Bangor Punta Corporation 1976 Annual Report
Front Cover, Bangor Punt Annual Report for the Year Ended 30 September 1976. GGA Image ID # 15d50fec39
1976 Annual Report of the defunct corporation, Bangor Punta - a diversified conglomerate that owned Piper Aviation, Smith & Wesson, Cal Yachts, Jensen Marine, Luhrs Marine Group and many others.
![GGA Image ID # 15c94c9344 Bangor Punta Corporation FY 1976 Highlights from 1976 Annual Report.](../../../../Images600/BangorPunta/AnnualReport/1976/01-Highlights-250.jpg)
Bangor Punta Corporation FY 1976 Highlights
Bangor Punta is a diversified enterprise engaged in the manufacture, sale and distribution of and the furnishing of services related to: Recreational and Leisure Time Products, Sporting and Law Enforcement Products. Agrcultural Products, and Industrial Products.
![GGA Image ID # 15c9b4d133 First Page of the Letter to Shareholders of the Bangor Punta Corporation by David W. Wallace, Chairman of the Board and President, 10 December 1976.](../../../../Images600/BangorPunta/AnnualReport/1976/02-LetterToShareholders-250.jpg)
Letter to Shareholders, Bangor Punta Corporation, FY 1976
Fiscal 1977 holds promise of being a better year than 1976. However, as we have seen, decisions of the federal government in the areas of agriculture, law enforcement, foreign trade, taxes and other economic policies could have far-reaching effects on the future of our corporation and the nation.
![Recreational and Leisure Time Products Division of the Bangor Punta Corporation for FY 1976.](../../../../Images600/BangorPunta/AnnualReport/1976/04-RecreationalAndLeisureTimeProducts-250.jpg)
Recreational & Leisure Time Products - BP Corporation FY 1976
Bangor Punta's Recreational and Leisure Time Products Group is one of the leisure time industry's leading innovators in product development and consumer marketing. Its broad product line includes camping trailers, travel trailers, mini-motorhomes, sailboats, fishing boats, aluminum and fiberglass runabouts and cruisers.
![GGA Image ID # 15cd131694 Sporting and Law Enforcement Products Division of the Bangor Punta Corporation](../../../../Images600/BangorPunta/AnnualReport/1976/08-SportingAndLawEnforcementProducts-250.jpg)
Sporting and Law Enforcement Products - BP Corporation FY 1976
In 1965, when Smith & Wesson was acquired by Bangor Punta, the company was primarily a manufacturer of handguns and handcuffs. Thereafter, Smith & Wesson diversified its product base by acquiring Lake Erie Chemical Company — a manufacturer of tear gas munitions, General Ordnance Equipment Company — the originator and manufacturer of Chemical Mace non-lethal weapons, and Stephenson Corporation — manufacturer of Breathalyzer blood-alcohol analyzers.
![GGA Image ID # 15d03284c8 Industrial Products Group of the Bangor Punta Corporation](../../../../Images600/BangorPunta/AnnualReport/1976/12-IndustrialProducts-250.jpg)
Industrial Products - BP Corporation FY 1976
Bangor Punta's Industrial Products Group manufactures industrial ovens, related conveyor systems, industrial engine cooling systems and sheet metal bender machines through its divisions, O & M Manufacturing of Houston and FECO in Cleveland.
![GGA Image ID # 15d07e33a9 Agricultural Products Group Showing Graphic Inlay of Revenus and Profit Contributions for the Past Five Years (Fiscal Years 1972-1976).](../../../../Images600/BangorPunta/AnnualReport/1976/14-AgriculturalProducts-250.jpg)
Agricultural Products Group - BP Corporation FY 1976
From small beginnings in central California, Producers Cotton Oil Company has grown into a diversified complex of agricultural businesses, operating in the San Joaquin and Imperial Valleys of California and in Southern and Central Arizona.
![GGA Image ID # 15d1a4051c General Aviation - Piper Aircraft - Bangor Punta Corporation](../../../../Images600/BangorPunta/AnnualReport/1976/16-GeneralAviation-250.jpg)
General Aviation - BP Corporation FY 1976
Piper Aircraft Corporation, headquartered in Lock Haven, Pennsylvania, sold more than $200 million of its twenty different models in the United States and in 92 foreign countries during 1976.
![GGA Image ID # 15d2d509fe First Page of the Financial Review Section of the Fiscal Year 1976 Annual Report for the Bango Punta Corporation.](../../../../Images600/BangorPunta/AnnualReport/1976/18-FinancialReview-250.jpg)
Financial Review - Bangor Punta Corporation - FY 1976
Net income, including Bangor Punta's 52.2% share of the net income of Piper Aircraft Corporation, increased sharply over 1975 to a record $13,217,000. Highlights of the income statement for both years follow.
![GGA Image ID # 15d2d509fe First Page of the Financial Review Section of the Fiscal Year 1976 Annual Report for the Bango Punta Corporation.](../../../../Images600/BangorPunta/AnnualReport/1976/18-FinancialReview-250.jpg)
Financial Review - Bangor Punta Corporation - FY 1976
Net income, including Bangor Punta's 52.2% share of the net income of Piper Aircraft Corporation, increased sharply over 1975 to a record $13,217,000. Highlights of the income statement for both years follow.
![GGA Image ID # 15d30ce7b7 Bangor Punta Corporation Consolidated Summary of Operations for the Five Years Ended 30 September 1976](../../../../Images600/BangorPunta/AnnualReport/1976/24-ConsolidatedSummaryOfOperations-250.jpg)
Consolidated Financial Statements - Bangor Punta Corporation - FY 1976
Consolidated Summary of Operations and Revenues and Profit Contribution of Continuing Operations by Line of Business for the Five Years Ended 30 September 1972-1976. Consolidated Balance Sheet and Statement of Income, Consolidated Statement of Shareholders' Equity and Consolidated Statement of Changes in Financial Position for the Years Ended 30 September 1976 and 1975.
![GGA Image ID # 15d46147a8 Bangor Punta Corporation Managements Discussion and Analysis of the Summary of Operation for the Fiscal Years Ended 30 September 1976 and 1975.](../../../../Images600/BangorPunta/AnnualReport/1976/25-ManagementDiscussionAndAnalysis-250.jpg)
Management Discussion and Analysis of the Summary of Operations FY 1976 vs. 1975
Net income of $13,217,000 in 1976 was 40% higher than last year, and primary earnings per share rose to $2.84 from $1.99. The Recreational and Leisure Time and Sporting and Law Enforcement Groups recorded increased shipments and earnings. Interest expense declined 28% from 1975.
![GGA Image ID # 15d41b48fb Page 1 (32) of 8, Bangor Punta Corporation Notes to Consolidated Financial Statements for Fiscal Years Ended 30 September 1976 and 1975.](../../../../Images600/BangorPunta/AnnualReport/1976/32-NotesToConsolidatedFinancialStatements-250.jpg)
Notes to Consolidated Financial Statements - BP Corporation FY 1976
The consolidated financial statements include the accounts of Bangor Punta Corporation (the Company) and its subsidiaries (Bangor Punta). except for Prodco Finance Company (Prodco) and Piper Aircraft Corporation (Piper).
![GGA Image ID # 15d498f89e Report of Certified Public Accountants Peat, Marwick, Mitchell & Co., Provided to the Bangor Punta Corporation, Pertaining to their Fiscal Year 1976 Financial Statements.](../../../../Images600/BangorPunta/AnnualReport/1976/39b-ReportOfCPAs-250.jpg)
Report of Certified Public Accounts, Bangor Punta FY 1976
Report of Certified Public Accountants Peat, Marwick, Mitchell & Co., Provided to the Bangor Punta Corporation, Pertaining to their Fiscal Year 1976 Financial Statements. It was an Example of a Qualified Option.
![Piper Aircraft Corporation Colidated Balance Sheet for the Fiscal Years Ended 30 September 1976 and 1975.](../../../../Images600/BangorPunta/AnnualReport/1976/40-PiperAircraft-ConsolidatedFinancialStatements-250.jpg)
The consolidated statements include all the Company's subsidiaries except one insignificant foreign subsidiary. All intercompany accounts and transactions are eliminated.
![GGA Image ID # 15d50c88e5 Listing of the Bangor Punta Board of Directors, Officers, Executive Offices, ad Corporate Information from the Inside Back Cover of the 1976 Annual Report.](../../../../Images600/BangorPunta/AnnualReport/1976/45-OfficersAndCorporateInformation-250.jpg)
Bangor Punta Board of Directors, Officers, Executive Offices, Etc.
Listing of the Bangor Punta Board of Directors, Officers, Executive Offices, Ad Corporate Information From the Inside Back Cover of the 1976 Annual Report. Also Includes Information About Their 1976 Annual Meeting and Information About Their SEC Form 10-K.