LogEtronics, Inc., a Springfield manufacturer of graphic arts and photographic equipment, yesterday reported a substantial increase in thirdquarter sales and profits.
Earnings totaled $266,000 (26 cents a share) compared with $72,000 (7 cents) last year as sales increases to $4.5 million from $4 million.
For the first nine months of 1977, profits rose to $531,000 (53 cents) from $178,000 (18 cents) and sales increased 22 per cent to $12 million.
Chairman Gordon O.F. Johnson attributed the recent gains to strong sales of an automatic film processing machine in domestic and European markets. He also announced the election of William K. Marrinan as president and director. Previouslyu, Marrinan headed Terminal Communication, Inc.
CACI, Inc., an analysis and reserch company based in Arlington, reported that profits declined in the year ended June 30 to $282.889 (28 cents a share) compared with $316,945 (31 cents) the previous fiscal period. Sales rose to $10.2 million from $7.7 million.
Federal Realty Investment Trust, of Chevy Chase, reported third-quarter profits rose 49 cents to $373,483 (27 cents a share) compared with $251,395 (21 cents) in the 1976 period. Nine-month earnings rose 55 per cent to $1.17 million (96 cents) from $754.266 (77 cents).
Wapora, Inc., a Washington pollution control consulting firm, reported profits of $92.092 (15 cents a share) for the fiscal year ended June 30 on revenues of $3.59 million. Last year the company made $86.278 (14 cents) on revenues of $2.95 million.
Computer Network Corp. reported its best quarter ever, with revenues up 125 per cent and net income up 89 per cent for the period ended June 30.
Quarterly revenues were $3.38 million up from $1.5 million for the same period a year ago. Profits reached $295.000 (26 cents a share) against $156.000 (14 cents).
MCI Communications reported second-quarter operating earning of $463.000 (2 cents a share) and net income after a tax credit of $541,000 of $1 million (5 cents) compared with a net loss of $251,000 in the same period lart year. Quarterly revenues totalled $19.9 million compared with $15.9 million last year.
The Washington-based communications company also reported operating earnings for the first six months of $931,000 (3 cents), a tax credit of $949.000 and net earnings of $1.88 million (8 cents). In the first six months last year, the company lost $3.5 million. Revenues totaled $35.6 million in the first half of 1977 compared with $28.7 million in the same period last year.
Heck's Inc., a West Vriginia-based retailer, had third-quarter earnings of $1.9 million (31 cents a share) on sales of $54 million compared with $1.5 million (24 cents) on sales on $43.6 million last year.
Nine-month results totaled $4.5 million (73 cents) on sales of $144.9 million compared with $3.8 million (61 cents) on sales of $125.9 million in the same period last year.
United Services reported a 39 per cent increase in operating gains to $1.7 million in the recent quarter compared with $1.25 million a year earlier. For the first nine months, net gains were $4.9 million ($1.56 a share) compared with $4.2 million (1.34).
McDonald said he was optimistic about the future of the trade talks the first multi-national attack on trade barriers since the Kennedy Round of the 1960s, that focused mainly on tariff barriers.
While tariffs remain a major item in the current round non-tariff barriers - such as quotas - are more serious impediments to free trade and are often harder to police.
"Quite a bit has happened in the last five or six weeks," McDonald said, as the talks have become unglued and have started to move on both tariffs and non-tariff barriers.
Last July's agreement engineered by Strauss and the European Community - which settled on procedures and timetables but not any substantive issues - was the door-opener, he said.
McDonald noted that the talks must move quickly because rising protectionlist sentiment here and abroad will make it politically difficult for governments to approve sunstantial reductions in trade barriers.
Smithfield Foods, Inc., a Virginia meat packing company, reported third quarter profits of $310,000 (12 cents a share) compared with $211,000 (8 cents) in the 1976 period. Sales rose to $36.5 million from $35 million. Nine-month profits were $1.3 million (52 cents) on sales of $109 million vs. earnings of $493.000 (19 cents) and sales of $103 million.
New Virginia Bancorp., which owns Northern Virginia Bank of Springfield, said its net for the nine months was $989.688 (83 cents a share) compared with $884.654 (79 cents) last year. Total assets increased 13.5 per cent to $136 million, total deposits grew 13.4 per cent to $125 million and total loans rose 23 per cent to $75 million.