DESCRIPTION: A Glendale Md., holding company for nine subsidiaries, mainly printing companies and publishers, including the Merkle Press and Byron Adams locally. It ranks 12th in volume among thousands of U.S. commercial printers (OTC). 1978 PROFITS PER SHARE: $0.42 (earnings in the first nine months of 1979 were 23 cents a share vs. 21 cents in the 1978 period). DIVIDENDS: None. FOUNDED: 1959. TOP EXECUTIVES: Charles W. Lockyer, chaiman and president; Charles W. Lockyer Jr., vice president, chief financial officer and treasurer (effective April 1, when he moved here to join his father in management from Fidelity Bank of Philadelphia, where he was a vice president).

Although final figures aren't out for 1979 operations, Pubco had a profitable year despite a three-month strike at a St. Louis subsidiary; a substantial curtailment of operations in Chicago because of severe winter weather and the sharp rise in interest rates. In the first nine months of 1979, sales were $40.1 million compared with $38.4 million a year earlier and earnings rose to $682,000 from $604,000. Pubco reduced its senior debt by $1.5 million in 1979 compared with a $790,000 reduction in 1978. Officers are hopeful about the 1980s because of an expected high level of demand for graphic arts services and Pubco's own debt restructuring to provide resources for future growth.