Press enter after choosing selection

Argus Has 38 Per Cent Six-Month Income Jump

Argus Has 38 Per Cent Six-Month Income Jump image
Parent Issue
Copyright Protected
Rights Held By
Donated by the Ann Arbor News. © The Ann Arbor News.
OCR Text

Argus Has 38 Per Cent
Income Jump

Argus, Inc., sales a:


•y The article points out that "be-
40 per cent for the six-month peri- fore the war Argus was a relative-.'
cd ending Jan. 31 of this year. ly small producer of low-priced^

This information is contained in 35-mm cameras. It made neither|
the semi-annual financial report lenses nor shutters and was a cam-a
mailed out at noon today to stock- era house only in the loosest sense.'"
holders in the local camera corn- Tracing development of the;

P^y- firm during the war years, when.

Net profits of $275,137 were listed Argus craftsmen learned to grind
by Argus, after provision for fed- lenses, the magazine points out;

eral income taxes, for the six that "as a result of swift recon-i
months ending Jan. 31, 1948. version and vigorous merchandisr

This compares to $204,061 for the ing, today ... (the company) . . }
same period last year. accounts for an estimated $20 out

Current assets of the company of every $100 Americans spend for
are listed at $4,185,996 for the six new cameras."
months ending Jan. 31, 1948, as 'Sensational Showing'
against $3,042,564 for the corre- Argus, Inc., is given credit for
spending period in 1947. making what the article described

Current liabilities of the corn- as a spnsational showing in a mar^
pany are set at $2,892,319 on the kef "choked with at least 125 still-J
- "port, compared to $1,837,745 for cameras built by some 50 different

• same period last year. companies" in America, France?
Business 'Seasonal' Germany, Switzerland, Englanca

In his message to the stockhold- and Japan. ;'f
ers, Rob""t n. House, president, Argus sales are now equal to 1he(
pointed l "it is highly im- firms wartime peak and up 740 p-et,
pnrtant !,; u-iii in mind that the cent over 1940. ;

otographic business is highly Three officials of the firm are,

•sonal." mentioned in the magazine,.
"nentioned also that in line Howse, president of the firm,
.ie policy of the company de- Homer Hilton, Argus' sales man-.
veloping a rounded-out line of ager, and Clinton Harris, described
merchandise, Argus is continuing by Fortune as "a young engineer,
to design and tool new products of legendary attainments who has
upon which the firm is depending bossed Argus engineering and pro-
to "improve the company's posi- duction since 1941, when he was
tion and maintain sales volume." only twenty-five."

Coinciding with the issuance of In conclusion the write-up quotes,
the semi-annual report was the ap- the company as predicting that it
pearance on the news stands of the hopes to hold the annual sales at
March issu'e of Fortune magazine, about $10,000,000 by closely watch-;

which carries a 1,000 word article ing public tastes and by adding!
on page 138 of the "Shorts and new products, such as sou
Faces" section entitled "Argus— jectors and various new
Camera For Millions." models.