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BUSINESS Strong Sales Prompt Second Quarter Surge

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BUSINESS Strong Sales Prompt Second Quarter Surge zn — MANTHKSTKH HKRAl.I), Salunliiy. July 21 1984 BUSINESS Few child abuse cases, Romanian leader says State to help Business Gannett Cable TV but problem Isn’t gone Moscow wants to talk thread workers in Brief looks to PERSONAL balks at ... page 3 ... page 4 ... page 20 Pioneer income increases ^ IHCOME Pioneer Internution;il Corp. of Manchester reported income for the six months ended June 2 Europe state tax of $1 6 million on sales of $11.6 million, compared .with income of $11 million on sales of $i:i million NEW YORK (U PI) - Gannett Co., for the same period last year. already testing publication of its USA trillions Bv Mark A. Dupuis Warm tonight; Manchester, Conn. Karnings per share during the period were 95 Today newspaper in Europe, has set United Press International cents, compared with 67 cents per share the another sales target in the Pacific in an $3.0- Sunny Tuesday Monday, July 23, 1984 previous year. aggressive two-front overseas expan­ H A R TFO R D — The state’s cable — See page 2 Single copy: 25<t Comptiny President Alan If GreenstadI said sion effort. television industry Friday asked the the decline in sales was due to fluctuations in The Pacific edition, which would ' $ 2 . 9 - federal government to order the state product mix and delivery dates to military and to cut its tax on the gross revenues of manrhpBlpr Hrrali cover Japan. Hong Kong, Singapore aerospace customers. and elsewhere in Asia, is less public­ [ u p 0 . 8 ' cable companies to a third of the ' $ 2 .8 - "Our backlog position is .strong and the outlooK ized than the European undertaking, in June current 9 percent levy. for increased demand Irom our military and but Vincent Spezzano, president of The Connecticut Cable Television aerospace customers points toward a resumption Gannett’s I'SA Today international $2.7 Association said the tax was regressive of sales growth toward the end of the year," he subsidiary, sees "sufficient interest to and far above the level allowed under said. j-1 I 1' ^ produce USA Today and distribute it Federal Communications Commission Pioneer International produces parachutes, there” Jan. 1984 rules. Strong sales prompt $2.e UPl recovery .systems, hang gliders and ultralight Both are intended for Americans Jan. 1983 The association, representing all but aircraft. The company last month began delivery (tfljroad. one of the state’s 26 cable companies, of two new ultralight aircraft. The Rochester, N.'Y.-based publish­ filed it petition asking for an FCC order ing and information concern will watch requiring the state to roll back the 9 the European test edition, a reduced Seasonally adjusted annual rates percent levy to 3 percent. second quarter surge two-section, 16-page paper, for a couple Michael J. Dorfsman, executive 2 Rogers reports records UPJ photo director of the association, said a 3 of months, Spezzano said in an Bv Denis G. Gulino mance.” particularly interest The second quarter growth re­ ROGERS — The Itogers Corp. has reported interview with UPI. \ percent tax was the maximum allowed- record sales of $.55 million and net income of $16 The nation's personal grew by a moderate 0.8 percent in June, under FCC rules to cover the cost of United Press International rates, export performance and presented $29 3 billion more na Then it will begin publication inVsja budget deficits. tional output in 1972 dollars, million for the second i|uarterof 1984 in September or October, he said.V ' but spending slowed down dramatically, increasing only 0.2 regulating the cable industry. s WASHINGTON - The US. The growth rate was adjusted for against a first quarter increase of The second quarter sales figure represented a The ventures, in which the colorfirt- percent, the Commerce Department reported Friday. Personal State Revenue Services Commis­ V ) economy, again exceeding expec­ inflation and seasonal variations $38.2 billion, the department said 22 percent increase over the previous year's, newspaper would be transmitted by sioner Orest T. Dubno frowned on the income climbed, at annual rates, by $23.9 billion last month toa tations, grew at a strong 7.5 In 1984 dollars, the nation’s gross while income rose .36 percent. .satellite, are the first overseas for USA cable industry request and defended and far exceeded the initial tenta- seasonally adjusted annual rate of $3,004 trillion. percent annual rate in the April- national product was running at an Earnings per share in the second quarter of this Today, which was confirmed in a the 9 percent tax, which reaped more tive^"flash" estimate by govern­ yeaj were 57 cents, compared with 42 cents per than $13 million for the state in the last June quarter, following blistering ment economists last month for 5.7 annual rate of $3..5.53 trillion in the recent Audit Bureau of Circulation first-quarter growth of 10.1 per­ 3 second quarter up 10.9 percent share the previous year report as the nation’s third largest fiscal year. percent second quarter growth. cent, the government said today. from a year earlier. For the six months, net income was $2.9 million daily with an average paid circulation "I think it’s proper and I’m disap­ The improvement also was more on sales of $67 millioti. Americans earn more pointed that since they became an The latest growth in the output of vigorous than anticipated by virtu- The GNP is the nation’s broadest of 1.138,030. goods and services was spurred by economic indicator, measuring the Company President Norman L. Greenmansaid Spezzano led a fact-finding mission industry in Connecticut they’ve contin­ ally every leading private sales of continuing products increased 25 percent ually tried to avoid taxes," Dubno said. consumer and business spending forecaster. market value <if everything pro­ on the Asian venture in March, visiting that generated more final sales, over the first half of 1983. f eight prospective printers in Japan and Dorfsman said the tax was intended The first quarter, now revised to duced. Economists generally but they spend less the Commerce Department said. show a 10.1 percent expansion, was agree that a sustained 4 percent "The record results and higher margins in the Hong Kong and a couple in Singapore by the FCC to allow states to recover second quarter are encouraging, " Greenmail regulatory costs, but was being used in By contrast, first quarter growth last reported to have grown at a 9.7 growth rate is enough to shrink who approached Gannett. He would not was fueled mainly by the restock-' said, “ We expect to see further progress in the name them. By Denis G. Gulino projection last month will turn out to Connecticut as a revenue source. He percent rate. The new figure unemployment. final six months of the year. " United Press International be. It saw a strong 5.7 percent annual said the state had a separate assess­ ing of inventories. makes it the strongest period for Discussion on the Asian part of the Administration officials reacted expansion project "means principally growth rate. ment on cable companies to cover the economy since the beginningof W ASHINGTON — Personal income, quickly to the reports. that we have sent to them (prospective If the projection was not too strong operating costs of the Department of 1981. fed by nearly half a million more “ It’s exceptionally good news printers) our specifications and they the economic recovery so far will Public Utility Control, which regulates The only sour note in the latest CBIA reassigns two paychecks, grew by a healthy again," said White House spokes­ will tell us whether or not they have 0.8 become the second-best since World cable companies. report was the category export Inside Today percent in June but consumers War II, more vigorous than any such man Larry Speakes, adding the sales. Elsewhere in the economy Annemarie H. Riemer of West Hartford has equipment which will meet those "We feel that we and our subscribers abruptly slowed their spending, the figures show "economic growth in final sales grew 8.3 percent in the been named director of research for the specifications, " Spezzano said. period except the explosion of growth in are being overtaxed," Dorfsman said. UPI photo 20 pages, 2 sections government said Friday. 1949 to 1951 despite high interest rates. the recovery is stronger than at Connecticut Busine.ss and Industry As.sociation Mitsubishi Corp.. a large Japanese Cable companies also pay corporation second quarter compared to 4 The improvement in income touched any time since 1950. Inflation A d v ic e .................... and Marshall R. Collins of Salem has been named trading house, is the only company But whatever happened in the second taxes and the gross receipts tax far Fire damages L.A. retirement home percent in the January-March every sector of the economy, even remains nailed down and the quarter. Business............. director of public affairs, CBIA President which has made public its interest in quarter, leading economists generally outweighed the revenue produced if Classified.................................... Kenneth O Decko announced, the Gannett venture in Asia. farms where there have been declines Los Angeles City firemen aid an elderly home late Sunday. More than 230 economy remains on track." The report also confirmed the in May and during several previous agree the current third quarter will be cable companies had to pay local Commerce Secretary Malcolm C o m ics................................. Ms. Riemer will assume responsibility for In February, three Mitsubishi offi­ victim that was evacuated from a people were evacuated and at least five strong growth is still not accom­ Entertainment........................
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