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Earnings

October 24, 1985

Todd Shipyards Corp. reported a loss in its second quarter, reflecting resolution of a dispute with the Navy over workers' compensation insurance premium costs, increased costs on certain recently completed fixed-price Navy contracts and a strike at its New Orleans division, but said it will be profitable for the year as performance benefits from profit improvement actions under way and approximately $360 million in contracts booked since April. Sales for the 13 weeks ended Sept. 29 were $102.7 million, compared to $128.6 million in the same period a year ago. The second quarter loss was $4.3 million.

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