United Technologies Corp. yesterday reported record full-year and fourth-quarter earnings and sales. UTC's directors also increased quarterly dividend on common stock 11 percent from 45 cents to 50 cents a share.
UTC said 1977 profits climbed 25 percent to $195.97 million ($5.66 a share) the highest in the corporation's history, compared with $157.40 million ($5.05) in 1976. Sales rose 7 percent to an all-time high of $5.55 billion compared with $5.17 billion for 1976.
Fourth-quarter profits rose 25.6 percent to $49.59 million ($1.36), the highest for any fourth quarter in its history, compared with $39.48 million ($1.18) in 1976. Sales rose 5 percent to $1.428 billion from $1.359 billion.
Chairman Harry J. Gray said the diversified aerospace manufacturing company had a backlog of $6.6 billion on Dec. 31, a 35 percent increase over the order backlog a year earlier.
Procter & Gamble Co., the nation's second largest coffee roaster and a major producer of soap and toiletries, reported a 10.7 percent increase in its six-months' profits and a 9.8 percent gain for the second quarter.
For the six months, earnings, reached $260.9 million ($3.16 a share) compared with $235.5 million ($2.85) for the same period a year ago. Sales climbed 8.6 percent to $3.86 billion from $3.56 billion.
Second quarter profits totaled $110.9 million ($1.34) compared with $101 million ($1.22), while sales rose 11 percent to 1.92 billion against $1.73 billion.
Nabisco Inc., the diversified food producer, said sales and earnings set new highs in the final 1977 quarter and for the full year.
The company said domestic food operations touched new highs in sales and profits, thanks to several new products and a firm market. Its results abroad also improved.
Profits for the year rose to $78 million ($4.86 a share), from $77 million ($4.82) for 1976, while sales moved up 5 percent to $2.07 billion from $1.97 billion.
For the final quarter the company earned $30.1 million ($1.87) on sales of $568.48 million against $22.2 million ($1.39) on sales of $432.62 million in the final 1976 period.
Texasgulf Inc., the mineral producer, reported a decline in full-year and fourth-quarter earnings because of higher operating costs and lower sales of zinc, copper and fertilizers.
The company reported profits for the year of $48.28 million ($1.21 a share) on sales of $482.65 million compared with $60.84 million ($1.98) on sales of $480.54 million a year earlier.
For the fourth quarter, the company said sales fell to $7.9 million (19 cents) on sales of $106.9 million compared with $8.1 million (26 cents) on sales of $123.98 million.
Braniff International reported record 1977 earnings of $36.43 million ($1.82 a share), an increase of 38.1 percent from 1976 earnings of $26.37 million ($1.31)
Revenues for 1977 totaled $791.16 million compared with $679.72 million in 1976. But operating expenses increased to $728.4 million or 16.1 percent more than the 1976 figures.
The results included record fourth quarter for Braniff with net income of $11.89 million (59 cents) on revenues of $216.9 million compared with $9.36 million (46 cents) on revenues of $180.34 million.