Profits at Bankers Security Life Insurance Society increased 26 percent last year from $3.252 million ($2.36 a share) in 1977 to a record $4.096 million ($2.97), the Washington company reported yesterday.
Fourth-quarter profits after securities losses of $91,336 were $1.4 million. In 1977, fourth-quarter net income after securities gains of $19,222 were $1.2 million.
Premium income rose 69 percent in 1978 to $51.4 million and total income rose to $58.1 million from $36.3 million in 1977.
Scope Inc., a Reston electronics manufacturer, reported record profits last year of $3.7 million ($3.08 a share), up 41 per cent from $2.7 million ($2.20) for 1977.
Fourth-quarter earnings were $1.2 million (97 cents a share), up 45 percent from $818,000 (67 cents) in 1977.
Sales rose 39 percent last year to $59.2 million compared with $42.5 million in 1977.
Radiation Systems Inc. earned $327,000 (46 cents a share) on sales of $2.3 million in the six months ending Dec. 31, compared with $240,000 (33 cents) on sales of $1.7 million in the last six months of 1977.
The McLean-based antenna and communications equipment manufacturer also announced an initial dividend of 5 cents per share on May 1 to owners of record April 13 and said it plans to pay dividends semiannually.
Heritage Financial Corp., a Richmond savings and loan firm, earned $1.6 million (86 cents a share) last year. Net Income for 1977, restated to reflect a reallocation of 1977 income taxes, increased net income from $1.6 million (84 cents a share) to $1.8 million (96 cents).
Savings deposits grew 21.4 percent to $189 million last year from $156 million in 1977.
Universal Security Instruments Inc., of Owings Mills, Md., reported net losses for the nine months ending Dec. 31 of $782,790, compared to earnings of $724,016 (46 cents a share) during the same period in 1977.
Third-quarter losses increased from $30,946 in 1977 to $158,534 in the 1978 period. The firm included in third-quarter and nine-month figures losses after taxes resulting from inventory and equipment write-downs of assets bought in prior periods for products "which have since then become slow moving or obsolete," the company said.