Marriott Corp. of Bethesda yesterday reported that its net income rose 23 percent to $34.2 million ($1.25 a share) on revenue of $1 billion for its first quarter that ended March 28 from net income of $27.7 million ($1.04) on revenue $874.2 million for the same period last year.
J. W. Marriott Jr., chairman and president of the diversified lodging and food service company, said the increase was attributable to strong gains in contract food service and lodging operations.
Lodging sales benefited from the opening of 12 full-service hotels and six moderately priced Courtyard hotels during the past 12 months, while occupancy and average room rates also increased. Contract food services sales rose 43 percent.Atlantic Research Corp. reported first-quarter net income of $3.6 million (46 cents a share), a 12 percent decline from $4.1 million (52 cents) in the same period of 1985. Last year's figures include a one-time after-tax gain of $1.1 million from the sale of its subsidiary, Tri-Seal International Inc.
Excluding the one-time gain, the 1986 results would represent a 20 percent increase over profits of $3 million (41 cents).
First-quarter sales increased to $59.4 million from $52.8 million the year before.
The company, which is based in Alexandria, is one of the nation's major producers of solid rocket propulsion systems and has operations in data communications, electronic security and energy. Dominion Bankshares Corp., the fourth-largest bank holding company in Virginia, yesterday reported profits rose 18 percent to $10.7 million ($1.01 a share) in the first quarter of 1986. The company earned $9.1 million (87 cents) in the first quarter of 1985.
Two common measures of bank performance also rose. Dominion's return on assets reached 0.92 percent, up from 0.87 percent in the same period last year. The ratio means that Dominion earned less than 1 cent on every $1 in assets.
Return on equity rose to 15.7 percent from 15.1 percent in the same period last year.