Quaker Oats Co. yesterday reported increases in earnings, sales and net income for the year ending June 30.
Also yesterday, SCM Corp. said its fiscal fourth-quarter profit climbed 33 percent from a year earlier on an 8 percent sales gain. Full-year earnings were flat, however.
Quaker reported that record fourth-quarter earnings per share, which included a $6.3 million (15 cents a share) charge for the sale and restructuring of businesses, were $1.54, a 29 percent improvement over last year. The introduction of new products allowed fiscal 1985 earnings to increase 12 percent to $3.76 a share, compared with $3.35 a year ago, officials said.
Sales increased 5 percent to $3.52 billion, compared with $3.34 billion last year. Net income increased 13 percent to $156.6 million, compared with $138.7 million, Quaker officials said.
*In its fiscal fourth quarter ended June 30, SCM Corp. said net income rose to $21.2 million ($2.13 a share) from $15.9 million ($1.61) a year earlier. Sales increased to $581.6 million from $536.4 million.
SCM said the improved earnings stemmed primarily from gains in its chemicals, foods, and coatings and resins operations. SCM is a diversified manufacturing concern whose products include Smith-Corona typewriters, Glidden paints and Durkee foods and spices.
For the full year, SCM said profits inched up to $41.8 million ($4.20) from $41.7 million ($4.24) the previous year. Per-share profits slipped in the latest year because there was more common stock outstanding than in the previous year. Annual sales rose to $2.18 billion from $1.96 billion.