Missile Maker's Progress

In its 1952 annual report, Douglas Aircraft Co. this week lifted some of the secrecy surrounding hush-hush projects. The company has put two guided missiles on an assembly line and production is up 60% over 1951. It is also spending "hundreds of millions of dollars" on 15 other missile projects. In the commercial jet transport race, Douglas' entry is now in wooden mock-up and $1,000,000 has been spent on it.

Overall, Douglas had its best peacetime year. Sales, 87% military, were $522.6 million, more than double 1951's $225.1 million. Net profit was up ($10,792,285 v. $6,912,829 in 1951) along with dividends ($3.75 v. $3.50 in 1951). Only ratio of net income to sales fell, dropping from 3.1% in 1951 to 2.1% last year.

In its backlog of more than $2 billion, Douglas has contracts from 15 U.S. and foreign airlines calling for 114 four-engine airliners, including 58 new DC-7 transports. Bigger, faster (cruising speed: 360 m.p.h.) and more powerful than Douglas' DC-6, the long-range DC-75 will start flying in March.

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