This article first appeared in the December 1971 Flight Test News.

Fairchild Industries reported sales of $188,281,000 and earnings of $4,976,000 for the first nine months of 1971.

Earnings reflected a slight increase over the $4,949,000 reported for the same period a year ago, although sales declined from the $201,850,000 recorded during the first nine months of 1970.

Earnings per share remained level at $1.09 for the first nine months, unchanged from the previous year.

Commenting on recent developments, President Edward G. Uhl said that Fairchild, in anticipation of lower sales caused by continued softness of commercial airlines and aircraft markets, had instituted successful cost cutting procedures, such as reducing general, administrative marketing and development expenses from $25 million to $21 million. Furthermore, sizable savings in interest charges have resulted from a $46 million reduction in bank loans since the beginning of the year.

Fairchild Industries yesterday announced plans to establish a new subsidiary to acquire the assets of the Swearingen Aircraft Company of San Antonio, Texas, manufacturer of the Merlin and Metro series of aircraft.

Mr. Uhl also noted that Fairchild recently was awarded an Air Force contract for 15 of its STOL Peacemaker aircraft. This is the first procurement of a military version of the commercial Fairchild Porter which the company has been building for several years. The potential for additional sales is promising.

Also during the period, Fairchild received a new contract from the Boeing Company for continued production of wing control surfaces for 747 Superjets and won its first substantial orders for food and beverage service equipment for the new Lockheed L-1011 TriStar aircraft.

Development of the two experimental safety automobiles which Fairchild is building for the Department of Transportation is on schedule. The first one will be delivered in late December of this year, and the company’s opportunity to win a follow-on contract for 12 more safety cars appears excellent, Mr. Uhl said.

This article first appeared in the December 1971 Flight Test News.

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