Solon Automated Services Inc. reported profits of $1.24 million (43 cents a share) for its fourth quarter ended Sept. 30 compared with $1.14 million (40 cents) a year earlier. Revenues in the quarter rose to $17.89 million from $16.52 million the year before.
Solon, whose main business is laundry equipment and services, said that its fiscal 1980 profits were $5.37 million ($1.88) on revenues of $73.9 million compared with profits of $5.34 million ($1.87) and revenues of $66.41 million a year ago.
The Washington-based company said both revenue and earnings at its Sugarbush Mountain ski area in Vermont were "down significantly from the previous year because of unseasonable weather last winter which caused a decline in ski-area revenues and because of higher depreciation charges.
Chesapeake Investors Inc. reported a loss of $3.95 million (96 cents a share) in its fiscal year ended Sept. 30. The 1980 earnings included a loss of $4.23 million on the sale of the company's assets on Aug. 14 when it converted from a real estate developer and owner of a Florida yacht facility to a closed-end investment company.
The company said that in fiscal 1979, when it was still an operating company, it had revenues of $38.99 million and earnings of $765,587 (18 cents). cThe company earned $125,044 (3 cents) from Aug. 14 until the close of the 1980 fiscal year and had net assets of $13.48 million ($3.56) on Sept. 30 which are held in tax-exempt securities.