Coldwell Banker, a Los Angeles-based financial holding company which owns Coldwell Banker Commercial Brokerage Co. in Washington and Routh Robbins Realtors, announced an 85 pr cent increase in earnings per share for the fiscal year ending June 30. Earnings per share rose from $1.64 to $3.04 for the year, including an increase in the fourth quarter from 70 cents to $1.38, the highest profits for any quarter in company history.
Profits for the year totaled $6.2 million on revenues of $144 million, up from $3.3 million on $99 million in 1976.
C.W. Poulson, president of Coldwell, said that all major sources of revenues increased sharply reflecting favorable real estate market conditions.
Washington Real Estate Investment Trust reported higher second quarter profits of $2.2 million ($1.48 a share) compared with $629.000 (43 cents) for the same period last year. For the six months ended June 30, profits increased to $2.8 million ($1.87), up from $1.2 million (83 cents) last year.
Included in the figures is a $1.6 million gain from the trade of a Washington apartment house for an office building also located in Washington, the company reported.
Hazleton Laboratories Corp. showed record operating results for the year ended June 30. Revenues increased 21 per cent to $24.3 million, with a 30 per cent profit increase to $1.0 million. Earnings per share increased 21 per cent to 64 cents.
American Health Services Inc. reported a sharp jump in profits to $449,000 (53 cents) a share on revenues of $5.2 million for the third quarter ended June, compared with $160,000 (19 cents) on $4.3 million last year. The quarterly increase is primarily due to a new 180-bed general hospital financed through tax exempt revenue bonds in Richmond, Va.
Nine months earnings rose nearly 61 per cent to $597,000 (70 cents) on revenues of $14.7 million, compared with $364,000 (43 cents) on $11.3 million last year. AHS is a Washington-based company which owns and operates health care facilities including general hospitals, pyschiatric hospitals and nursing homes.
The Limited Stores Inc., a Columbus-based chain of women's fashion specialty stores with shops in the Washington area at Landover, White Flint and Seven Corners shopping centers, reported record results for fiscal 1977, ended July 30.
Fourth quarter profits rose 82 per cent to $2.3 million (28 cents) a share from $1.2 million (15 cents) last year. Sales climbed 73 per cent to $30.5 million from $17.7 million last year.
For the year, profits increased 75 per cent to $8.3 million ($1.03) from $4.8 million (59 cents) in 1976. Sales rose 70 per cent to $117 million, from $68.9 million last year.