Danaher Corp. of Washington yesterday reported that two major acquisitions produced a 144 percent increase in quarterly revenue and a 286 percent improvement in earnings.
Danaher's profits for the quarter ended June 26 jumped to $7.9 million (72 cents a share) from $2 million (20 cents) in the same period a year ago after it bought Chicago Pneumatic Tool Co. and Western Pacific Industries. Revenue of the conglomerate increased to $200 million from $82 million.
For the first six months of 1987, Danaher earned $13.3 million ($1.22) on revenue of $380.9 million, up from $4.7 million (46 cents) a year earlier.
Chairman Steven Rales said the firm raised $135 million during the first half from the sale of divisions of Chicago Pneumatic and other restructurings and used the cash to reduce the debt incurred when it made the acquisitions. Star Technologies Inc. of Sterling, Va., reported a six-fold increase in its quarterly profits, which jumped from $119,000 (1 cent a share) to $709,000 (4 cents). Revenue grew to $9.1 million for the first quarter, ended June 30, a 9.5 percent increase from the same quarter of 1986.
Star makes high-speed 32-bit computers known as array processors, used in imaging and signal processing.
Washington Real Estate Investment Trust of Bethesda yesterday announced second-quarter earnings of $2.58 million (28 cents a share), up $7,500 from the same quarter of 1986. For the first six months of the year, net income was $5.0 million (55 cents), up $13,000 from the same period of 1986.
The company signed more than 30 new office leases in the second quarter.
Iverson Technology Corp. of McLean reported revenue for the quarter ended June 30 of $6.1 million, with profits of $570,000 (15 cents a share), compared to $5.5 million, with profits of $563,000 (15 cents), for the same quarter of 1986.
For the six months ended June 30, the company had revenue of $12.3 million, up from $10.0 million for the same period of 1986, and profits of $1.1 million (30 cents), up from $1.0 million (27 cents).
Iverson's revenue through July 31 totaled about $17.4 million, aided by initial sales under a $133 million contract from the Federal Bureau of Investigation announced in last month. Iverson specializes in computer systems integration.
CompuDyne Corp., the Annapolis defense electronics contractor, reported that second-quarter revenue grew to $19.7 million from $18 million a year earlier, but profits dropped to $124,000 (5 cents a share) from $664,000 (60 cents). For the first six months, the company reported net income of $258,000 (15 cents), down from $960,000 (87 cents) for the six months ended June 30, 1986.