Westinghouse Has Profit Increase, Revenue Gain

Led by gains in its broadcasting and cable-television businesses, Westinghouse Electric’s third-quarter profit rose 12% to $148.6 million on revenue that increased less than 2.4% to $2.6 billion.

A year ago, the Pittsburgh-based company earned $130.6 million on revenue of $2.5 billion.

Westinghouse Chairman Douglas D. Danforth said the gains were particularly pleasing during a period of modest economic growth. He credited productivity improvements and restructuring of the corporation’s diverse businesses.

Broadcast and cable ventures reported the strongest sales increases in the third quarter and the first nine months. Energy and technology businesses boosted sales only slightly during both reporting periods.

All divisions except commercial reported improved operating profits. The company noted that its effective tax rate for the nine months was 24%, compared to 17.3% in the like 1984 period.