HP HP-Measure-1965-01 free download

File name HP-Measure-1965-01.pdf

UR JOHN WAR~INGTON SA PLE ELECTROJICS -VIC- PTY. LTD. 9-11 CRE ORNE STREET RICHMOND E. 1 VICTORIA. AUSTRALIA I Deleon's Silent Science Loveland in perspective www.HPARCHIVE.com from the chairman's desk W ITHI A FEW DAYS we will issue our annual report to stockholders covering operations for fiscal 1964. It was a good year for the company, with sales rising Another primary objective in 1965 is to achieve a substan- tial increase in our over-all volume of business. To do this, we are going to have to increase the flow of new and im- 8 percent to a level of $124.9 million, and incoming orders proved products from our laboratories, and get these prod- totaling $130.4 million, also up 8 percent over last year. The ucts into production with greater speed and efficiency than profit picture improved considerably over 1963, with a net ever before. Moreover, we expect our field sales people to do after taxes of $9.4 million, an increase of 29 percent. a more effective job of expanding existing markets for our We were especially gratified at the improvement in our products and tapping new markets, as well. after-tax profit margin from 6.3 cents per sales dollar in 1963 During this next year we will place increasing emphasis to 7.5 cents in 1964. This is largely the result of your day-to- on diversification. With the slowup in defense spending and day efforts to reduce costs and do a more effective, produc- the expectation that the government will continue to curtail tive job. or modify many of its programs, we are working hard to As you know, we spend a great deal of time talking about broaden our base and expand our technology into new fields. profits and their importance to our future growth and prog- We are doing this through our internal research and develop- ress. Without a satisfactory profit level, of course, we would ment program and, in addition, through acquisitions where be unable to build the new facilities, buy the tools and equip- we think they will enable us to enter new fields or markets. ment, and provide the other necessary ingredients for steady, While we are attempting to increase our penetration of long-term growth. commercial, non-government markets, in no way do we Prof