ABC-American-Broadcasting-1975-Annual-Report.pdf

(3947 KB) Pobierz
BUSINESS
INF.
BUR.
mies,
Inc.
Annual
Report
1975
CORPORATION
FILE
CLEVELAND
PUBLIC
ÜB**'«'
BUSINESS
INF.
BUR.
American
Broadcasting
Companies,
Inc.
Annual
Report
1975
CORPORATION
FILE
Financial
Highlights
1975
$1,064,648,000
1974
Revenues
$
986,040,000
$
Net
earnings
$
17,096,000
.99
.80
49,945,000
2.92
Earnings
per
common
and
common
equivalent
share
Dividends
per
share
Average
common
and
common
equivalent
shares
$
$
$
$
.80
17,129,000
17,235,000
17,289,000
$
166,556,000
Outstanding
shares
Property
and
equipment,
net
17,137,000
$
168,567,000
$
621,368,000
$
235,999,000
2.5
Total
assets
Working
capital
Current
ratio
$
697,811,000
$
322,656,000
3.2
Long-term debt
Stockholders’
equity
Stockholders’
equity
per
outstanding
share
$
194,418,000
$
338.882,000
$
105,705,000
$
333,132,000
$
19.60
16,945
$
19.44
Stockholders
of
record
at
end
of
year
17,568
Contents
1
Financial
Highlights
2
To
Our
Shareholders
5
Operating
Review
5
Television
12
Radio
15
Recorded
Music
19
Publishing
19
Theatres
20
Outdoor
Attractions
20
Other
Businesses
21
ABC
Dimensions
25
Financial
Guide
28
Financial
Review
and
Management’s
Discussion
and
Analysis
of
the
Summary
of
Operations
30
Lines
of
Business
31
Consolidated
Summary
of Operations
32
Consolidated
Financial
Statements
and Notes
41
Accountants’
Report
41
People
at
ABC
42
Directors
and
Officers
To
Our
Shareholders:
The
year
just
passed
was,
financially,
a
very
disappointing
one
for
American
Broad­
casting
Companies,
Inc.
After
our
record
performance
in
1974,
our
earnings
in
1975
dropped
to
$17.1
million
or
$.99
a
share
despite
an
increase
in
revenues
to
a
new
record
level
of
$1.06
billion.
During
the
year,
we
faced
a
need
for
prompt
and
major
improvements
in
net­
work
television
programming;
for
the
restructuring
of
our
recorded
music
com­
pany;
and
to
end
the drain
on
our
earnings
by
the
Wildlife
Preserve
in
Largo,
Maryland.
These
tasks
were
neither
easy
nor
inexpen­
sive,
but
they
had
to
be
undertaken.
We
did
so,
and
because
of
our
work
in
these
areas,
ABC
began
1976
in
a
measurably
stronger
operational
condition
than
it
began
the
previous
year.
The
difficulties
we
confronted
internally
were
compounded
by
the
state
of
the
American
economy,
which
has
not
experi­
enced
a
year
as
difficult
as
1975
in
more
than
a
generation,
a
large
factor
in
the
de­
cline
of
our
earnings.
Every
division
of
ABC,
regardless
of
its
performance,
felt
either
the
drag
of
recession
upon
its
sales,
or
the
pressure
of
inflation
upon
its
costs.
ABC
Television
has
now
recovered
from
the
substantial
audience
decline
of
the
last
quarter
of
1974,
which
affected
sales
of
both
the
ABC
Television
Network
and
the
ABC
Owned
Television
Stations
throughout
1975.Though
network
costs
are
still
a
major
factor,
particularly
in
an
election
and
Olympic
year,
a
strong
network
schedule
and
a
robust
advertising
marketplace
pres­
age
a
much
improved
year
for
both
network
and
stations.
ABC
Radio
had
a
record
year
in
both
sales
and
profits.The
ABC
Radio Network,
the
AM
stations
and
the
FM
stations
all
re­
ported
gains,
with
the
FM
stations
becom­
ing
profitable
as
a
group
for
the
first
time.
ABC
Records,
after
a
year
under
new
management,
continues
its
planned
change
of
direction.The
refinement
of
its
artist
roster
and
improved
controls
give
it
a
sounder
base
upon
which
to
build.
ABC
Record
and
Tape Sales,
our
recorded
music
distribution
arm,
experi­
enced
cost
pressures
during
the
year,
but
completed
the
reorganization
needed
for
its
future
operations.
Word,
Inc.,
our
religi­
ous
music
and
publishing
company,
also
strengthened
its
operations.
ABC
Farm
Publications,
buoyed
by
ad­
vertising
gains
and
the
sale
of
insurance,
had
an
excellent
year.The
ABC
Leisure
Magazines,
like
most
special-interest
publi­
cations,
showed
lower
results
due
to
general
economic
conditions.
ABC
Theatres’
revenues
rose,
but
cost
pressures
reduced
operational
profits
to
below
1974
levels.
Among
the
ABC
Scenic
and
Wildlife
Attractions,
Silver
Springs
and
Weeki
Wachee
were
solidly
profitable,
but
the
Historic
Towne
of
Smithville
posted
a
modest
loss
while
being
revamped
to
meet
our
operating
standards.The
Wildlife
Pre­
serve,
after
two
years
of
losses,
was
written
down
to
its
estimated
market
value
and
will
not
be
operated
in
the
future
by
ABC.
The
growth
of
ABC’s
operations
in
the
past
two
years
created
correspondingly
greater
capital
requirements.
Accordingly,
last
summer
we
issued
and
sold
$100
mil-
Mr.
Goldenson
(right),
and
Mr.
Rule.
2

Plik z chomika:

Inne pliki z tego folderu:

Inne foldery tego chomika:

Zgłoś jeśli naruszono regulamin