**Source:** CHEM-TEXTS
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New members of the Forty Years group of the Twenty Five Years Service Club pose with James Cronin, Factory Manager. From left in the photo are Gene Reale, Peter Machnics, Antonio Henriques, Thomas Doran, James Cronin, Michael Chmielewski, Nicholas Saliandr, Joseph Kolakoski, and Evo Gabriel. Missing from photo are J. Conrad Ranney and Anathor Giancarlo.
From left, Dr. Charles McGleary, Director of Research and Development for Uniroyal Chemical, congratulates Mary Sullivan and Beatrice Smiey on their Forty Years service.
Sales Up; Profit Off
Uniroyal set new records during the 3rd quarter and nine months of 1973, but net income declined.
Sales for the third quarter increased 14.8% to a record $240,487,000 compared with $209,611,000 for the same period in 1972. Nine months sales were $545,784,000, a gain of 15.5% compared to the previous record of $1,338,549,000 for the same period in 1972.
The major impact of the government-imposed price freeze occurred in the 3rd quarter and as a result net income declined to $7,801,000 compared with $10,175,000 for the 3rd quarter in 1972.
Net income for the nine months was $35,029,000, a decline of 2.6% compared to $35,929,000 last year.
The decline in the third quarter net income broke a string of 10 consecutive quarters in which earnings surpassed those for the same period of the preceding year.
Higher Costs, Tire Market Affect Net Income
A softening in the European tire market and high costs for new constructions in radial ply truck and passenger tires affected income.