Argus Reports Propfit Decline

Argus Reports
Profit Decline

Sales Of $8,955,406
Listed By Company

Sales of $8.955,406 resulted in

a net profit of $281,679 at Argus, Inc.,

during the past fiscal year, the
company announced today.

This represents a $126,563 drop
in profits over last year when th°
company made $408,243'after ta.vps.

i the 12 months ending July 31,
. -irnings amounted to 67 cents per
share of common stock, as com-
pared to earnings of 99 cents at
the end of the same period in 1947.

Sales increased by more than a
million and a half dollars over the
previous year's total, the annual
report, issued today, showed. Ii^ a
letter to the stockholders, R. D.
House, president of the company,
attributed the increase to the pro-
duction ofJ.wo new cameras and a,
new photogra pi-lie projector manu-
factured by Hie firm.
$19(».0<»0 In t'.S. Taxes

Federal taxes in the amount of
$190,000 were paid to the govern-
ment and the net worth of the
business, or value to the sharehold-
er, increased from $2,303,733 last
year to $2,454,329 this year.

In releasing the report, which
'st year won an award as an out-
.anding corporation publication,
Argus stockholders were told of
the future production plans of the
camera concern.

Market tests on a new lower
pi ice camera, the Argoflex 75,
which will retail at $12.75, wer?
discussed in Hie letter from the
president of the company. Full pro-;

duction is expected to begin after
the first of January.

' Shareholders also were informed
that with the new defense program
in the offing, the firm has taken
several substantial contracts from
the armed services for production
of optical equipment similar to
that. which was manufactured dur-
ing the war. • ^