GULF AND WESTERN <GW> SEES RECORD FISCAL YEAR
Gulf and Western Inc chairman Martin
Davis said the company will report record results for the
current fiscal year.
    In its last fiscal year ending October 31, the company
earned 228.7 mln dlrs, or 3.66 dlrs a share, on revenues of
2.093 billion dlrs.
    Earlier the company said its second quarter net rose to 86
cts a share from 73 cts a year ago. Davis said the company's
Paramount Pictures Corp had strong momentum, and a substantial
contribution is anticipated from the company's publishing
operations in the third and fourth quarter.
    Davis also said steady growth is expected in financial
services operations, bolstered by the acquisition in May of
Fruehauf's truck trailer financing and leasing business.
    He said the company's entertainment operations should
benefit significantly from Paramount's two major summer motion
pictures, "Beverly Hills Cop II," which grossed 65 mln dlrs in
its first 12 days of North American distribution, and "The
Untouchables," which opens June 3.
 Reuter
