Record profits and sales for the quarter and fiscal year ended Jan. 28 were reported yesterday to the Hechinger Co., a Washington retail home center chain.
The House Co., a real estate development and shopping center firm in Columbia, also reported increased earnings yesterday.
Hechinger, which currently operates 19 stores, posted sales of $92.6 million in the recent year, a gain of 15 percent. Profits rose 22 percent to $2.5 million (92 cents a share) compared with $2.05 million (76 cents) the previous year.
In the fourth quarter alone, Hechinger earned $972,976 (35 cents) compared with $786,880 (28 cents) in the same period a year earlier. Sales increased by 15 percent to $22.2 million.
Hechinger opened two stores outside the Washington area last year, in Newport News and Baltimore. Four other branches are under construction in Harrisburg, York and Lancaster, Pa., and Baltimore, part of a major expansion program that involves 13 stores and a doubling of retail selling space.
The company said its new distribution center at Ardwick, in Prince George's County, is almost fully in operation after receiving its first shipment of goods in December. Hechinger will move its corporate headquarters to the suburban location from Northeast Washington in April.
Rouse Co. earnings before noncash charge in 1977 totaled $8.2 million, a gain of 114 percent over $3.8 million the previous year. Operating profits totaled $5.3 million compared with $5.16 million or 39 cents a share for both periods.
Total net earnings in 1977 of $5.6 million included non-recurring gains from sales of interests in retail centers ($2.2 million) and a gain from foreign currency debt translation of $4.3 million. In the previous year, net earnings of $8.8 million included a $9.15 million one-time gain from sales of interests in retail centers.
The company's annual report said all operating division posted improved financial results. Three retail projects were opened during 1977 and sevven malls are expected to open this year.
American Health Services Inc., a Washington operator of hospitals and nursing homes, reported profits of $09,309 (13 cents a share) in the first fiscal quarter ended Dec. 31 compared with $53,925 (6 cents) a year earlier. Revenues increased to $4.96 million from $4.64 million.