United Services Life Insurance Co of Washington reported its profits last year climbed 18 percent to $14 million ($2.73 a share) from $11.9 million ($2.31).
United Services said 1978 was the first year ever in which it wrote more than $1.155 billion worth of new policies to give it a total of $6.9 billion in force.
The company reported its total income for the year ended Dec. 31 declined slightly, to $116.5 million from $118.9 million. Assets increased by 10 percent -- more than $50 million -- to $546.9 million.
United Services is the insurance subsidiary of International Bank of Washington.
Last year the company acquired 100 percent ownership of Bankers Security Life Insurance; it also controls General Services Life, United Services Equities and USLICO Securities.
Noland Companies, a Newport News distributer of equipment to the building trades, reported its profits last year increased to $3.63 million ($1.47) from $3.53 million ($1.43). Sales were up only 4.8 percent, to $272 million from $259 million.
Included in the 1979 earnings, the company noted, was $1.3 million that the company was paid when one of its buildings was condemned for a government construction project. That added $841,0 00 (34 cents) to the year's earnings. c
Noland distributes plumbing, heating, electrical, air conditioning and refrigeration equipment and machine tools and drilling equipment.
American Health Services of Washington reported its pre-tax operating income fell last year -- to $1.78 million from $2.68 million -- but its net increased because of a $3.5 million gain from the sale of real estate.
American Health, which runs four psychiatric hospitals and a nursing home, reported net earnings of $3.19 million ($3.73 a share) an increase from $1.28 million ($1.50) a year earlier.
Total revenues for the year declined to $16.2 million from $21.2 million, because of the sale of two general hospitals.
Commonwealth Natural Resources of Richmond reported earnings increased last year to $5.5 million) $4.70 a share) from $3.8 million ($3.23) in 1978.
The natural gas and propane producer said revenues for the year increased 30 percent to $154.3 million from $118.2 million.Most of the increases in both sales and profits were due to higher natural gas prices, the company said. b