UNC Resources, a Northern Virginia firm that is the country's largest independant producer of uranium, reported that property sales and tax credits helped boost profits and sales to record levels in the year ended March 31.
Radiation Systems Inc, also posted higher sales and earnings and announced a new business line, the begining of construction on a new factory and payments of its first dividend.
UNC, the holding company for United Nuclear Corp., said yesterday that fiscal-year profits jumped 38 percent to $44 million ($4.04 a share) compared with $32 million ($3.00) a year ago. Revenues rose 18 percent to $302 million.
Both the earnings and sales figures reflect gains from the sale of some uranium property investments and a tax credit. UNC sold a 50 percent interest in certain uranium properties to the Tennessee Valley Authority for a gain of $22 million ($14.5 million after taxes).
President Keith Cunningham said yesterday that deducing nonrecurring items would indicate that fourth-quarter operations were at a break-even level.
"However, as we previously announced, this was in part due to accelerating deliveries under our lowest priced contracts to complete them during the quarter," he added, Cunningham forcast a resumption of growth in operating profits during the current year.
Radiation Systems Inc. President Richard Thomas said the Mcleanbased antenna manufacturer earned $509,000 (69 cents a share) in the nine months ended March 31 compared with $350,000 (49 cents) a year earlier. Sales rose to $3.8 million from $2.4 million.
RSI also distributed a payout of 5 cents a share last week to owners of record April 13-the initial dividend under a program recently approved by the company's directors.
Thomas also reported:
The start of construction on a new factory and office complex, with 90,000 square feet, and scheduled to be occupied next fall. The new facility will coincide with major production of tactical military atennae and reflector panels for RSI's commercial satellite earth station antennae.
That a subsidiary, Universal Antenna Inc., which began business last November, has received its first order-a $200,000 contract from General Telephone & Electronics to modify two satellite earth station antennae in the Philippines. Three additional contracts expected in the near future total $2 million, he added.
Among earnings statements from other firms in the Washington region:
International Bank of Washington, reported record first-quarter profits of $3.1 million ($1.76 a share), up 40 percent from $2.2 million ($1.26) a year ago. Revenues rose 24 percent to $30 million.
Fair Lanes Inc., a Baltimore-based bowling center firm, reported earnings in the nine months ended March 31 of $3.8 million (76 cents a share), up 7 percent from $3.6 million (71 cents). Revenues increased 6 percent to $38 million.
Student Loan Marketing Association (Sallie Mae), a corporation chartered by Congress to provide a secondary market for student loans, reported first-quarter earnings of $1.9 million ($11.25 a share), up from $6.05 $1 billion for the first time in history, reflecting a sharp increase in loan volume.
Maryland Cup Corp., of Owings Mills, reported profits in the six months ended March 31 of $5 million (75 cents a share) compared with $4.8 million (71 cents) a year earlier. Sales rose to $201 million from $176 million for the food container manufacturer.
Biospherics In c., a Rockville environmental firm, reported first-quarter profits of $57,582 (8 cents a share) compared with a year-earlier loss of $9,486. Sales increased 68 percent to $1 million. Chairman Gilbert Levin said there had been strong growth in laboratory analytical and editorial information services.
PepCom Industries, which owns soft-drink bottling subsidiaries, reported first-quarter profits of $977,000 (40 cents a share) compared with $747,000 (31 cents) a year ago. Sales rose to $14.2 million from $12.3 million.
Ryland Group Inc., a Columbia-based home builder, reported a strong first quarter with record earnings of $1.15 million (35 cents a share) compared with $419,000 (13 cents) a year ago.
The dollar volume of sales contracts signed in the period rose 3 percent to $59 million although the number of contracts was down 10 percent. Directors approved a dividend of 12 1/2 cents a share, paid on April 30.
Wapora Inc., an enviromental-engergy consulting firm in Chevy Chase, reported earnings of $186,889 (31 cents a share) in the nine months ended March 31 compared with $104,535 (17 cents) a year ago. Sales also rose, to $4.85 million from $3.2 million.