Stanwick Corp., a management systems and engineering consulting firm that has a $9.1 million claim pending against the government of Iran, posted a net loss of $103,847 in the second fiscal quarter ended Oct. 31 compared with earnings of $36,624 (4 cents a share) in the 1980 period. Revenues declined to $5.2 million from $6 million.
The decline in revenues was attributed to reduced business for the firm's technical support services division, which provides skilled tradesmen to industrial facilities during peak production periods. Stanwick also closed an unprofitable marine repair unit in California.
For the six months ended Oct. 31, Stanwick had a loss of $271,151 on revenues of $9 million compared with a loss of $130,685 and revenues of $10.4 million.
In separate monthly earnings statements, Potomac Electric Power Co. and Virginia Electric & Power Co. said that per-share profits declined in the 12 months ended Nov. 30.
Washington-based Pepco said net income for the 12-month period was $106 million compared with $105 million a year earlier but that per-share earnings dipped to $2.06 from $2.14, because more shares are outstanding today. Revenues rose to $989 million from $846 million.
Vepco, based in Richmond, said net income for the same period was $234.5 million, a gain of $2.7 million or 1.2 percent from a year earlier. Per-share profits declined 5 percent to $1.75 from $1.84, also because of more shares outstanding.