General Physics Corp., the Columbia high-technology firm that provides engineering and research services for the power and defense industries, has reported record revenue and net income for 1985.
Revenue for last year was $66.5 million and net income was $4.3 million ($1.16 a share), compared with revenue of $41.6 million and net income of $2.95 million (79 cents) in 1984. The 1985 net income includes an extraordinary gain of $369,000.
In the fourth quarter of 1985, the company reported revenue of $19 million and net income of $1.4 million (37 cents), including the $369,000 extraordinary gain. During the same period in 1984, the firm had revenue of $12.7 million and net income of $864,000 (23 cents.) General Physics Chairman Robert Deutsch said the most significant aspect of the 1985 results was the company's strong performance in several technical areas that have been under development, including efforts connected to the fossil fuel power industry.
*Rowley-Scher Reprographics Inc., based in Beltsville, reported 1985 third-quarter revenue of $3.7 million and net income of $242,350 (18 cents) versus revenue of $2.8 million and net income of $187 million (20 cents) in 1984's third quarter. Even though overall net income was up, per-share earnings in the third quarter of 1985 declined because of a 40 percent increase in the number of shares outstanding.
For the nine months ended Dec. 31, the firm, which specializes in graphic reproduction, reported revenue of $11.2 million and net income of $774,036 (70 cents), compared with revenue of $7.9 million and net income of $669,143 (70 cents) in 1984. Costs increased during the period because of relocation expenses and because the company opened a new operation in Norfolk. "With these expenses behind us, we look forward to continued growth in both sales and profits for the remainder of this year and the foreseeable future," Rowley-Scher Chairman Joel Salus said.
*While revenue continued to grow for Questech Inc. of McLean in 1985, profits declined. Questech reported 1985 revenue of $43.6 million and net income of $857,006 (56 cents) versus 1984 revenue of $33 million and net income of $1.1 million (79 cents). The 1985 earnings include $720,242 of income related to the adjudication of the company's claims against Iran.
However, an investment in a joint research venture with a Shell Oil Co. subsidiary, the funding of a new venture and the poor operating performance of certain subsidiaries led to the overall decline in earnings. Questech provides scientific and engineering services to national security, aeronautics and energy industry clients.