Rises in Earnings, Sales Reported by Marantz Co.

Marantz Co., a Chatsworth audio and video company, reported a $95,000 profit in the third quarter ended Sept. 30 on sales of $14.2 million.

Marantz’s earnings, 4 cents a share, were up from $24,000, or 1 cent a share, in the same period a year ago. Sales were up 22%.

William Morris, vice president and chief financial officer, attributed the higher sales to the introduction of new audio components. He said there also was price cutting to sell off discontinued lines, and that the bargain prices prevented more than a token improvement in profits.

Marantz remained in the red for the first nine months. Its nine-month loss was $2.6 million, or $1.12 per share, up from $1.6 million, or 69 cents, for the year-earlier period. Sales were $28.7 million in the most recent nine months, versus $29.6 million a year earlier.

For detailed data and results of other companies, please see tables, Page 11.