Two area utilities reported improved results yesterday.
Potomac Electric Power Co. said net income was $8.065 million (15 cents a share) for January 1981 compared with $6.871 million (13 cents) in January 1980.
The utility company said that earnings for the 12 months ended Jan. 31 were $105.279 million ($2.12) compared with $87.376 million ($1.79) for the previous 12 months.
And Virginia Electric and Power Co., said net income for the year ended Jan. 31 rose to $246.435 million ($1.97) from the previous year's level of $198.109 million ($1.63). Vepco President William V. Berry said the higher earning were due to increased kilowatt-hour sales because of abnormal weather.
PHH Group Inc. of Hunt Valley, Md., a company that provides buying, selling and cost-control services for corporate automobile fleets, said that revenues and net income for the nine months ended Jan. 31 reached record-high levels.
Company officials said that revenues increased 46 percent to $287.2 million compared with $197.1 million for the same period in the previous year. Net income increased to $16.4 million ($2.41) from $12.4 million ($1.93).
Despite high debt-service expenses and cost overruns at several of its subsidiaries, Scope Inc., a major Washington-area electronic technology company reported increased profits for the last year.
Fourth-quarter profits were also higher, the company said.
Net income for the year was $2.5 million ($2.06 a share), a 9 percent increase from $2.3 million ($1.89) in 1979. Sales rose 8 percent to $70.7 million from $65.4 million.
Fourth-quarter net income was $847,000 (70 cents) compared with $168,000 (14 cents) a year ago. Revenues were $19.1 million compared with $16.7 million.
Chairman William C. Schaub said that profit margins were below expectations for the year and that a strong performance by the communications-equipment segment of the company was offset by high debt-service expense and cost overruns on some programs in several subsidiaries.
Computer Network Corp. of Washington reported a drop in earnings for the third quarter ended Dec. 31 from $223,000 (13 cents a share) to $119,000 (6 cents). Revenues also fell from $5.1 million to $4.9 million.
The company recorded a nine-month net loss of $53,000 compared with a profit of $895,000 (53 cents) a year earlier. Revenues also declined from $16.3 million to $14.9 million