An article yesterday incorrectly reported the per-share earnings for TVI Energy Corp. for the nine months ended Sept. 30, 1983, and Sept. 30, 1984. The correct figures are 2.1 cents in the 1983 period and 1.6 cents this year.
Washington Homes Inc. reported an 8 percent decrease in earnings for its first quarter, which ended Oct. 31. Profits dropped to $746,900 (62 cents a share) from $815,000 (65 cents) during the same period last year.
First-quarter revenue, on the other hand, increased by 10 percent to $16.4 million from $14.9 million during the year-previous period. Washington Homes said the decline in earnings -- despite higher revenue -- came as a result of start-up expenses related to the company's decision to reenter the Northern Virginia market. Additionally, the company said it was incurring higher financial costs.
Realty Income Trust's earnings for the three months ended Oct. 31 climbed by 16 percent, to $342,195 (22 cents) from $292,882 (13 cents).
For the six months ended Oct. 31, the company's profits declined by 28 percent, from $910,749 (25 cents) to $652,283 (34 cents). The earnings-per-share figure was higher despite lower profits because there was less stock outstanding. There were no sales of investments for the latest six months; for the same time period last year, the company realized a gain of $342,521 (22 cents) on the sale of investments.
Profits for PHH Group Inc. rose by 12 percent for the three months ended Oct. 31, from $8.8 million (56 cents) to $9.9 million (62 cents). Revenue for the Hunt Valley, Md., firm, which provides services for business automobile fleets, rose 21 percent, to $148,945 from $122,941.
For the six months ended Oct. 31, earnings rose 11 percent, from $17.4 million ($1.10) to $19.3 million ($1.21). Revenue rose nearly 15 percent for the six months to $304 million from $265.2 million for the same period last year.
TVI Energy Corp. said sales for the third quarter ended Sept. 30 rose 29 percent, to $864,614 from $608,498 last year. Third-quarter net income was up 67 percent to $36,764 (6 cents) from $12,060 (2 cents) in the year-previous period.
Sales for the nine months ended Sept. 30 were $2.55 million, down from $2.61 million, while earnings fell to $109,314 (16 cents) from $129,136 (21 cents) for the nine-month period last year.