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TO THE STOCKHOLDERS
OF UNITED STATES RADIUM CORPORATION
The year 1946 presented many obstacles to a smooth and satisfactory transition from war
to
a peace-time economy. The numerous strikes in the early part of the year, with the resultant
shortages in many basic materials, resulted in substantial operating losses for the Corporation
during the first three months of the year. These losses were not completely made up until after
mid-year, when an increased volume of watch and clock dial production became possible. Quality
materials remained scarce during the entire year. This further complicated production schedules
and increased the cost per unit of many of the various items manufactured.
After all adjustments, Federal and States Taxes, and the payment of dividends at the
annual rate of 606 per share on the Common and $7.00 per share on the Preferred Stock of the
Corporation outstanding, there was added to the surplus account approximately $8,000.00.
The first four months business of the current year 1947 has been reasonably satisfactory
both from the standpoint of volume and profits, but there is evidence of a slackening of demand
for the products currently in production. Should this trend continue, and many believe that it
will, no one can accurately forecast just what effect it may have on the year's operations as a
whole. Many basic materials remain scarce even at this time, but there is some evidence of
improvement.
The Renegotiation of excessive profits on war contracts for the year 1945 has been settled
on a satisfactory basis. The Suits pending in the Tax Court of the United States covering
amounts involved under Renegotiation for the years 1942, 1943 and 1944 should come to trial
this coming Fall, but there is a possibility that the matter may not be reached until the Spring
of next year.
The Weksler Thermometer Corporation enjoyed a fairly satisfactory volume of business
throughout the entire year and their operations resulted in a net income, after Federal Taxes,
of $25,060.00. Business so far this year, 1947, is running at approximately the same rate as last
year's operations.
Very truly yours,
C. B. LEE, President
May 15, 1947.
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"ocrText": "TO THE STOCKHOLDERS\nOF UNITED STATES RADIUM CORPORATION\nThe year 1946 presented many obstacles to a smooth and satisfactory transition from war\nto\na peace-time economy. The numerous strikes in the early part of the year, with the resultant\nshortages in many basic materials, resulted in substantial operating losses for the Corporation\nduring the first three months of the year. These losses were not completely made up until after\nmid-year, when an increased volume of watch and clock dial production became possible. Quality\nmaterials remained scarce during the entire year. This further complicated production schedules\nand increased the cost per unit of many of the various items manufactured.\nAfter all adjustments, Federal and States Taxes, and the payment of dividends at the\nannual rate of 606 per share on the Common and $7.00 per share on the Preferred Stock of the\nCorporation outstanding, there was added to the surplus account approximately $8,000.00.\nThe first four months business of the current year 1947 has been reasonably satisfactory\nboth from the standpoint of volume and profits, but there is evidence of a slackening of demand\nfor the products currently in production. Should this trend continue, and many believe that it\nwill, no one can accurately forecast just what effect it may have on the year's operations as a\nwhole. Many basic materials remain scarce even at this time, but there is some evidence of\nimprovement.\nThe Renegotiation of excessive profits on war contracts for the year 1945 has been settled\non a satisfactory basis. The Suits pending in the Tax Court of the United States covering\namounts involved under Renegotiation for the years 1942, 1943 and 1944 should come to trial\nthis coming Fall, but there is a possibility that the matter may not be reached until the Spring\nof next year.\nThe Weksler Thermometer Corporation enjoyed a fairly satisfactory volume of business\nthroughout the entire year and their operations resulted in a net income, after Federal Taxes,\nof $25,060.00. Business so far this year, 1947, is running at approximately the same rate as last\nyear's operations.\nVery truly yours,\nC. B. LEE, President\nMay 15, 1947."
}