there fast. Call us today for rates. Your time is worth it. Thompson THOMPSON FLYING SERVICE. INC. 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Covered option writing continues to out perform the general market. The record shows that in the last 15 months stock buyers covered option writers averaged a gain of Option buyers continue to show average a lesser gain of heavy losses averaging 70 over the 15 month period. 23. 29; oei.c 4c 4c 4c 4c 4c 4c 4c 4c 4c 4c PHOTOTYPESETTING PC3C31: 322-333- 7 4c 4c 4c 255 West 800 SouthSolt Lake City, Utah 4c FREE PICKUP AND DELIVERY 4c 4c v! J " |
