W. Bell & Co. more than doubled its profits for the first nine months of the year while boosting sales by 30 percent, Walter Bell, president of the Rockville catalogue showroom chain, said yesterday.
After-tax earnings for the 39 weeks jumped 126 percent, from $540,000 (57 cents a share) to to $1,222 million ($1.29). Sales were up from $33 million to $43 million.
For the quarter ended March 25, the company reported net earnings of $128,000 (14 cents) against last year's $12,000 loss for what is traditionally the worst quarter in the catalogue showroom business. Sales for the quarter were $10.9 million, up from $8.6 million.
Solan Automated Services Inc. of Washington, which operates laundry facilities in apartment complexes, said earnings and revenues increased 18 percent during the quarter ended Dec. 31.
The company's net grew from $1.02 million (33 cents a share) to $1,202 million (39 cents), revenues increased from $11.4 million to $13.5 million.
Doughtie's Foods, a Portsmouth Va., food processing and distribution company, said earnings for three months ended April 1 increased 33 percent from $95,300 (15 cents a share) to $125,000 (20 cents).
Setting a record, revenues for the quarter topped last year's $6.7 million by $38,000, said Vernon Mules, president of Doughtie's.
Virginia Real Estate Investment Trust first-quarter earnings declined because of an extraordinary charge for refinancing a mortgage, but the company still raised its dividend by 5 cents to 15 cents a share.
Virginia REIT said its net of $63,000 (5 cents a share) compared with $72,000 (6 cents) last year, after deducting a prepayment penalty of $30,000 (3 cents). Revenues grew from $1.3 million to $1.4 million.
Log Etronics Inc., a Springfield, Va., maker of electronic and photographic equipment, said net income for the quarter increased from $168,000 (17 cents a share) to $415,000 (41 cents) as Sales climbed from $3.6 million to $4 million.