Several errors occurred in last week's compilation of Washington's Top 100 companies. Assets of Potomac Electric Power Co. as of Dec. 31, 1982, totaled $2.7 million. Pepco ranks third in assets, behind C&P Telephone and Martin Marietta Corp. Assets of BDM Corp. as of Dec. 31, 1982, totaled $53.7 million, 35th among Washington nonfinancial companies. BDM now has 2,450 employes and about 85 percent of its business is defense-related. The firm's profits increased 46 percent last year; revenue was up 34 percent. Assets of Manor Care Inc. as of the end of its fiscal year on May 31, 1982, totaled $426.5 million, 14th in the area. Now traded on the New York Stock Exchange, the Silver Spring health care firm has 1,700 employes in the Washington area and 16,000 worldwide. It was incorrectly reported that Syscon Corp. was acquired by Continentel Telcom. Continental Telcom acquired STSC Corp. With sales of $71.4 million, Syscon ranks 33rd among Washington-area nonfinancial corporations. Evaluation Research Corp. was omitted from the listings; the firm ranks 54th in revenues at $17.3 million. Profiles of Syscon and Evaluation Research appear on this page. The Norfolk Southern Railroad was removed from the Washington companies list after the newly merged railroad said it was consolidating headquarters operations in Norfolk. With revenues of $3.3 billion, and assets of $6.8 billion, Norfolk Southern ranks second among Virginia corporations. Earnings last year totaled $411.4 million ($6.57 a share). PHH Group and Allegheny Beverage Corp. were not listed among the 10 largest Maryland corporations based outside the Washington area, though both are larger than Easco Corp., the smallest industrial firm listed. PHH of Hunt Valley, a vehicle management and cost control firm, earned $29.6 million ($1.93 a share) on revenues of $471.7 million. Allegheny Beverage, a Pepsi-Cola bottler and owner of The Macke Co. in Washington, earned $9.4 million ($2.30 a share) on revenues of $453.4 millio
Potomac Electric Power Co. 1900 Pennsylvania Ave. NW Washington, D.C. 20068 REVENUE: $1.1 billion PROFITS: $119 million EARNINGS PER SHARE: $2.28 ASSETS: $349.5 million DIVIDEND: $1.68 DESCRIPTION: Pepco is an investor-owned utility that provides electricity in the District of Columbia, suburban Maryland and a small part of Northern Virginia. At the end of 1982, Pepco's net installed system generation capability was 5,335 megawatts, or 29 percent more than the peak load for the same year. FOUNDED: 1896 TOP EXECUTIVE: W. Reid Thompson, chairman and president EMPLOYES: 5,400 DEVELOPMENTS: Regulators granted Pepco only about a third of two rate requests ruled on in 1982. In April, the Maryland Public Service Commission granted the utility a $31.66 million rate increase, rather than the $95.5 million the company had sought. In December, the D.C. Public Service Commission granted $34 million rather than the $97 million increase requested. Last March, the Supreme Court left standing a lower-court ruling that required Pepco to install costly pollution-control equipment on a new power plant at Chalk Point, Md., unless the utility opted instead to burn only expensive, low-sulfur oil at the plant. In June, the company and Local 1900 of the Internationl Brotherhood of Electrical Workers agreed to a new three-year contract that provides a 41 percent increase in wages and benefits to 3,500 workers represented by the union. The contract also allows Pepco to change work rules with minimal consultation with the union. Washington Gas Light Co. 1100 H St. NW Washington, D.C. 20080 SALES: $682.8 million PROFITS: $21.1 million EARNINGS PER SHARE: $3.41 ASSETS: $738.4 million DIVIDEND: $2.76 DESCRIPTION: Washington Gas is the natural gas supplier for the District and adjoining areas of Virginia and Maryland. Two subsidiaries, Shenandoah Gas Co. and Frederick Gas Co., serve the Winchester, Va., and Frederick, Md., areas. Other operations include Crab Run Gas Co., a gas exploration company; Hampshire Gas Co., a gas storage company; Davenport Insulation Inc., an energy conservation firm, and a dormant real estate development subsidiary. FOUNDED: 1848 TOP EXECUTIVE: Donald J. Heim, chairman and president EMPLOYES: 3,494 DEVELOPMENTS: Washington Gas Light's biggest business challenge is the same one faced by its customers: holding down energy costs. The company has advocated keeping federal controls on gas prices and congressional action to end supply contracts that force it to buy high-priced gas from producers and pipelines. Higher gas prices don't necessarily mean higher profits for the gas company, which wants to hold down prices and keep gas competitive with other fuels. The combination of high gas prices and gas surpluses has caused problems not only for the parent company but also for its gas exploration subsidiary. Crab Run has drilled several successful wild cat wells in Oklahoma, but has had trouble finding a market for the gas it is producing. As a result, Crab Run plans to scale back its operations this year. After losing money for several years, Davenport Insulation turned a profit in 1982 and is poised for growth when the home building business picks up.