From the Rolls-Royce experimental archive: a quarter of a million communications from Rolls-Royce, 1906 to 1960's. Documents from the Sir Henry Royce Memorial Foundation (SHRMF).
Extract from an automotive magazine detailing Chrysler's quarterly financial results.
| Identifier | ExFiles\Box 128\1\ scan0286 | |
| Date | 6th November 1937 | |
| Extract from "Automotive Industries" of Nov. 6th 1937. CHRYSLER'S QUARTER PROFIT UP. Nine Months' Earnings Slightly Lower than in 1936 though Sales Increased; Dividend of $3 a Share Declared. Chrysler Corp. reported net income for the nine months ended Sept. 30 of $40,424,211 or $9.29 per share, compared with $41,975,327 or $9.63 per share for the like period in 1936. Based on a comparison of reports, net income for the third quarter alone was indicated at $12,967,603 or $2.98 per share against $12,501,592 or $2.87 per share on a slightly smaller number of shares outstanding for the September quarter of last year. Sales for nine months amounted to $572,217,107, comprising 877,734 passenger and commercial units, compared with $479,819,688, with the unit total 768,503, for the 1936 period. Third quarter sales were indicated at $162,528,853 against $121,184,789 for the September quarter last year. K.T. Keller, president who signed the report, stated that according to the company's latest information retail sales for the first nine months of the year showed an 11 per cent increase over 1936 while export shipments showed a gain of over 13 per cent. Directors, at the meeting Oct. 22, declared a dividend of $3 a share payable Dec. 13 to stock of record Nov. 12. The payment raises the total of dividends for 1937 to $10 a share against $12 a share paid in 1936. The balance sheet of Sept. 30 showed cash and security holdings at somewhat higher levels as at the close of 1936. $47,209,484 in cash and $14,585,505 in securities. Car shipments against drafts were $4,263,112 against $10,460,516, while the statement of inventories less reserves showed $53,546,150 against $60,565,446. Total current assets were $126,957,063 against $149,101,687 on Dec. 31. Total current liabilities were $48,202,602 on Sept. 30 against $75,131,875 on Dec. 31, the reduction accomplished principally in accounts and payrolls payable and in tax reserves. Contingency reserves were increased during the nine months by about $3,400,000 to $15,611,432. | ||