Dynalectron Corp., a diversified technological services company in McLean, yesterday reported higher profits on record sales in 1977. Directors of the firm also approved a boost of 17 percent in the Dynalectron dividend rate.
Earnings rose by 8 percent to $2.7 million (38 cents a share) from $2.5 million (36 cents) in 1976. Revenues totaled $285 million compared with $201.5 million in 1976.
In the fourth quarter alone, Dynalectron's profits soared to $1.6 million (24 cents) from $500,000 (8 cents) in the same period a year earlier. Revenues rose to $83 million from $57 million.
A cash dividend of 7 cents a share on common and 70 cents on preferred stock was declared payable April 17 to stockholders of record March 27.
Chairman Jorge Carnicero said his company's backlog of unbilled orders was $219 million on Dec. 31. Dynalectron is engaged in electrical contracting, commercial aircraft servicing, technology, engineering, construction and engineering.
Stanwick Corp., an Arlington management systems firm, said profits declined significantly for the quarter and nine months ended Jan. 31, primarily because of reduced revenues from a subsidiary that provides maritime services to Iran.
Third-quarter profits fell to $304,361 (29 cents a share) from $611,374 (55 cents) in the same period a year earlier as sales declined to $4.5 million from $4.6 million.
For the nine months, Stanwick's profits declined to $1.2 million ($1.14) from $2.04 million ($1.84) last year. Sales were $14 million compared with $14.7 million.
International General Industries reported a decline in net income from $4.9 million ($2.75 a share) to $4.1 million ($2.31 a share) for 1977 but said the decline was due to a $2.8 million loss from discontinued operations.
Revenues for the year were up 12 percent, from $75.3 million to $84.6 million, and earnings from continuing operations increased 22 percent, from $5.7 million ($3.20 a share) to $6.9 million ($3.89 a share).
A member of International Bank's industrial group, International General owns Kliklok Corp., a packaging firm, and 10 percent interests in Foster Wheeler Corp. and Avis Industrial Corp.
President B. Frank Taylor said conclusion of International Bank's lenghty dispute with the Federal Reserve System over its status as a bank holding company will allow International General to expand. The company will be seeking both internal growth and acquisitions, he said.
For the fourth quarter, International General's income increased 88 percent, from $955,000 (54 cents per share) to $1.8 million ($1.01 per share).