Polaroid Corp.: The Cambridge, Mass.-based photography and...
From Times Staff and Wire Reports
Polaroid Corp.: The Cambridge, Mass.-based photography and instant-imaging company reported net earnings for 1989 of $145 million, contrasted with a loss of $22.6 million in 1988. The 1989 figure included a pretax charge of $40.5 million resulting primarily from litigation expenses related to an unsuccessful takeover attempt by Shamrock Holdings. The 1988 results included a pretax charge of $151.9 million for restructuring costs and Shamrock-related expenses. Sales for 1989 rose 2% to $1.9 billion. For the fourth quarter of 1989, net earnings were $46.5 million, contrasted with a 1988 loss of $7.5 million. Sales for the period edged up 1% to $538.1 million.
