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CGA Annual Report, 1975 (source cover not available)

CGA Annual Report 1975 - Computer History Museum · MET REWUa OF ammm I aRw mmt . il ' #B11,@9 BEt,IIMG'I @EN&#& AND A~&IM ,- q I v ,, A! 7 .LLs. I I' & I. - , 2.8 '7

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Page 1: CGA Annual Report 1975 - Computer History Museum · MET REWUa OF ammm I aRw mmt . il ' #B11,@9 BEt,IIMG'I @EN&#& AND A~&IM ,- q I v ,, A! 7 .LLs. I I' & I. - , 2.8 '7

CGA Annual Report, 1975

(source cover not available)

Page 2: CGA Annual Report 1975 - Computer History Museum · MET REWUa OF ammm I aRw mmt . il ' #B11,@9 BEt,IIMG'I @EN&#& AND A~&IM ,- q I v ,, A! 7 .LLs. I I' & I. - , 2.8 '7

DIRECTORS

Betnard M. Goldsmith, Ill Lawrence S R05,inson Joel M. Handel

CORPORATE OFFICERS

Bernard M. Goldsmith, Ill, President, Treasurer Lawence 9. Robinson, Vice President, Secretary Joel M, Wandel, Assistant Secretary

TRANSFER AGENT

FidRtlity Union Trust Company 765 Bead Street

' Newark, New Jersey 071 01

Sax, Macy, Fromrn and Company 1200 U.S. Highway 46 Clifton, New Jersey 0701 3

Uphami, Meeker % Weithorn Crirysler Building Ndw York, New YO& 1001 7

SHARES TRADED

Over the Counter

A copy of the annual report lo the Securities and Exchange Commitsi~n;l Form 1 OK, is availabk on request from the company. ,, i

Page 3: CGA Annual Report 1975 - Computer History Museum · MET REWUa OF ammm I aRw mmt . il ' #B11,@9 BEt,IIMG'I @EN&#& AND A~&IM ,- q I v ,, A! 7 .LLs. I I' & I. - , 2.8 '7

. ThU $&sr aaw emphadr on bf$linW 9 dtteng ma&t.ing organham and on dewrl&plG a. ~ h i c l o e l : mattamemt @@u&dp 4@ Insure !he gukliP/ i f ~ ~ ~ c o n ~ r t q l +n,m&&i.. Qui lmsnogpmp% team wc)s. t?$rengthe~@ thpx~gtr IW -aQlilion bf

, .E31i$f 4. g y&b 18 rwppni(ible W ail'ai auf @nwI,mg a&@ghments. A in&* - ' p~qN/flrt qt$f3~pd @ gwam qua& a ~ , ~ l l r ~ & XI I ~ W ~ l f ~ O l k . ' T h i ~ pas# wls -1 t ikd $gr Mi~Pqdj k%i wi@~+.pn@r J his: praiabnl~ti had. !men + vieat ,k,qader M#&

a

' . , , . . 4 ' :

,, . , 8 ' I .

1 3 > ' - * I I ,

Page 4: CGA Annual Report 1975 - Computer History Museum · MET REWUa OF ammm I aRw mmt . il ' #B11,@9 BEt,IIMG'I @EN&#& AND A~&IM ,- q I v ,, A! 7 .LLs. I I' & I. - , 2.8 '7

MET R E W U a OF ammm I

aRw mmt . i l ' #B11,@9

BEt,IIMG'I @EN&#& AND A ~ & I M ,- I

q v

. . < . ,, A !

.LLs. 7

. ,. I I '

& I . - -

Page 5: CGA Annual Report 1975 - Computer History Museum · MET REWUa OF ammm I aRw mmt . il ' #B11,@9 BEt,IIMG'I @EN&#& AND A~&IM ,- q I v ,, A! 7 .LLs. I I' & I. - , 2.8 '7
Page 6: CGA Annual Report 1975 - Computer History Museum · MET REWUa OF ammm I aRw mmt . il ' #B11,@9 BEt,IIMG'I @EN&#& AND A~&IM ,- q I v ,, A! 7 .LLs. I I' & I. - , 2.8 '7
Page 7: CGA Annual Report 1975 - Computer History Museum · MET REWUa OF ammm I aRw mmt . il ' #B11,@9 BEt,IIMG'I @EN&#& AND A~&IM ,- q I v ,, A! 7 .LLs. I I' & I. - , 2.8 '7
Page 8: CGA Annual Report 1975 - Computer History Museum · MET REWUa OF ammm I aRw mmt . il ' #B11,@9 BEt,IIMG'I @EN&#& AND A~&IM ,- q I v ,, A! 7 .LLs. I I' & I. - , 2.8 '7

, 2.8 '7 . ' / .. . - . . , ' 1- ..;. . - , , ,.' . , . > C . ' t .

3 - - - ' . , *d ; . , -

, + \- - I ", , . 4 , - + ' . ' ,$, F . '

' . \ - 4 . -.. 1 . 1 #,', 1 , 1 ..: t . - :.# 8 , 2 - , - : r .

. I . . ,- 8

< . - 3 , k - -' I

' r ate _ ,i ,- ~UMMW .@F ~ L C ~ # F ~ C & W ~ &t$~imI~fhll@ B'Q:~ilk& 1 ; r' ) ". . . , - , , r - , C - , + A - .~ii&iipk& of &pan i i i< - .~~ halinandd a t ~ m * ~ s f ~ & i u k . t h ~ d&u&,@he cbmmY 8~1~~1 hi s u ~ s i & i @ ~ ~ ~

The Scdtcn Qmup, uhioh ~s dizunlihusd in-Rvgbl@ 1973. 4$11 hwp~~ l l l pany tmo24;apttb~$ ahd. b e W & - ;. - . * . . , . . h ~ y e f beem &filmkslw. Ss~'Saota P 'bql~w. , - , , , s + , 7 1 - ~ 1 . I , , . , , .. . +

- < , O.: MsrfkwWs ?3mgrllle~ - . M q k e M * mirWep gw mt~8;1- at cd..khioh ap$mx[~&~ ,h&&, ... - 1.. . -

G. RWimhles akd L d hB@s - l i is the Cmppany'd policy to 6eserve far a ~ w p c f s m$sj6erd i@ h4 unadl~b;le.'~a,~@gerv@ uves requirt& at A p I 38, dB% and )i3?4.- V . I

Dr. EqLcip~mt, Iprllrov@rnmts and ~OeproaVaIjon - EQuiprnenf, and \ rng~@~~tmhi $w miid ~t Deqwmistin and hwrtkatf~m a i r r e E*157a.fg@ apaind i ncah~ w &shYght-li~baWs QYP~ the estirnat,ed ~s&OP ~

I - ,iiv& d I$$ '&iseW $S X@llov&: . ~ . , t

' Furdture and ;Eqdpmsnf 5 yoaw I S I C & a ~ ~ , l d ~lbpa'ocprn~~t~ , I. 8-1 0 yedrs ' ' ) . -

kh&mnm an61 repair &p@ndibqre& ehargM To appmpr*id@ m p ~ l ~ e e acctatrnts h the @aodd1rnur~d; mpleciemcsnt, f~nava;b, and bmmnTe are [email protected] #hen, bq~atpfnmt asrd i r n p ~ ~ ~ ~ m ~ d .are retired @

, ~therdsg ~lspof%f$ @I, the cxM and &qwrn~la&IE9 ,dep@*~an ih re~ped IQ SU;G.JCI pmp@!%@s are $Iimiryte$ ' frm@ the meQunls qnq t k gatns or Ieasse~ 'fh&r&on &E& r@fIEi;STed in i n m e ,

- E. ~nwstmbnt ax radii - ,invmt.mrrt tax; credware watd,as e rdvewn crf @ I ~ ~ B X P ~ hsbme tag wxPa&in th%,y@ar In wMcl.r the r&.l@t&d asset8 aye pkmd in ~@W'fce. THts ~ m y f l t of 8uch amdYt8 W.I?-f8 8& signiTjclqtff3r

yaanoen&d &if1 W, It975 ~ n d 1934 ' .

F. D ~ ~ T R B A f i p q w - Detelred expense repreysnts costs inaura in ,me ar~gina( i s s ~ a n ~ g af i f i ~ 7%,~~mrertlbk .s.ub~rdEn&ed deEbsn1Wre$ which kqve'b~prr as~urned by the Gamprq u$~mrfhe rnwggniz~~m ~f~ee~dates 2 and 81, ~ k e m ern@ F$FB $e/,ng arn~fiiza awqf th6 1 j f e ~ ~ ~ 1 ~ deixmtci~m thrc&gtt ~,ugiy& I 14, j ~ 9 , .

Q, Profit Sharing Pkn - Durdmgc 1h.e year ended ApiI.3Q, f975,lrhs Cbmpany mhblished -zr *p~afii.dharing plan' '

~a~erlrsg suB$a~%kEly 1 af 418 .eh@gywsh The inmawrn d tke arsoud profit *&h#fImg plan timtiibuti~ is dw'~rfz.tiarrary ~ 4 t h the Comgamy: The Gcmpanyb p~lEky 'la to fund gkafit sharing ~mtAbutiu3ns B C C T I J ~ ,

Noted -. ORGPrNlZBiTlOfi AND WEORG&PIIZRT l6R I # I

- me Gornpany, a Ddawara' air;porsttti~i w2a intrttt-pocaw an ~ p s y . 3. 'i 973. ~virtl auth~r~zcttfon to is~m 1 .Q@2,0i[r0 shres af oomrnsn arwR haurhg a MI value @f 4.1 6 pler ~.h&re. By an ~ r e ~ n e n f dated Mlay 1,1973, %he Coinpny O~vsaed 3DO2QQ srhprw d Rs common to GBA Gamputcsr A3soclatw, Inc,, a .Flew Yark carpwaflen, ,in ex&hiang$ for We l&@eb$ aornpuar st&~re ~u9iinestss srrd %he wsl& and aiabflj4)es por;t@i?=iing , th&refio.Ths aaok wassubsequ~nt~dO@rfbuted by thi& NBW Ycick &xpgwf~fbm as 8: di;~tlitSutkm h kind to iis stmkhafd~rs & rre;r=wrd m June 28,1974. . , The n& $wK v@lu@&~t"h.ea~81~&n@ Ilataitlfiesaequir~drby.tlheI=empany on M q 5,1973 $l"1@@7.*CMthjs r m o w $SB,OZfJ pas .crer~iI&d ita '"Cmmbn 6ta6k''vknd $1 37,007 *was o t e d i ~ to "'afid~nt C(infribjcd in Exem6 of Pa{ ~ t u e " , Iholuded, in t b ~ &%3&@ acqoimd wi f;hs lta~&ak 01'The &ttm Qmup, Ine., afl er%i%g enga@ 'uri fhq ram#ment and pbmment d~aonjputef~rsqfllliel, On May I . 1 E173,Th~ Sultan Grwp had

. d e f ~ ~ & $~B&-M@ m%b inthe amunt & $21 563. In q y g ~ l t 1 9mq o~r"s1ans of Ths Su2.f.m Qrwp Wfe d4lj9cmtjmued ind ttlj8 opefatin@ Iws $rtmlVr& dim~n'tin~u@d &ubsEdiwy, in~luding the write-off at the cl@%apd &aut;-up CPSOS;~ wag $21 , S a t net M Yfh~ rinmme t@x eff$~t ,pf @? ep? 00. ' , a

, .

Page 9: CGA Annual Report 1975 - Computer History Museum · MET REWUa OF ammm I aRw mmt . il ' #B11,@9 BEt,IIMG'I @EN&#& AND A~&IM ,- q I v ,, A! 7 .LLs. I I' & I. - , 2.8 '7

\

I tiIa#e 5 - tNr;;C1M'E TME% I n m s t~m f ~ i j s r tM gwn amdd April 3@, 1975 sPEd 1874 a n all wmt3tly g~wbte and we wrnmrised ad ~QJ~BW: . -

" I

' ' ' 1 .,1 L * - - f \ ,

b t b 6 - LON@--TERM DEBT I EfleoNue May l , 1 67h upan &ganbtion as dwnltisd i k . ~ o t e 2 #m!*l the ~ ~ n p r n y asaums(l an cbdga~n

?a p y 7% c m % l s ahrCfinalM demgms, dusA@Just 14,1978, in the om~2urt d $1 a3,QOO. To cover t h ~ obwim W the & ~ W I F ~ , the iC;;ompany iswed t~ the seller ar 7% prorrr~ssrs~ nf3e papM@Jw 8103,000, Wer w W.89.m &B ag; th%, d&Wrrtufi@s.

y reg'i&md $1 WQOQI of t% wnwfli&k ~&wdindW $&enlu'rm amd Isaued WY- orni~mry wte~ed'the pnNmerfcrE,1.t~tim, f he &bntwes am due 82ynud 61g.26 p$ d o~lmn Rock The Gomprny is Mf r.ryq&rrrl to mintah a VIB ~$'EEtwht af d&IPCS;ntw9~.

8 ',( Nora 7 ' PRRFlT S W ~ ~ ~ ; P @ M ~ ' I /

€30 hbnylr 1 $ q , '.u* ~Cpmds& estalrlishect' a mil h d ~ p plan, M4rtt1w May 1,11874. covsring ~bM$fi%'* @I .W & @t@1&1$~@&.

'

~ o t i l pi^ MA$'&s@*&RI ~i l i&a1 $t$qk&Wi April 30,1875 amountd ta t55,OW. fhe m w n i o( Una cofit~lhutloni$ f@r -any ykiqt iq @s.crMwaw wiuv tfis C~fnpctny.

N- 8 - C O F ~ / ~ P @ M ~ ~ AM,@ WNT~WQENCI~%~ : The Ct;8hprcl@iy mts its pfsi@n# @ h e fgcflitgs:uW, l w agmmt w r i n g qn hday 31,19791. The l~dllsft

I ,. I a(gpmmni spwbim dl jniqh ~enwk twhfq3 be ihMmm@ in faxla 4rsd maiakmd eMs. T& F'e~rrt ;BFJM~B inqtuw in the stilemm' of ~ M m e I ~nd(ad AM '30,1975 w-rs 6 I 9 , ~ 3 , @~rnafi~exp@w& @? tw pr~vslcrh 6fWe fwi4itSgr for l&e ril30,1SB4 wm $3B,W.

. The midmum re'~t11~wmrtliitrqef'It rUfl@K tbt$ YeiaBt3 &$bf&d &o'ue 18 84s t r l ~ ~

, ' I

11 8% 831 390 a 979 ' 2t7w0 f O7B #'I ,%xi

,1979 nr 1 9*w 1,@2 ,

Naie 9 - 8TOCSI(. OPTIONS: An cption to purchase 2Q.W share6 af the Cunnpany" $cornman stock, gr@naud k, a d i m & d the m m r c@tporatitm, amigne$ by the holder b asr mtity n ~ l Wmd to fht CmQxwy. The opwn gqpwrt: qpmifkft fhat tho aptions may tas emeoiw&l at $.75 pw 'bhaw, 1ubp3 tk3 adj~~9tmmt fw future dvidendqaM adalitioml $haves issued. Theap1:im expires June 25,113. Us optim w e mrciaed during the ytwm ended April $0, 1 975 and 1 974.

Wtw 1 b - M l W P S I SHARE: FMw . , . c s~~rn i r~$ per arfi~re wre ciamputed' on the bwis iEIf 3fXlBOO $t;r.$fes out@ndtn@ during bath years. h~ I mrglnge per stwire wre computed on the msumgtinm that the 7% cnnmrt4ble debentures ware

bwinning of emh y a r , theray rosul2i~ug in rha isemcre @f f@,IIXI adtYiti6nal ahares with a bra^^ in hood intwest ~qpgflw, mt d Cw& the~mn.

Page 10: CGA Annual Report 1975 - Computer History Museum · MET REWUa OF ammm I aRw mmt . il ' #B11,@9 BEt,IIMG'I @EN&#& AND A~&IM ,- q I v ,, A! 7 .LLs. I I' & I. - , 2.8 '7

, > j 1- , r ; ' ~ ~ ; i ~ ; , : ; + ; \%<',.Y, ;, ~ ~ r , ~ ; ~ ~ ~ ; , , - ~ ! , I;~-i~',.' 4 'q(!-q' -'Zi ,-qr ' ,; bn 14 A t , I.-+,.O~ , 'y "7

, , ;'; P , ; b ;. ;;#(( <I- - , , , . , -. . t i v *;;,,;:,.?): 4 4 ::, . -,*, ;"',./ ,' . + # ! 1 ,-.; < .+'>7 :+8, ,.,,4;d+ - , . , . , $jp /,, 8 l ;fflb$$hp&x , 1 L I ~wl,pl~~~~~~j,6$e&Jwkwg+!$~ . . - , I . . \ :.i r Jd3%r

, ., .. 6 ;,!, ,.m , . I ' f L , - ,< * > '">-*I , , A r I , , , < I - < ( 8

, f \ , - , ., , . 8 3'':,..d .2,\,>,8 ,,,, -. 1 'bk ~ei&'i;e6t&d'i~ b@!efi@ bf :~~&'b~$~3f~~:1&s6dhh~g ib&r[@b ; (

, h bf ~brll30.' 1 RTS .and ths ~$!gl@d 'stafemhnta ,& i k & ~ ~ i&n& &~ib@@;an# . I

- ,, : .I ~hilngbs iri t i nh i i t ~ai~r ion for )he year thtiii eirdkd.,agr b-hir(atio+ &;st & k 8 - ,. +

accoqd8'oce &if6 genefall$ sc~epted a ~ d i n g s w i d a ahd kdcordlngly[noliiifl&dldl .:. I buco -&@5 of the s~countlng redords and such' other auditing b r d a ~ u r s s as .w.

consideled necessery in the oinumstanwts. ~ h s financiai statements + WA. ' .; mmputer Amociates tnc. (DeJ.) for the year'8nddd Aplit 30,1,9?31,&ere examioed;&: .:.

, other puMlc '~coountants and are presented fur'eorpparktive 'purporres only. ' 8 : .J . In ow opjnion, the aforementioned finandial\ mrarnents present i r t y ' lh(i

fhancial position of CGAi Camp~ter Aswdates Irrc. (Del.) ,ataApfil %I, 1 975; and thsi ' . results 05 Bs. apefalions and changes In Its flnancfal pmiir-an for Ihs year theq ended' '

~anfar@Qf with gerl@t"alty aeciipted acwunting princlplea appticsd an a $@&is. ~onslstent with that of the pre~edrrg year. ,

w, MACV, FROMM arrdTCQ;,, Certified 'Public A~o~untarrtis

I '

Clifton, New Jersey June 12,1975

M N U E 8 : Revenuee oontMwW So incr.ea80 as, P e ~ y ham aver, the last 5 years; Ths inarms= are In line with the ~ r m b axperimcd aver the laaf 5 years. .. The ipcfealjes over the yeem @dm $s dtrec4;tiy attributed to euf abEXlty lo der our ~ervica~ mare .ctEerits4 &kg of softwitre pmdueta and recruiting s r ~ r v i ~ e ~ . in 1 975 accoulnted tor 2% af tha prms r&venu;e, whse in h e past fears this nab& canau(th7g rslyenua W ~ Q Ind~njfiaM*

QRUSS PRQFIT: Tho ~ r m e profit fi.zsrgln imfmmd to 492410 In 1 976 from 3BW in 1 -9J4. T hi8 in- ,

w s ,due ta OUT abilby 19 kesp our stan mernbn a~tively isngagd . . IfrroughW the year. The Inmass in nan conaulthg revanwe also positiwa-ly affe~ted the gr:88s profit rnagln

NET INGOME:. C~nsister;rt with S~Q?.P mt aper%lfSng 'Income wnltinmd to grw. Incmitse to $290,818 In 1 B75 as cornpartad te $87,~1&$ In 1874,#s not an $mudab pkfwse a s net oparafinQ'incorn& in I974 we$ reduced to $87.4334 By2 mn-recurring , ifems af $25221 for the ecas't ,F).f ihh.astotaek dktributlan md.d of377,837 due sb the ,aMndanernent at leasshoLd8, ,

I

Page 11: CGA Annual Report 1975 - Computer History Museum · MET REWUa OF ammm I aRw mmt . il ' #B11,@9 BEt,IIMG'I @EN&#& AND A~&IM ,- q I v ,, A! 7 .LLs. I I' & I. - , 2.8 '7

The bliQWing five year summary of operations is presentea as if the business of the predecessor entity (prior to May 1, 1973Jhad m n aperatled by CGA Computer Associated Inc.(Del.) for all the indicated ,periods. Certain pro fdrma adjustments had b&n *ads to historial net income for the periods prior toMay 1 ,1973, eliminating interest income or expense on assets or li@il!tjesl not a'swmed by the Company. ,

I I

For the Years Ended April 30 1975 1 l 1973 1972 1971

(Mot Covered By Accountants' Report)

Interest Income Intereqb E~pense Other - Net

1 NCOME TAX€$ INCOME FROM CONTINUING OPERATlQNS O P E R A T I ~ S OPJ DI~C~QTINUEQ

SURSFDIARY (Net of Income Tax E h t

INCOME BEFORE EXTRAORDINARY lf EM E X T R A O m ITEM

- -- lncome Tax

Bendit from Carry-Fdrward of Net ' Qperatln~ Lose

HISTORICAL NET INCOME -A-s OR(DEDUGTJON@) PRO _FORMANET INCOME - HISTORICAL PER SHARE EARNINGS BASED

ON 300,200 S H A ~ - Iruoome from Continuing Opratlone Operating Loss on Dlsconlhumd Subsidiary

Extraordinary Item HIstOrlcal Net lncome

P R ~ FORMA =MARE EARNINGS m-8 ~ o o , ? ~ ~ A R E @ -- ? < I ,

&& UtLLJTlON, BASED , I#, ,, /;'j i $HAREsU $ ,43 $ 48 $ ,22 ,>l/,ji'\ll 4 , ' l [ , j 7 ;;lili, ;;!,I I;,,

il:, , , I , *,,, 4, , , , , 1 , 1 , I

uumer convetrAon of the 7% ~0"mrtible debenturn at the beginning of the year. Conw- umed to have'bwn converted, 82,400, were,added to the weighted average numberofcom- rh6r)l net income was adjusted Eo ellmineb Interest on theae debentures, net of applicable in-

@gin 1972 rhd 1671, fully dlluted earnings per share on pro forma earnings are not shown be- mveralorc trr anti-diluliue.