MIW Investors of Washington, a diversified real estate investment firm and holding company for First American Savings & Loan Association, reported substantially higher net income for the quarter and six months ended June 30.

Net income for the quarter was $1.7 million (33 cents a share), up sharply from $286,347 (8 cents) in the comparable period a year ago. Six-month earnings were $3 million (58 cents) compared with $640,515 (17 cents) in the corresponding period of 1984. MIW attributed the increases primarily to the recent acquisition of First American.

*Heilig-Meyers Co., the Richmond-based home furnishings chain, said net income for the first quarter ended June 30 increased 7.4 percent, to $3.9 million (62 cents) from $3.6 million (58 cents) for the same period last year.

Revenue jumped 12.2 percent, from $42.9 million in the year-ago quarter to $48.1 million.

Since the beginning of the fiscal year, the company has added new stores in South Carolina, West Virginia, Tennessee, Alabama and Georgia, bringing the total number of outlets to 132. Two more stores are scheduled to open in the second quarter, the company said in a statement.

*Comdial Corp., a Charlottesville-based designer and manufacturer of communications equipment, reported a loss of $5.7 million (33 cents) in the second quarter, slightly less than the $7.3 million loss (48 cents) recorded a year earlier. Comdial also reported a loss of $8.4 million (50 cents) for the first six months -- including a $4.5 million gain from the sale of stock -- much improved from the $20.4 million ($1.33) loss posted in the 1984 first half.