Penril Corp., a manufacturer of high-technology electronic equipment and consumer audio products, reported record earnings of $1.78 million ($1.35 a share) for its fiscal year ended July 31 compared with fiscal 1979 earnings of $1.45 million ($1.10).
Sales set a record at $33.33 million, up 47 percent from $22.69 million in 1979.
Penril's president and chief executive officer, Kenneth M. Miller, attributed the record figures to a favorable market climate for the Rockville company's data-communiations products, to the contribution made in 12 months of operation by a subsidiary, Epicure Products Inc., acquired in late 1978, and to two product-line acquisitions completed in 1980.
Maryland National Corp., holding company for Maryland National Bank, reported yesterday that it earned $9 million ($1.26 a share) before securities transactions in the third quarter, a 38 percent increase over last year's third-quarter.
Nine-month earnings were $24.6 million $3.43), up 22 percent from $20 million ($2.81) a year ago, while net income was $23.5 million compared with $19.1 million in the previous year.
Chairman Robert D. H. Harvey said high earnings for the third quarter reflected improvement in net interest income and continued growth in earnings of nonbank subsidiaries.
First American Bank N.A. of Washington reported income before securities transactions of $1.54 million (68 cents a share) in its third quarter, down from $1.63 million (72 cents) for the same period last year.
Nine-month income before securities transactions was $4.67 million ($2.05) compared with $4.63 million ($2.04) in 1979.
Virginia National Bankshares Inc., a holding company that is parent to Virginia National Bank, reported income before securities transactions of $4.71 million (67 cents a share) in the third quarter of 1980, down 13.3 percent from the $5.429 million (79 cents) earned in the third quarter of 1979.
Nine-month income before securities transactions was $16.69 million ($2.40) compared with $15.63 million ($2.30) in the same period of 1979.