United Nuclear Corp. has reported record profits for the fourth quarter and year ended March 31.
The Falls Church company, largest indpendent producer of uranium in the United States, said earnings for the year totaled $31.8 million ($4.50 a share), up 48 percent from $21.5 million ($.18) the previous year.
United Nuclear's unaudited figures did not include revenues. For the recent quarter, the firm's profits were $11 million ($1.54) compared with $6.5 million (96 cents), an increase of some 70 percent.
President Keith Cunningham attributed the results to increased uranium production, higher prices and improved operations throughout the company.
"The uranium market continues to be very strong, and UNC expects its production rate to continue to increase to meet the needs of nuclear power plants, which are currently providing about 12 percent of total U.S. electricity generation," Cunningham added.
As reported earlier, UNC declared a 50 percent stock dividend which was paid this week.
Macke Co., a Cheverly food service and vending firm, yesterday reported record profits for the six months ended March 31.
Earnings rose 23 percent to $2.3 million (76 cents a share) from $1.9 million (62 cents) in the same period a year ago. Revenues were up 14 percent to $111 million.
Bankers Security Life Insurance Society reported first-quarter profits of $801,899 (58 cents a share) compared with $565,313 (41 cents) in the same 1977 period. New life insurance sales totaled $217 million in the quarter compared with $124 million last year.