Westinghouse Electric Corp. yesterday reported 1977 net earnings of $251 million (2.86 a share) on sales of $6.137 billion compared with 1976 net income of $223 million ($2.54) on sales of $6.145 billion.

Yearly and quarterly earnings reflected extraordinary losses of $20.6 million and $16.8 million resulting from settlement of three uranium-supply laws suits.

The company said 1977 fourth-quarter net earnings dipped to $64 million (70 cents) from $62 million (71 cents), and sales dropped to $1.662 billion from $1.684 billion.

Aluminum of Co. of America yesterday reported improved fourth-quarter earnings of $1.27 a share against $1.13 a year earlier. Profits for the year rose to $5.58 a share from $4.14 in 1976.

Net income for the quarter was $44.8 million on sales of $826.5 million compared with $39.6 million a year ago on sales of $740.4 million.

Net income for the year was $195.2 million on sales of $3.42 billion, up from $143.6 million in 1976 on sales of $2.93 billion.

RCA Corp. yesterday said profits for 1977 rose shaply to $3.23 a share from $2.30 in 1976.

Net income was $247 million on sales of $5.92 billion compared with $5.36 billion in 1976.

Fourth-quarter profits were $65.5 million (86 cents a share) on sales of $1.65 billion against $56 million (73 cents) a year earlier on sales of $1.46 billion.

President Edgar H. Griffiths said it was RCA's best fourth quarter in nine years.

He said he particularly was gratified because RCA improved its share of the color television market and strengthened its position as the top American maker of color TV reveivers.

Rockwell International Corp. reported a 37 per cent increase in profits for the first fiscal quarter of 1978.

Earnings were $40.1 million ($1.15 a share) compared with $29.3 million (85 cents), during the first quarter of 1977.

Sales were $1.351 billion a slight increase

Allied Chemical Corp. said net profits were lower in the fourth quarter but higher for the full year.

The company said the figures were influenced by non-recurring items, adding that exclusion of them would have boosted profits for the quarter 63 per cent above those of the 1976 period.

For the quarter, the company earned $35.9 million (1.28 a share) against $41.2 million ($1.48) in the 1976 period. Sales for the quarter amounted to $757.1 million compared with $658.5 million a year earlier.

For the year, the company earned $132 million ($4.70) on sales of $2.92 billion against $117.1 million ($4.19) on sales of $2.62 billion in 1976.

Reynolds Metals Co. yesterday reported that its 1977 net income totaled $86.2 million ($4.61 a share), up from $75 million ($4.16) in 1976.

For the fourth quarter, Reynolds reported net income of $23.2 million ($1.20) compared with $18.8 million ($1.05), for the same period in 1976.

Sales were $2.35 billion in 1977 compared with $2.08 billion in 1976 and $580.2 million in the latest quarter against $522.6 million for the corresponding quarter a year earlier.

David P. Reynolds, chairman and chief executive officer of the Richmond-based company, said 1977 net income included a provision in the third quarter for losses of $7.5 million resulting from the closure of two unprofitable operations, one in the United States, the other in Europe.

Southern Pacific Co., parent of the Southern Pacific Railway, had lower earnings for the final quarter of 1977 but better profits for the year.

Net income for the fourth quarter was $26.36 million (98 cents a share) on revenues of $524.85 million against $32.2 million ($1.20) a year earlier on revenues of $485.83 million.

Profits for the year were $118.18 million ($4.39) on revenues of $2.098 billion compared with $109.55 million ($4.10) in 1976 on revenues of $1.883 billion.

A tax reduction increased 1977 earnings by $26.5 million. The railroad operation suffered declines in farm shipments but achieved strong traffic in automobiles, chemicals, lumber, paper,coal and petroleum products.

Non railway business - particularly real estate and natural resource operations - were quite profitable, but trucking profits dropped to $1.7 million from $8,6 million in 1976.

Santa Fe Industries Inc., reported record net income of $158.5 million ($5.92 a share) for 1977, up 32 per cent from $120.5 million ($4.61) in 1976.

Revenues for the year were a record $1.85 billion compared with $1.59 billion in 1976. Fourth-quarter revenues reached $482.9 million compared with $409.9 million in the same period the previous year.

Burlington Industries, Inc., a major textile producer, said earnings eased during its first fiscal quarter ended Dec. 31 despite higher sales.

William A. Klopman, chairman and chief executive, said the lower earnings stemmed from the weakness of the U.S. dollar abroad and a 14-week strike at its Mexican factories. The two developments reduced earnings by 27 cents a share. Klopman said.

The company earned 51 cents a share, down from 71 cents a year earlier. Net profits totaled $14.45 million on sales of $591.9 million against $20.12 million on sales of $550.58 million previously.