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Archive for Sunday, October 27, 1996

CORPORATE EARNINGS

October 27, 1996

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Capitol Federal Savings and Loan Assn. announced a new high of $4.48 billion in assets for fiscal year 1996, ending Sept. 30, an increase of $101 million from the previous year. Capitol Federal's capital grew by $26.6 million from retained earnings to end the year at $547.4 million. Capitol Federal provided over $659 million in mortgage loans for the year.

FMC Corporation, with a plant in North Lawrence, reported third quarter sales of $1.3 billion, an increase of 11 percent from last year's third quarter of $1.1 billion. Earnings per share from continuing operations increased 9 percent to $1.56 in the third quarter of 1996 compared with $1.43 in last year's third quarter. Net income per share, including discontinued operations, was $1.44 for the third quarter of 1996 compared with $1.51 last year.

Year-to-date sales of $3.6 billion increased 10 percent from $3.3 billion in the 1995 period. Earnings per share year-to-date were $4.56 in 1996 compared with $5.02 last year. Net income per share year-to-date was $4.37 for 1996 versus $4.97 for 1995, which includes discontinued operations for 1996.

FMC sells industrial chemicals, performance chemicals, machinery and equipment and defense systems. The company discontinued its precious metals operation July 31.

Higher prices for crude oil and natural gas contributed to the Phillips Petroleum Co.'s third-quarter net income of $187 million and $3.9 billion in revenues reported last week.

Phillips said its earnings for the three months ended Sept. 30 amounted to 71 cents a share and were up 38 percent for the same period last year.

Net operating income from U.S. and foreign exploration and production rose 98 percent from one year ago -- from $82 million to $162 million -- because of the higher crude oil, natural gas and natural gas liquids sales prices.

Earnings in the company's refining, marketing and transportation segment dropped from $36 million to $33 million primarily because of lower motor fuel margins, officials said.

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