B.F. Goodrich Co. said yesterday that its fourth-quarter profits climbed 53 percent but dropped 25 percent during all of 1980 because of reduced production.
The Akron-based tiremaker said it earned $22.7 million ($1.30 a share) in the last three months of 1980, up from $14.8 million (87 cents) a year earlier. Sales for the quarter rose to $779.8 million from $775.3 million in the 1979 period.
Net income for the fourth quarter included $3.4 million from the sale of butadiene operations and $5.1 million from the sale of a German subsidiary, Goodrich said.
In 1980, Goodrich earned $61.7 million ($3.57), down from $82.6 million ($4.89) the previous year. Sales totaled $3.1 billion, up from $3 billion in 1979.
The company said its 1980 earnings were affected adversely by weak demand for tires, chemicals, plastics and engineered products.
Goodrich said production level and inventories during the year were reduced because of sagging demand.
More detailed results for all of Goodrich's businesses will be released after an audit later this month.
Goodrich recently announced it no longer would supply tires for new cars -- a market subject to fierce price competition -- and would concentrate on the replacement-tire market beginning with the 1982 model year. The company derives about 60 percent of its revenues from its chemicals and engineered products divisions.
Anheuser-Busch Cos., the country's largest brewer, had a 17.1 percent sales gain and improved earnings last year.
However, the cumulative effect of an accounting change on investment tax credits caused a restatement of 1979 profits of $4.34 a share compared with the $3.19 reported earlier and $3.80 for 1980.
Net income was $171.8 million on net sales of $3.295 billion compared with $196.43 million in 1979 on sales of $2.776 billion.
In the final quarter, Anheuser-Bush earned $35.06 million (78 cents a share) on sales of $800.49 million compared with $28.49 million (63 cents a year earlier on sales of $695.08 million.
Physical production of beer was 50.2 million barrels, up 8 1/2 percent from the 46.2 million barrels produced in 1979.
Oscar Mayer & Co., the meat packer that currently is the target of a takeover bid by General Foods Corp., said yesterday that it earned $11.36 million (71 cents a share) in its first quarter ended Jan. 24, up from $9.76 million (61 cents) a year ago. Sales rose to $461.62 million from $410.11 million.
The 1979 net came after a $1.79 million extraordinary loss by the Louis Rich subsidiary, which markets turkeys.
The company said processed meats, turkeys and international operations produced better results than a year earlier but food service sales were disappointing and unprofitable.
Jos. Schlitz Brewing Co. went from a net loss of $50.6 million in 1979 to a profit of $27 million in 1980, its chief executive officer reported yesterday.
However, sales and barrelage for the nation's No. 4 beer maker last year were down from 1979, Frank Sellinger reported.
Sales were $1.02 billion in 1980 compared with $1.04 billion in 1979, and barrelage slipped from from 16.8 million in 1979 to 15 million last year.
Sellinger said several factors were behind the significant change in earnings, including higher prices, a reduction in plant capacity and "our continuing cost-control programs."
The net loss in 1979 included after-tax provisions of $44.3 million for a disposal of assets, principally the sale of a brewery.
Nonoperating factors contributing to the profit were improved interest income and the favorable effect of repurchases of debentures, Sellinger said.
He added that the introduction of two new beers -- Erlanger and Old Milwaukee Light -- had given the company "strong products" in the super premium and light categories.