NEW YORK — Gulf & Western, the financial services, entertainment, publishing and information conglomerate, said Wednesday that its earnings increased by 6% in the third quarter of its fiscal year.
The company said it earned $82.1 million on revenue of $1 billion during the three-month period ended July 31. This compared to a profit of $77.3 million on $829.2 million in revenue in its 1985 third quarter.
For the nine months, Gulf & Western said its earnings were up 8.5% to $162 million on revenue of $2.8 billion. In the same 1985 period, the company earned $177.1 million on $2.5 billion in revenue.
The company noted that its third-quarter 1985 profit included earnings of $31.2 million from discontinued operations--the consumer and industrial products group sold in September, 1985. It said the 20% increase in the latest per-share earnings, to $1.31 from $1.09, included 44 cents per share from discontinued operations.