Arco 1990 Annual Report Wins Award From Financial Analysts

It won’t displace “Scarlett” from the best-seller lists, but Atlantic Richfield Co.’s 1990 annual report has won recognition of its own.

Financial World magazine gave Arco its annual Gold Award for excellence in financial reporting, honoring the report’s clarity, completeness and accuracy.

Arco’s colorful report bested 1,000 others in 68 industries for the top honor. Security analysts pick the winner for Financial World, which is aimed at senior managers and institutional investors.

“It was one of the most complete reports that we received this year, one of the best organized, and with some of the most compelling graphics,” said Douglas McIntyre, the magazine’s president. The report’s graphics included computer-enhanced maps and illustrations.

In winning the award, the report avoided the most common pitfalls of bad annual reports--less than candid disclosure about company operations and over-reliance on technical jargon, McIntyre said.

Clarity and forthrightness are more than merely aesthetic goals.

“Many companies are still discreet or sensitive about reporting earnings in any detail, but it’s still important . . . to help you make a judgment and evaluate the management,” said Eugene Nowak, an analyst with Dean Witter Reynolds.