Printer Friendly
The Free Library
23,421,980 articles and books


BIZWATCH : MARKETS.

MARKET LOGIC: Smaller-company stocks coasted to another record high Tuesday, but efforts to revive the blue-chip sector fizzled again amid nagging worries about company profits and inflation. The Dow Jones industrial average was up nearly 64 points about an hour before the close, but rose just 16.73 to 7,851.91.

MEMO

FOX SUES YAPP FOR LEAVING: 20th Century Fox has filed suit against Jeffrey Yapp over his decision to resign as president of its home video operations to join video retail chain Hollywood Entertainment. The studio alleges that Yapp, who was named to the Fox post less than four months ago, has violated an exclusive contract with Fox into October 1999.

SUMMA SECURES FINANCING FOR CALANETICS DEAL: Summa Industries, a Torrance-based manufacturer of industrial components in the firefighting, aerospace and manufacturing sectors, said Tuesday it had received a letter of commitment from an unnamed commercial bank to finance its $22 million purchase of Chatsworth-based Calanetics Corp. Securing the financing was one condition Summa named as necessary before it could buy Calanetics, which also makes plastic components.

PARSONS WINS $250 MILLION CONTRACT: Pasadena-based Parsons Corp. won a $250 million contract to design and build a power plant at the Delaware refinery of Star Enterprise, a joint venture between Texaco and the Saudi national oil company. A builder of industrial plants, Parsons said the three-year project will create 500 jobs in Delaware.

ITT GILFILLAN GETS $40 MILLION CONTRACT: ITT Gilfillan, a Van Nuys-based maker of radar systems and a unit of ITT Industries, won a $40 million radar contract from the South Korean Defense Procurement Agency. Gilfillan will produce and install air traffic control and air defense surveillance systems for the Republic of Korea Army and Air Force.

?13Daily News

EARNINGS

dick clark productions

Burbank-based programming supplier

June 4th Qtr. 1997 1996

Sales $23.07 million $18.76 million

Net Income $1.05 million $646,000

Net Per Share 13 cents 8 cents

Year End 1997 1996

Sales $66.13 million $73.82 million

Net Income $6.51 million $5.6 million

Net Per Share 78 cents 68 cents

Earnings rose because of higher profitability of TV series production.

Ticketmaster Group Inc.

Los Angeles-based computerized ticketing service

July 2nd Qtr. 1997 1996

Sales $81.7 million$53.2 million

Net Income (loss) $1.98 million ($439,000)

Net Per Share 8 cents (3 cents)

Six months 1997 1996

Sales $158.7 million $100 million

Net Income $3.9 million ($2.4 million)

Net Per Share 15 cents (16 cents)

Profit increase was because of strong results in core business.

CAPTION(S):

2 Charts

Chart: (1--color) DOW INDUSTRIALS

(2--color) BIZ FACTS

South of the border
COPYRIGHT 1997 Daily News
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Business
Publication:Daily News (Los Angeles, CA)
Geographic Code:1USA
Date:Sep 10, 1997
Words:444
Previous Article:DUMPING OF DIRT STIRS COMPLAINTS; INDIAN BURIAL SITE, RIVER FEARED THREATENED.
Next Article:BIG STEP FOR POLYGRAM; `GAME' FIRST BIG-BUDGET FILM.
Topics:



Related Articles
BIZWATCH : MARKETS.
BIZWATCH : MARKETS.
BIZWATCH : MARKETS.
BIZWATCH : MARKETS.
BIZWATCH : MARKETS.
BIZWATCH : MARKETS.
BIZWATCH : MARKETS.
BIZWATCH : MARKETS.
BIZWATCH : MARKETS.
BIZWATCH : MARKETS.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters