Walt Disney Productions reported record revenues and net income Friday for the first fiscal quarter ending Dec. 31.

Revenues rose 15 per cent over a year ago to $137.12 million from $119.53 million, while net income was 37 cents a share, said Disney president Card Walker.

Entertainment and recreational revenues were up 14 per cent, including a 3 per cent boost in worldwide film rentals and a 5.8 per cent increase in attendance at Walt Disney World in Florida, to 2,363,000 persons. Disneyland in California experienced a 9 per cents a share, from $11.83 million, or up 13 per cent to $13.4 million, or 41 cent boost for the quarter, to 1,896,000.

Pittsburgh National Corp., the holding company for Pittsburgh National Bank, has reported 1977 earnings of $32.8 million, up 2.3 per cent over a year ago.

The company, which also owns a mortgage Banking subsidiary. The Kissell Co., earned $5.38 a share, compared with $5.21 a share on earnings of $31.4 million in 1976, it was reported Thursday.

Consolidated net income after security transactions was $30.5 million, or $4.99 a share, up from $29.9 million, or $4.95 a share, in 1976.

Fourth quarter earnings amounted to $9.2 million, or $1.51 a share compared with $8.3 million, or $1.37 a share, in the final three months of 1976.

Total assets as of Dec. 31 were $3.53 billion. Loans outstanding amounted to $1.73 billion. Deposits were $2.63 billion, and shareholders' equity rose to $266 million.

Memorex Corp., maker of computer memory systems, earned $8.87 a share in 1977, up from $7.10 in 1976, which included a $2.75 a share tax credit.

Of the 1977 earnings $34.1 million or $5.28 a share was operating profit, which compares with operating profit of $24.9 million or $4.35 a share in 1976. Final quarter operating profit was $1.44 a share up from $1.23 a year earlier.

Revenues for the quarter were $124.04 million up from $100.05 million. For the year they were $450.11 million, up from $344.63 million.

Chairman Robert C. Wilson said Memorex's debt was reduced by $45 million during the year to $113 million.