Bowl America Inc. of Springfield yesterday reported record profits of $1.3 million (91 cents a share) for the year ended June 29, compared with $1.2 million (84 cents) the previous year. Fair Lanes, another bowling center operator, posted a decline in earnings for the recent year.
It was the 11th consecutive year that Bowl America listed record earnings.
Sales increased to $14.6 million from $13.8 million.
In the fourth quarter, Bowl America earned $242,703 (18 cents) vs. $194,507 (14 cents) as sales increased to $3.3 million from $3.2 million. The company recently opened its 26th center, in Burke.
Fair Lanes Inc. of Baltimore reported net income for the year ended June 30 of $3.9 million (82 cents a share), down from $4.4 million (88 cents). jRevenues were $52.5 million, up from $49.7 million. Fourth-quarter earnings were $236,282 (6 cents), compared with $605,159 (12 cents). Revenues were $11.7 million, compared with $11.9 million.
Survival Technology Inc. of Bethesda reported decreased earnings for the year ended July 31. Net income was $652,600 (26 cents a share), down from $1.7 million (69 cents). Last year's earnings included a nonrecurring income of $607,000 (24 cents). Revenues were $15.5 million, compared with $11.7 million last year.
The company reported a loss for the fourth quater of $150,400, compared with net income of $678,800 (27 cents). Last year's figure included nonrecurring income of $181,000 (7 cents). Sales declined to $3.7 million from $4.2 million.
"The fourth-quarter loss primarily reflected an unfavorable change in product mix and certain inflationary cost increases," the company said in a statement. "We are now selectively increasing our prices and have instituted programs to improve productivity and reduce costs in many areas of the company's operations."
General Kinetics Inc. of Rockville reported net income for the year ended May 31 of $68,550 (8 cents per share), compared with $182,805 (23 cents). Revenues were $2.8 million, compared with $3.0 million.
Microdyne Corp. of Rockville reported third-quarter earnings of $822,600 (30 cents a share), up from $650,316 (24 cents). Sales were $6.1 million, compared with $4 million. Net income for the past three quarters was $2.5 million (90 cents). Revenues were $17.1 million, up from $12 million.
United Consolidated Industries Inc. of Hanover, Md., reported an earnings loss for the second quarter ended July 31 of $65,135, because of changes in the method of determining inventory valuation. That compared with $52,033 (15 cents) last year. Revenues were $6.1 million, up from $6 million. For the six months ended July 31, the company reported a loss of $345,343, compared with a profit of $32,160 (9 cents). Revenues were $11.4 million, compared with $11.5 million.