A story in the Business section Feb 7 incorrectly stated net income for Computer Entry Systems Corp. for the quarter ended Dec. 31, 1983. The company earned $206,000, compared with earnings of $534,000 for the same quarter in 1984.
Primark Corp. reported 1984 earnings of $49.5 million ($5.26), up 59 percent, compared with $31.2 million ($3.48) in 1983. The earnings reflect a 3-for-2 stock split paid on Jan. 31, 1984.
The McLean firm, a diversified holding company that owns Michigan Consolidated Gas Co., said its 1984 revenue was $2 billion, virtually unchanged from the year before.
For the fourth quarter, net income decreased 35 percent to $11.3 million ($1.19) from $17.5 million ($1.88) in the same period of 1983. Fourth-quarter revenue decreased to $483.8 million from $629 million the year before. Chesapeake Corp., a lumber and wood and paper products firm, reported a 77 percent increase in profits in 1984 to $22.1 million ($3.35 a share) from $12.5 million ($1.96) in 1983. Included in the results is an extraordinary gain of 63 cents a share from an exchange of debt for common stock and cash.
Sales for the year increased to $350.2 million from $273.8 million the year before.
The company, based in West Point, Va., reported fourth-quarter net income of $5.4 million (82 cents), down 17 percent from $6.5 million ($1.03) in the same period of 1983. Fourth-quarter revenue increased to $76.3 million from $63.5 million the year before.
* Media General, the Richmond-based communications company, reported 1984 profits of $39.8 million ($5.60 a share), up 11 percent from $35.9 million the year before. Sales grew to $547.7 million from $507.8 million in 1983.
For the fourth quarter, net earnings increased 14 percent to $10.4 million ($1.47) from $9.1 million ($1.29) the previous year.
* Security National Corp., a holding company that operates Security National Bank, reported earnings of $3.1 million ($3.38 a share) for 1984, up 11 percent from $2.8 million ($3.06) in 1983. Total assets increased to $249 million by Dec. 31, 1984, from $209.5 million the year before. The bank's deposits were $220 million at the end of 1984, compared with $184.1 million the previous year. The firm attributed the increases to the money market account it has offered since December 1982.
For the fourth quarter of 1984, net income reached $595,000 (65 cents), up 15 percent from $518,000 (56 cents).
* Computer Entry Systems Corp., of Silver Spring, reported 1984 net income of $1.4 million (36 cents a share), double its profits of $710,000 (18 cents) in 1983. Revenue increased to $26.8 million in 1984 from $16.9 million in 1983.
For the fourth quarter of last year, profits increased 159 percent to $534,000 (13 cents) from $206 million (5 cents) in the same period of 1983. Sales increased to $7.9 million from $5 million.
* American Filtrona Corp. reported 1984 profits of $13.6 million ($3.18 a share), up 157 percent from $5.3 million ($2.27) in 1983. Sales increased to $106.3 million from $100.9 million. The results reflect a reduction in the number of outstanding shares as the result of the sale of investment in Bunzl Plc.
The Richmond company, which makes plastic and fiber products and filters, reported fourth-quarter net income of $1.7 million (92 cents), a 6 percent increase from $1.6 million (66 cents) in the same period of last year. Sales were $25,680, up slightly from $25,274 the year before.