National Steel Earnings Up

THE JOURNAL RECORD, July 23, 1992 | Go to article overview

National Steel Earnings Up


PITTSBURGH _ National Steel Corp. said Wednesday secondarter profits rose to $4.5 million on gains in productivity and sales.

The nation's fourthrgest steelmaker lost $36.9 million in the second quarter of 1991, when demand and prices fell during the automotive and construction industries' recessions.

The earnings included a pretax charge of $2.8 million for pensions offered in an early retirement program as part of the company's move this fall from Pittsburgh to Mishawaka, Ind.

Sales rose 8 percent in the second quarter to $621.3 million from $573.5 million.

In the first half of the year, the company lost $14.6 million, compared to a loss of $101.3 million in the first half of 1991. Sales rose 9 percent to $1.2 billion from $1.1 billion. Profit Soars at Media Company

DALLAS _ A.H. Belo Corp. said Wednesday its secondarter profit nearly doubled to $12.5 million and revenue rose 20 percent largely due to gains at The Dallas Morning News, its largest operation.

The newspaper, operating its second full quarter without a competitor in Dallas, has experienced strong growth in circulation and advertising volume and revenue, the company said.

Greater advertising demand in four of the five markets where Belo owns TV stations also helped the company during the three months that ended June 30.

The company earned 63 cents per share on revenue of $134.2 million in the quarter. A year ago, Belo earned $6.5 million, or 34 cents per share, on revenue of $111.9 million.

Belo stock closed up $1.375 at $45.125 on the New York Stock Exchange.

The company's publishing division, which includes The News and several suburban papers in the Dallasrt Worth area, had revenue of $80.9 million, 30 percent higher than $62.6 million a year ago. The division's operating earnings were $14.1 million, up from $5.9 million a year ago.

For the first half of the year, Belo earned $18.9 million, or 95 cents per share, on revenue of $248.9 million. The company earned $4.6 million, 24 cents a share, on revenue of $206.1 million in the first half of 1991.

Coors Ends Negotiation to Sell Transportation Company Coors Ends Talks with J.B. Hunt

GOLDEN, Colo. _ Coors Brewing Co. said Wednesday it had ended talks with J.B. Hunt Transportation on the sale of Coors' transportation subsidiary.

The two parties could not reach an accord in their discussions on Coors Transportation Co., said Peter H. Coors, chief executive officer. …

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