Gencorp’s profit jumped 265% to $475 million...
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Gencorp’s profit jumped 265% to $475 million in 1987, primarily from non-recurring gains on the sales of WOR-TV, General Tire and RKO Bottlers. The Akron, Ohio, company said gains were partially offset by one-time recapitalization and restructuring expenses. Revenue was down 11.7% to $451 million. The decline was due to the timing of shipments on a major defense program.
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