P.M. BRIEFING : Zenith Corp. Earns $20.4 Million, Posts First Annual Profit Since '84

From Times wire services

Zenith Electronics Corp., which announced last week that it was adding workers in its troubled television manufacturing division, said today that it earned $20.4 million in the fourth quarter and posted its first annual profit since 1984.

The fourth-quarter profit, equal to 78 cents a share, was sharply higher than the $4.7 million, or 18 cents a share, in the same period in 1987. For the year, Zenith earned $11.7 million, rebounding from a three-year losing streak that included a $19.1-million loss in 1987. "Although our consumer electronics continues to get better, it is still not operating at a satisfactory level," Chairman and President Jerry Pearlman told a news conference. The company is still seeking a buyer for the entire consumer electronics group.

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