KEY TO ROSTER--The corporate name of each company is followed by its founding or incorporation date in parentheses. Sales figures have been confined as closely as possible to operating revenues. They include equity in earnings of joint venture corporations as reported, but exclude nonoperating revenue such as dividends and gains from the sale of real estate. Income figures are given before extraordinary items. Related income-per-share figures are fully diluted when available and are based on average shares outstanding during the year, or the number of shares outstanding at year-end, depending on the company's accounting method. Sales and income figures are given for the year-end 1986 or fiscal year ended on or before February 28, 1987 followed in parentheses by sales and income figures, respectively, for the prior reporting period. Where preliminary figures have been made available, they have been so noted. Dividend figures (when paid) are reported for common stock shares. Asset figures are given as of the final day of the year covered by sales and income figures. The term "1986 Rank" indicates the rank of the company in the 1986 Los Angeles Times Roster. The 1986 Roster was published June 8, 1986 and used figures for years ended most recently prior to March 31, 1986. The abbreviation NYSE, ASE, PSE and OTC indicate listing/trading on the New York, American and Pacific stock exchanges or trading on the over-the-counter market. The various categories of companies have been ranked on the following basis: industrial firms by sales/revenues; merchandising firms by sales; transportation firms and utilities by revenues; and financial institutions and insurance firms by assets.
The top 10 California-headquartered, publicly held companies ranked by revenues for year-end 1986 or fiscal year ended on or before February 28, 1987
1 Consolidated Freightways Inc. (1958) Holding company with subsidiaries engaged in long-haul and regional motor carrier freight service in the United States and Canada, domestic and international air freight service, international customs brokerage, ocean freight forwarding and container handling. Revenues: $2.12 billion year-end 1986 ($1.88 billion in 1985). Income: $89.1 million or $2.31 a share ($79.3 million or $2.06). Dividends: 79.8 cents a share (71.6 cents, restated). Per share figures reflect three-for-two stock split in June 1986. Assets: $1.28 billion. Employees: total 24,600; California 2,500. Headquarters: 3240 Hillview Ave., Palo Alto 94304. Chairman and chief executive: Raymond F. O'Brien. President: Lary R. Scott. 1986 rank: 1. NYSE, PSE 2 American President Cos. Ltd. (1983) Leading containerized cargo transportation company in the Pacific. Largest purchaser of rail transportation in North America. Also major real estate developer in Sacramento, CA. Revenues: $1.47 billion ended 12-26-86 ($1.18 billion in 1985). Income: $18.0 million or 71 cents a share ($38.5 million or $1.86). Dividends: 50 cents a share (36 cents and 3% stock). Assets: $1.34 billion. Employees: total 3,970; California 930. Headquarters: 1800 Harrison St., Oakland 94612. Chairman, president and chief executive: W. B. Seaton. 1986 rank: 3. NYSE, PSE
3 Tiger International Inc. (1945) International transportation company engaged in air cargo and trucking through Flying Tigers, a scheduled all-cargo airline, and Warren Transport Inc., a specialized truckload hauler of heavy machinery and other commodities. Revenues: $1.11 billion year-end 1986 ($1.15 billion in 1985). Income: loss of $45.1 million or $1.45 a share (loss of $72.7 million or $2.69). Assets: $883.5 million. Employees: total 6,060; California 2,340. Headquarters: 7401 World Way West, Los Angeles 90067. Chairman, president and chief executive: Stephen M. Wolf. 1986 rank: 4. NYSE, PSE
4 PS Group Inc. (1973) (Formerly PSA Inc.) A holding company which, through its subsidiaries, is engaged in commercial air transportation, energy sales and production and other related services. Principal subsidiary, Pacific Southwest Airlines, provides airline service to 30 cities in seven western states and Mexico. Revenues: $895.4 million year-end 1986 ($780.0 million in 1985). Income: loss of $13.9 million or $2.25 a share (profit of $26.8 million or $3.88). Dividends: 60 cents a share (60 cents). Assets: $1.11 billion. Employees: total 5,000; California 3,500. Headquarters: 3225 N. Harbor Dr., San Diego 92101. Chairman: J. P. Guerin. President and chief executive: Paul C. Barkley. 1986 rank: 5 (PSA Inc.). NYSE, PSE
5 Transcon Inc. (1946) Nationwide motor freight common carrier with 210 truck terminals and relay stations located in 40 states. Operates about 6,500 units of revenue equipment and handles over 7,000 shipments a day. Revenues: $343.4 million year-end 1986 ($324.3 million in 1985). Income: $2.3 million or 54 cents a share ($1.2 million or 51 cents). Assets: $152.8 million. Employees: total 4,090; California 500. Headquarters: 101 Continental Blvd., El Segundo 90713. Chairman: Burke G. Piper. President and chief executive: Joe E. Hall. 1986 rank: 8. NYSE
6 The Harper Group (1970) Service business principally engaged in international freight forwarding which encompasses air and ocean freight forwarding and custom-house brokerage. Also provides other services related to international movement of goods including insurance and container leasing. Revenues: $191.5 million year-end 1986 ($174.7 million in 1985). Income: $9.0 million or 96 cents a share ($7.9 million or 85 cents). Dividends: 17 cents a share (17 cents, restated). Per share figures reflect three-for-two stock split in December 1986. Assets: $147.7 million. Employees: total 1,820; California 350. Headquarters: 260 Townsend St., San Francisco 94107. Chairman, president and chief executive: John H. Robinson. 1986 rank: 9. OTC
7 Viking Freight, Inc. (1966) Through its subsidiary Viking Freight System, is California's largest intrastate general freight motor carrier and one of the largest interstate carriers in the eight western states, specializing in LTL shipments. Also provides truckload service through its VFS Transportation division. Revenues: $170.9 million year-end 1986 ($130.3 million in 1985). Income: $4.7 million or $1.34 a share ($3.2 million or 90 cents). Assets: $90.6 million. Employees: total 3,050; California 2,330. Headquarters: 411 E. Plumeria, San Jose 95134. Chairman: Richard W. Bangham. President and chief executive: Randolph C. Bangham. 1986 rank: none. OTC
8 World Airways Inc. (1948) A certificated air carrier providing contract passenger and cargo services domestically and internationally. Revenues: $105.6 million year-end 1986 ($88.7 million in 1985, restated). Net income: loss of $28.0 million or $3.34 a share (loss of $15.0 million or $2.09). Assets: $172.4 million. Employees: total 1,160; California 1,110. Headquarters: Oakland International Airport, Oakland 94614. Chairman: Jerrold Scoutt Jr. President and chief executive: T. Coleman Andrews III. 1986 rank: 6. NYSE, PSE
9 BRAE Corp. (1977) Diversified company engaged, through several subsidiaries, in leasing and managing rail equipment and manufacturing and marketing advanced computerized visual communication systems. Revenues: $40.9 million 9-months ended 12-31-86 ($67.6 million 12-months in 1985, restated). Income: loss of $7.5 million or $1.87 a share (loss of $19.4 million or $4.70). Assets: $219.2 million. Employees: total 340; California 40. Headquarters: 160 Spear St., San Francisco 94105. Chairman: Ian M. Cumming. President: Joseph S. Steinberg. 1986 rank: 10. OTC
10 Wings West Airlines Inc. (1981) A commuter airline which began scheduled service in 1981. In June 1986, the company entered into a marketing agreement with American Airlines, becoming an American Eagle Carrier. As of January 31, 1987, began providing regularly scheduled airline service to 21 cities--16 in California, 2 in Nevada, 2 in Arizona, and 1 in Oregon. Revenues: $23.6 million ended 4-30-86 ($22.9 million in 1985). Income: $364,000 or 10 cents a share ($1.1 million or 34 cents). Assets: $12.6 million. Employees: total 540; California 480. Headquarters: 835 Airport Drive, San Luis Obispo 93401. Chairman, president and chief executive: Carl A. Albert. 1986 rank: none. NYSE
To be included in The Times roster, companies must have their principal headquarters in California and, with the exception of certain financial institutions, their stock must be publicly held. Limited partnerships with publicly traded stock are included. The requirements eliminate many companies in the state generating billions of dollars in sales and profits, because their head offices are located outside California or because they are privately owned.