Pubco Corp., of Glenn Dale the parent company of Merkle Press, Merkle Computer Systems and Mailomatic, turned around last year, reporting a $300,000 (9 cents a share) profit compared with the $5.6 (2.63) million loss in 1976.
The main factor in the swing was completion of the move of Merkle from Washington to Glenn Dale, said Charles W. Lockyer, president and chairman.
Merkle, Pubco's largest printing subsidiary, spent $5 million building, equipping and moving into its 315,000 square-foot plant; a two-year process completed late in 1977, he said. Another $268,000 was invested in moving Tabard Press, the company's New York operation.
Merkle's move more than doubled the capacity of what is now the largest union-organized printing plant on the East Coast. Merkle is expanding its sales market nationally, Lockyer noted.
Last year's revenues were down slightly, from $48.7 million to $48.3 million for Pubco, now among the dozen largest commercial printers in the nation.
Last year Pubco acquired Malomatic - a mailing service that handles about 10 million items a month - and Columbia Computer Corp. - a mailing list, subscription and accounting service - which was renamed Merkle Computer Systems.
Pennsylvania Co., of Arlington, a healthy subsidiary of the bankrupt Penn Central Railroad, reported an 86 percent increase in earnings for 1977, from $38.7 million to $72 million.
Revenues grew from $287.1 million to $504.7 for the company, which refines and distributes petroleum, runs amusement parks and manages real estate.
All the stock of Pennsylvania Co. is held by the Penn Central. Under the railroad's court-ordered reorganization plan, Pennsylvania Co. is supposed to form the core of the ongoing business to be created when Penn Central emerges from bankruptcy.
Reporting a 76 percent increase in profits, from 1976's $5.3 million ($2.33 a share) to $9.5 million ($3.93) last year, Outlet Co. raised its annual dividend from 70 cents a share to $1.
A diversified retailing and broadcasting company, Outlet owns the Phillipsborn and Flair women's wear shops in the Washington area and is acquiring WTOP-AM, subject to the approval of the Federal Communications Commission.
For the year ended Jan. 31, Outlet's sales and revenues grew 66 percent, from $148 million to $247 million. The figures include operations of the eight Flair stores which were acquired last summer.
For the fourth quarter, earnings nearly doubled, from $3.17 million to $6.27 million, while revenues increased 116 percent, from $49 million to $107 million.
Per share earnings grew at a slower rate, from $1.42 to $2.57, because of the issuance of new stock to pay for acquisitions.