ROANOKE TIMES
Copyright (c) 1997, Roanoke Times
DATE: Thursday, January 30, 1997 TAG: 9701300059
SECTION: BUSINESS PAGE: B-5 EDITION: METRO
DATELINE: DEARBORN, MICH.
Big Three earnings were flat last year at just over $12.9 billion, partly because of a 22 percent decline in fourth-quarter profits blamed largely on General Motors Corp.'s strike costs.
1996 ended as Detroit's third-most-profitable year. It would have ranked No.1 if not for GM's $1.2 billion in after-tax losses from strikes in the United States and Canada and an abundance of other one-time charges.
The record for combined Big Three profits was $13.9 billion in 1994, followed by $13 billion in 1995.
Ford Motor Co., the last of the U.S. automakers to report year-end results, said Wednesday its profits increased 82 percent in the October-December period and 7 percent for the year.
No.1 GM said its profits for the year fell 28 percent to $5 billion, while No.3 Chrysler posted its second-best year with $3.5 billion in earnings.
Ford earned $4.4 billion, or $3.72 a share, for the year, compared with $4.1 billion, or $3.58 a share, in 1995. Revenues were $147 billion, up from $137.1 billion.
For the quarter, Ford earned $1.2 billion, or $1 a share, compared with $660 million, or 49 cents, in the 1995 period. Revenues totaled $38.8 billion, up from $34.5 billion a year earlier.
-Associated Press
American Electric Power Co.
4th qtr. ended 12-31 1996 1995
Revenues $1.45 billion $1.43 billion
Net Income $132.4 million $131.4 million
Share earnings 71 cents 70 cents
Year ended 12-31
Revenues $5.85 billion $5.67 billion
Net Income $587.4 million $529.9 million
Share earnings $3.14 $2.85
The Columbus, Ohio, utility, which operates a regional headquarters in Roanoke, on Wednesday declared a regular quarterly dividend of 60 cents per share of common stock, payable March 10 to shareholders on Feb. 10.
DuPont
4th qtr. ended 12-31 1996 1996
Revenues $11.41 billion $10.39 billion
Net Income $858 million $627 million
Share earnings $1.52 $1.13
Full year ended 12-31
Revenues $43.81 billion $42.16 billion
Net Income $3.64 billion $3.29 billion
Share earnings $6.47 $5.61
Wilmington, Del.-based E. I. DuPoint de Nemours and Co. operates a nylon plant in Martinsville.
LENGTH: Medium: 57 linesby CNB