Adjusted operating profits
exclude exceptional and certain re-measurement
On a consolidated exchange rate basis, operating profits
were up 32 percent, to $23,090,000, with all operating divisions reporting higher sales volume for the period.
Based on the strong Q3 performance, together with the growing sales pipeline, we expect adjusted operating profits
for the full year to show an increase compared to last year.
Broadcasting: Revenues and operating profits
were up approximately $12 million and $7 million, respectively, in the quarter compared to the same period of 1993 due primarily to higher revenues in television and continued cost reductions in the television and radio groups.
We expect consolidated net sales in 2006 to increase by 9% - 11% and operating profits
to grow at a higher rate.
Results of IC Division, representing 90% (92%) of Group adjusted operating profits
These businesses experienced lower sales volumes, but operating profits
benefitted by $2.
Results of IC Division, representing 91% of Group operating profits
Included in operating profits
for the fourth quarter are gains of approximately $5 million from recovery of affiliated receivables written off in 1992 and approximately $1.
The Company's true financial status, including its Q4 2005 declining gross sales, declining Dental Supply segment sales, declining Dental Supply operating profits
, declining Dental Supply operating profit
margin, declining net income and declining gross margin growth, was ultimately disclosed on May 26, 2005.
were up slightly for the fourth quarter of 1993 primarily due to a favorable mix of sales at power generation.