Norfolk & Western Railway's second quarter earnings slightly exceeded the company's previous record for the period, despite heavy damage from flooding in April.

The railroad reported net earnings of $37.8 million ($1.21 per share) on revenues of $336.3 million, compared to $37.5 million ($1.20) on revenues of $326.6 million for the second quarter in 1976.

The Stanwick Corporation, a management systems firm in Arlington, reported net profits of $2.50 million ($2.34 a share) for its fiscal year ended April 30. This compares to net profit before extraordinary items of $2.54 million ($2.37) reported for its previous fiscal year.

First Financial of Virginia Corp. announced all-time high earnings of $1.6 million ($3.48 a share) for the fiscal year ended June 30.

First Financial also announced a regular semi-annual dividend of 15 cents per share and an extra dividend of 10 cents per share to stockholders of record as of July 15, 1977 on earnings for the six months ending June 30, with distribution at the end of July.

Government Services Savings & Loan reported first quarter earnings of $540,000 (66 cents), up 23.4 per cent from $438,000 (54 cents) for the same period a year earlier. The Bethesda-based thrift institution also announced a quarterly dividend of 8 cents a share to be paid August 15 to shareholders of record July 22.

Manor Care, Inc., the Silver Spring-based nationnal health care chain, reported earnings for the year endedd May 31 of $1.8 million ($1.04), up from $1.4 million (80 cents) for the 1976 period. Revenues were also up for the year, to $30.9 million from $30.5 million.