Bendix Corp., a major producer of aerospace, automotive and construction materials, showed sales and earnings increases in the second quarter and first half.
The company said all segments of its business improved except for its automotive operations, whose results for the second quarter were under the year-ago period.
Earnings for the quarter were $31.9 million ($1.43 a share), up more than 6 per cent from $29.9 million (1.34) a year earlier. Revenues moved up 4.3 per cent to $872 million from $836 million.
For the half, the company earned $60.4 million ($2.71) on revenues of $1.7 billion compared with $56.7 million ($2.54) on revenues of $1.6 billion last year.
Continued increases in world wide cigarette operations and its Miller Brewing Co. led Philip Morris Inc. to record earnings and revenues for its first quarter ended March 31, the company said yesterday.
Net income was $87.5 million ($1.46 a share), a gain of 22.5 percent from the $71.4 million (1.19) earned during the first quarter previous. Revenues were $1.391 billion, an increase of 21.7 percent from $1.143 billion a year earlier.
Bank America Corp., the nation's largest, said its first-quarter net income after securities transactions soared 23.4 percent, from $83 million (57 cents a share) a year ago to $102.5 million (70 cents).
A. W! Clausen, president of the San Francisco-based bank, attributed the sharp jump to continued success in the California retail market, especially in home real estate and consumer loans.
BankAmerica's assets for the quarter totaled $81.6 billion, up 13.4 percent from $71.9 billion recorded in 1977.
Fourth-ranked Manufacturers Hanover Trust Co. of New York reported earnings of $43.5 million ($1.38 a share), up from $40.9 million (1.38).
Chicago-based Continental Illinois Corp., the nation's seventh largest bank, said it earned $40.1 million ($1.12 a share) in the 1978 first quarter compared with $34.5 million (97 cents) in the comparable period last year.