UNC Resources of Falls Church reported a first quarter profit of $1.4 million (11 cents a share) yesterday, compared with $3.55 million (32 cents) in the first three months last year.
Revenues for the quarter were lower than a year ago declining from $104.6 million to $78.6 million.
Results of the latest quarter included gains totaling $5.8 million on the sale of properties which were partially offset by a writedown of oil properties. The company would not have been profitable without the property gains, UNC chairman Keith A. Cunningham said at a meeting of shareholders yesterday.
Cunningham reported, nonetheless, that operations were stronger in recent quarters. UNC expects the trend to continue during the remainder of 1983, he added.
Crown Central Petroleum Corp. of Baltimore said it recorded a net loss of $10.5 million ($1.74 a share) in the first quarter, compared witrh a loss of $3 million (54 cents) in the comparable period a year ago.
Sales for the most recent quarter were also lower than a year ago, declining from $415.8 million to $348.4 million.
At Crown Central's annual meeting Thursday, chairman Henry A. Rosenberg Jr. told shareholders that the loss in the recent quarter was due principally to reductions in sales volume as well as a deterioration of gross margins. Rosenberg said product prices declined at a faster rate than crude oil costs.
Jefferson Bankshares Inc. of Charlottesville said income before securities transactions totaled $2.2 million (90 cents) in this year's first quarter, compared with $1.42 million in the first three months of 1982. Assets increased to nearly $740 million.