Pan American World Airways Inc. reported a dramatic 57 per cent rise in third quarter earnings last year to $67.5 million ($1.60 a share) compared with $42.8 million ($1.01) last year. Revenues were $562.4 million against $564.6 million last year.
Profits for the first nine months totaled $61.2 million against a loss at this time last year of $9.9 million. Revenues were $1.42 billion compared with $1.25 billion last year.
Textron, Inc., reported an increase in its third quarter profits of more than 30 per cent to $35.77 million (95 cents a share) from $27.17 million (73 cents) for the same period a year ago. Sales for the quarter rose to $681.6 million from $624.9 million.
The company reported nine month profits of $99.35 million ($2.65) compared with $84.45 million ($2.26) on sales of $2.08 billion. Sales for the same period a year ago were $1.96 billion.
Goodyear Tire & Rubber Co. reported record third quarter sales and nine month profits and sales.
Profits for the third quarter ended Sept. 30 totaled $33.9 million (47 cents a share) compared with a loss of $5.3 million (7 cents) a year ago as a result of a four-month-long rubber workers strike. Sales for the quarter jumped 23.9 per cent to $1.62 billion from $1.31 billion a year ago, an all-time high.
Chairman Charles J. Pilliod Jr. said nine month profits increased 136 per cent to $163.6 million ($2.26) compared with $69.2 million (96 cents) a year ago. Sales improved 15.6 per cent to $4.93 billion from $4.26 billion a year ago.
National Steel Corp. reported a 46 per cent drop in third quarter earnings to $13.6 million (71 cents) from $29.4 million ($1.55) a year ago on sales of $805 million compared with $755 million.
Company chairman George A. Stinson attributed the drop to "illegal work stoppages at the company's coal and iron ore mines." He said a sharp increase in imported steel was a "contributing factor" in the decline.
National said primary steel production in the quarter fell 15.7 per cent to 2.4 million tons from last year's 2.8 million tons. Steel shipments fell 7.7 per cent for the period to 1.9 million tons from 2.03 million tons.
Nine month earnings dipped to $43.7 million ($2.27) on sales of $2.38 billion compared with earnings of $70.6 million ($3.74) on sales of $2.2 billion a year ago.
Gerber Products Co., the world's biggest maker of baby food reported today that its earnings fell 9.5 per cent in the fiscal second quarter despite a rise in sales.
John Suarth, chairman, blamed the earnings drop on an 18-week strike at the Fremond, Mich., plant, high expenses in thwarting a takeover bid, and price controls and container shortages in Latin America.
He did not specify the losses from each of those causes, but said Gowber has been granted price relief in three Latin American countries and a better continer supply is expected.
Ernings fell from almost $6.3 million 78 cents a share to $5.7 million 71 cents.
Sales for the quarter ended Sept. 30 were $111.3 million against $101.6 millionin the 1976 quarter.
For the six months, profits fell from $12.8 million $1.58 to $10.1 million ($1.25) a year earlier.
Sales rose from $200 million to $213 million.
Suarth predicted that despite the first half results, Gerber will have record earnings this year. Last year Gerber had sales of $372 million and earned $2.81 per share.
Bell & Howell reported a slump in third quarter earnings to $2.04 million (35 cents a share) from $3.64 million (63 cents) a year earlier in spite of a rise in sales to $125.26 million from $112.65 million.
For nine months, Bell & Howell earned $8.02 million ($1.39) on sales $352.73 million compared with $7.56 million ($1.58) a year ago on sales of $311.39 million.