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and beverages $84,832,829 against $55,-
754,805 the year before. Other operating
departments contributed $15,059,221 to1
revenues, compared with $10,623,234
in 1954. Store rentals accounted for
$2,460,510 of total revenues, compared
with $1,797,463 a year earlier. Other
income in 1955 amounted to $4,362,857
against $2,373,050 in 1954.
Earnings
After all charges and taxes, consolidated
net profit of Hilton Hotels Corporation in
1955 totaled $9,104,760. This is a gain of
59% over the $5,738,073 consolidated
net profit of 1954. After preferred dividend requirements, the 1955 net profit
was equal to $5.04 per share on the
1,720,239 shares of common stock outstanding at the year end. Net profit after
preferred dividends in 1954 was equal to
$3.26 per common share on the 1,648,760
shares outstanding a year earlier.
Of your Corporation's consolidated net
profit, $8,002,259, or $4.40 per common
share after preferred dividend requirements, was derived from operations. This
compares with $4,822,070, or $2.71 per
common share derived from operations in
1954. Profits from the sale of properties
accounted for $1,102,501 of consolidated
net profits in 1955. Amounting to 64
cents per common share, this profit compares with $916,003, or 55 cents per
common share, realized from the sale of
properties in 1954.
On December 29, 1955, your Corporation sold The Jefferson Hotel in St. Louis,
Missouri, for $7,500,000. Your Corporation realized a profit on this sale, after
taxes at the capital gains rate, of
' $2,619,294. Of this amount, $457,037 has
been included in 1955 net profit and the
balance will be applied to the income
account of future years.
After the close of the year your Corporation entered into a contract for the sale
of all the capital stock of Hotel Roosevelt Corporation to Hotel Corporation of
America for the sum of $2,130,000, of
which $750,000 was paid in cash at the
closing on March 1, 1956, and the balance
is represented by a note guaranteed by
Hotel Corporation of America, payable
in seven semi-annual installments of
75,000 each, with a final payment of
55,000 in 1960. Dividends received
prior to closing and other adjustments of
current assets will produce an additional
$650,000. The profit on this sale after
taxes is estimated at $1,850,000.
At the same time a contract was entered into between your Corporation and
Hotel Corporation of America for the
Income profits and dividends
///ions of Dollars
190
180
170
160
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