Westinghouse operating profit up
Westinghouse Electric Corp. said yesterday that its profits fell 58 percent in the first quarter, but that was because earnings in the year-ago quarter included a $35 million one-time gain from the sale of assets.
Net income totaled $15 million, or 1 cent per share, down from $36 million, or 7 cents per share, in the same period of 1994.
But operating profit rose 34 percent, to $87 million, compared with $65 million a year ago.
Sales rose 16 percent, to $2.02 billion, from $1.74 billion. Orders for the quarter were up 17 percent from the first quarter of 1993.