Two big bowling alley companies rolled up higher profits yesterday, and improved earnings also were scored by the maker of McCormick spices, and Scott's home centers.
Bowl America Inc. of Springfield posted a 16 percent gain in earnings for the year as profits climbed to a record $1.43 million ($1.06 a share) from $1.25 million (91 cents). Revenues for the 26 Bowl America bowling centers increased to $16 million from $14.6 million in the previous year.
Aided by the Women's International Bowling Congress championship on its alleys, Bowl America also set records for the quarter ended June 28, with profits of $289,000 (22 cents) on revenues of $3.8 million compared with $242,000 (18 cents) on revenues of $3.26 million in the same period a year ago.
Fair Lanes Inc. of Baltimore posted earnings of $4.08 million (91 cents) for the year compared with $3.88 million (82 cents) last year while its revenues climbed to $53.1 million from $52.5 million.
Quarterly income for the three months ended June 30 fell to $200,000 (5 cents) from $236,000 (6 cents) even though revenues increased to $12.4 million from $11.7 million.
McCormick & Co., the Baltimore spice company whose expansion into the real estate development business includes a major new industrial park in Prince George's County, reported its third quarter earnings more than doubled. McCormick earned $4.9 million (40 cents) on sales of $116.7 million compared with a net of $2.15 (19 cents) on revenues of $125.4 million.
Scott's Seaboard Corp., operator of nine Scott's home-improvement centers in the Washington-Baltimore area, reported its net for the first half of the year increased from $28,000 (2 cents) to $154,000 (9 cents) and an extraordinary credit boosted earnings for the period to $355,000 (20 cents).
Sales of the Scott's home centers increased to $8.9 million from $7.8 million and sales increased to $3.7 million from $2.7 million at Seaboard Plywood and Lumber Corp., another subsidiary that sells building supplies wholesale.