Martin Marietta Corp., which spent a good portion of its third quarter fending off a takeover bid by Bendix Corp., said yesterday profits in the period fell 37 percent as the recession ravaged its aluminum, chemicals, cement and sand and gravel businesses.

William Harwood, a spokesman for the Bethesda-based company, said the reason for the drop was "mostly the economy. There was very little effect in there of the takeover battle ."

In that fight, which began in late August and continued through most of September, Bendix wound up being taken over by Allied Corp., which also got 38 percent of Marietta. But analysts say the effects of the battle, which left Martin Marietta with $900 million in new debt, will hurt the company's earnings for several quarters.

Harwood said the company's aerospace operations -- its chief source of revenues -- were little affected by the recession in the quarter. But the other operations experienced declines, although all but aluminum remained profitable. The company said yesterday the aluminum division would not be profitable for the rest of the year.

In the quarter, Marietta said, it earned $38 million ($1.14 a share) on sales of $891.9 million, compared with earnings of $60.1 million ($1.62) on sales of $835.9 million a year ago. For the nine months ended Sept. 30, the company earned $94 million ($2.71) on sales of $2.6 billion, compared with earnings of $161.4 million ($4.31) on sales of $2.4 billion last year.

TransTechnology Corp. of Alexandria, said it earned $687,000 (25 cents), on sales of $12.9 million in the quarter ended Sept. 30, compared with $659,000 (24 cents), on sales of $10.6 million a year ago. The company, which makes products for the aerospace and textile industries, said earnings for the half-year ended Sept. 30 were $1.52 million (54 cents) on sales of $25.6 million, compared with $1.49 million (53 cents) on revenues of $22.4 million a year ago. Marietta Profits Fall 37% in Quarter

Martin Marietta Corp., which spent a good portion of its third quarter fending off a takeover bid by Bendix Corp., said yesterday profits in the period fell 37 percent as the recession ravaged its aluminum, chemicals, cement and sand and gravel businesses.

William Harwood, a spokesman for the Bethesda-based company, said the reason for the drop was "mostly the economy. There was very little effect in there of the takeover battle ."

In that fight, which began in late August and continued through most of September, Bendix wound up being taken over by Allied Corp., which also got 38 percent of Marietta. But analysts say the effects of the battle, which left Martin Marietta with $900 million in new debt, will hurt the company's earnings for several quarters.

Harwood said the company's aerospace operations -- its chief source of revenues -- were little affected by the recession in the quarter. But the other operations experienced declines, although all but aluminum remained profitable. The company said yesterday the aluminum division would not be profitable for the rest of the year.

In the quarter, Marietta said, it earned $38 million ($1.14 a share) on sales of $891.9 million, compared with earnings of $60.1 million ($1.62) on sales of $835.9 million a year ago. For the nine months ended Sept. 30, the company earned $94 million ($2.71) on sales of $2.6 billion, compared with earnings of $161.4 million ($4.31) on sales of $2.4 billion last year.

TransTechnology Corp. of Alexandria, said it earned $687,000 (25 cents), on sales of $12.9 million in the quarter ended Sept. 30, compared with $659,000 (24 cents), on sales of $10.6 million a year ago. The company, which makes products for the aerospace and textile industries, said earnings for the half-year ended Sept. 30 were $1.52 million (54 cents) on sales of $25.6 million, compared with $1.49 million (53 cents) on revenues of $22.4 million a year ago.