Westinghouse Electric Corp.’s earnings rose 13.8% to...
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Westinghouse Electric Corp.’s earnings rose 13.8% to $168.5 million in the first quarter. The Pittsburgh-based electrical equipment, broadcasting and defense systems giant attributed the rise to accounting changes. Revenue was down 2.6% to $2.26 billion. The effect of the accounting changes, mandated under federal standards, was to reduce Westinghouse’s first-quarter 1987 corporate revenue by $6.1 million and earnings by $3.5 million.
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