Description: Alexandria-based developer of sophisticated small rockets and gas generators, using solid propellants; ARC also is engaged in data communications, electromagnetic field measurement and analysis, microchemistry, printing and aerospace-related fields. (OTC) PROFITS PER SHARE: $1.25. DIVIDENDS: None. FOUNDED: 1949. TOP EXECUTIVE: Coleman Raphael, president.

atlantic Research began the year with stockholders' equity of $2.8 million with 408,000 shares outstanding. The company split the stock 2 for 1 and sold 300,000 new shares. By the end of the year, stockholders' equity had risen to $7.5 million with 1,439 million shares outstanding. Until that offering, most of ARC's stock was owned by its employes, who bought control of the company from Susquehanna Corp in 1976. The company is now seeking to make another public offering of 400,000 shares of common stock. Backlog at year-end 1979 rose to $42 million from $30 million at the end of the previous year. ARC is currently engaged in several major propulsion programs for the government, which provides about 70 percent of the company's business.Those projects include the trident submarine launched missle, the Viper antitank rocket and the Stinger, a shoulder-launched ground-to-air missile. The company also is working with Vought Aerospace on a project called the multiple launch rocket system. The two companies are competing against another team for the contract, which the Army is expected to award sometime this year. ARC has some potential business on the ground basing system of the MX missile program. The company also registered gains in its data communications and engineering categories. In a potentially far reaching development, Atlantic Research's energy technology division has developed a coal and water mixture that contains no oil and can serve as a replacement for No. 6 fuel oil.