Business has been good in recent months for a batch of Washington area technology, research and professional services companies, according to quarterly and annual earnings statements.
One exception is Survival Technology, Inc., of Bethesda, which yesterday reported a loss of $1.6 million in the year ended July 31, despite a substantial increase in sales. Accountants for SurTech qualifed the firm's annual statement because of a cloudy outlook for profitable operations and needs for new capital.
Radiation Systems, Inc., and antenna manufacture based in McLean, reported a thhird consecutive year of higher profits. Earnings for the year ended June 30 rose to a record $628,000 (81 cents a share) compared with $512,000 (69 cents) a year earlier. Sales increased to a record $5.1 million from $4.7 million.
President Harry Letaw Jr. said that because of tax benefits, the recent year's earnings were only partly subject to income taxes; if fully taxed, earnings would have been $573,000 (74 cents) vs. $262,000 (35 cents).
On Sept. 28, Radiation Systems purchased 75,000 shares of its stock from Greater Washington Investors, Inc., for $187,500 ($2.50 a share), with the local venture capital firm receiving an option to repurchase up to 75,000 shares through next June 15.
Scope, Inc., a Reston electronics firm, reported record profits for the nine months ended Sept. 30 of $1.8 million ($1.53 a share) compared with $1.5 million ($1.29) in the 1976 period. Revenues rose to $20 million from $25 million.
Chairman William C. Schaub said new orders at most subsidiaries have been strong and he forecast continued growth into 1978.
Schaub also revealed that Scope's National controls, Inc., subsidiary in California has agreed to buy certain assets of Sybron Corp. for $500,000 in cash. Involved are weighing products manufactured in Denver.The addition of the new products is expected to take place on Nov. 15.
In another development, Scope has agreed to sell a speech recognition product line to Interstate Electronics Corp., after an assessment of "market potential in comparison with other company products." no financial details were available.
Penril Corp., a Rockville supplier of data communications devices and producer of electronic equipment, reported record profits of $893.394 (70 cents a share) in the year ended July 31, up 35 per cent from $663.297 (53 cents) a year earlier.
Revenues for the year were up 34 per cent to a record $10 million. Penril declared a cash dividend of 2 1/2 cents a share, payable Nov. 15 to stockholders of record Oct. 31. Semiannual payouts were started by Penril in April 1975.
President Kenneth M. Miller said Penril is looking for acquisition candidates with
o-$12 million of annual sales in a price range of $2.5 million to $4 million.
His company's largest previous acquisition came last month when it purchased Wells-Benrus Corp's electronic power supplies division, in Ridgefield, Conn., for $1.2 million in cash. Miller said that unit should add $3 million of sales in the new fiscal year and he forecast overall sales at a record $15 million.
Biospherics Inc., of Rockville, yesterday reported tripled profits of $461,152 (64 cents a share) in the nine months ended Sept. 30, compared with $149,843 (21 cents) a year earlier. Sales rose 47 per cent to a record $2.31 million.
The medical and environmental products firm said it plants to open a toxic substances analysis laboratory.
Wapora, Inc., a Chevy Chase environmental and energy consulting company, reported profits for the first fiscal quarter ended Sept. 30 of $22,385 (4 cents a share) compared with $3.151 (1 cnt) last year. Sales increased to $902.212 form $901.885.
President J. I. Bregman said the higher profits reflected expanded environmental impact activity, an increase he said should continue for the full year.
Survival Technology, the lone firm with a loss report, said annual sales increased to $6.3 million from $4.8 million. The annual loss of $1.6 million was significantly higher than the previous year's loss of $368.958.
Chairman Stanley J. Sarnoff and president Brian H. Dovey, in a statement yesterday, said their firm was projecting profits for the new fiscal year, because of projected sales of commercial products, such as a heart monitor. In addition, SurTech recently signed a Pentagon contract for other products.
Nevertheless, they added, SurTech has forecast substantial new cash requirements to finance operations and meet obligations in fiscal 1978. A negative cash flow in the recent year and first month of fiscal 1978 has increased short-term borrowings to $1.5 million, they added.
"The company is actively pursuing a variety of possible sources for the required additional working capital," according to the statement.
The major factor in the fiscal 1977 loss occurred in the fourth quarter and was related to high costs under a fixed price contract with the Pentagon, completed in July. SurTech said the higher costs developed because of Food and Drug Administration requirements.
Subsequently, SurTech asked the Defense Department for additional payments to cover the costs. In the meantime. SurTech wrote off the costs - about $700,000.