Argus Profit Report Shows Big Increase

Argus Profit
Report Shows
Big Increase

Net Retutn For Six
Month Is $171,518;
Firm's Sales Down

Argus, Inc. today issued a report
for the first half of its current
fiscal year which shows a $171,518
profit after taxes, as compared to a
profit of $49,118 for the comparable
period last year.

Argus underwent a reorganiza-
tion in June that resulted in a

•ange in the firm's top manage-
pnt and consolidation of its oper-
ons.

-;ross profit on sales during the
six-month period ending Jan. 31
totalled $717,234, compared to gross
sales profits of $674,540 during the
comparable period last year.
Increased Efficiency' A

The gain in gross profit was de—
scribed by the company as due to
increased efficiency in production.

In a statement to stockholders,
the company noted that "sales for
the period show a decrease of 25
iper cent compared to sales of
', photographic equipment for the
same period last year."

This, it was said, is in line with
sales by the industry as reported
by the National Photographic Asso- ,
ciation.

The amount of the sales was not
disclosed.

Half Of Loan Repaid

Two hundred and ninety-five
thousand dollars of a $600,000 loan
from the Reconstruction Finance
Corp. last year has been repaid,
according to the report. The RFC
authorized lending Argus '-s 'i;'"'^
but the firm only borrowc
000.

The report also said the camera
firm plans to introduce two new
models at. the Cleveland Photo-
graphic Show in March. _