Fair Lanes Inc., the Baltimore bowling alley operator, reported its earnings fell to $27,000 (one cent a share) from $78,000 (2 cents) for the quarter ended Sept. 30.

Revenues fell slightly, to $11.23 million from $11.27 million during the quarter, traditionally the poorest season for bowling. During the quarter Fair Lanes closed two of its bowling centers and four English Company restaurants, but made up for their volume with stronger sales at other operations.

Strother Drug Co. of Lynchburg showed a 3-cent-a-share increase in profits for the quarter, to $335,000 (40 cents a share) from $313,000 (37 cents) in the same period a year ago. Sales increased 13 percent to $13.6 million from $11.9 million.

For the six months ended Sept. 30, Strother earnings increased to $622,000 (74 cents) from $571,000 (67 cents) and sales climbed to $25.6 million from $22.7 million.

Old Dominion Real Estate Investment Trust has reported third-quarter profits of $23,549 (3 cents a share), up from $22,941 (4 cents). For the year, the Richmond firm reported profits of $446,143 (63 cents), up from profits of $35,927 (6 cents) a year earlier.