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Giants prospering in depths of recession. (Polaroid Corp. and Gillette Co.)(includes ranking of manufacturing firms) (Special Edition: Taking Stock)
Massachusetts may have lost 40,000 manufacturing jobs in 1991, according to the U.S. Department of Labor, but several local manufacturers performed well during the depths of the recession.
Both the Gillette Co. and Polaroid Corp. posted increases in net sales and net earnings last year.
Gillette enjoyed an 8 percent growth in net sales. Polaroid increased its sales 5 percent from fiscal 1990. Fiscal 1991 also saw Gillette's net income increase 16 percent, while Polaroid's net earnings increased a whopping 353 percent--with a caveat.
Last year Polaroid was paid almost $925 million by the Eastman Kodak Co. to settle a patent lawsuit. That payment inflated …
