BDM International Inc., a Fairfax-based professional services firm, said its income rose 45 percent in 1987, a year in which the company won $400 million in new contracts -- including the largest in BDM's history.
The company said it earned $19.7 million ($1.66 a share) during the year, up from $13.6 million ($1.21) in 1986. Revenue slipped slightly, to $314 million from $322.2 million, as the result of a one-time bulge in 1986 that occurred because BDM's revenue reflected the purchase of hardware for a client.
BDM finished the year with a $537 contract backlog.
In the fourth quarter, BDM earned $5.5 million (47 cents), up about one-third from $4.2 million (36 cents) a year ago. Revenue in the quarter dipped 4 percent, to $78.6 million from $82.2 million. Crown Central Petroleum Corp., a Baltimore-based refiner and distributor of petroleum products, said it earned $31.8 million ($3.17) in 1987, compared to a $20.2 million loss in 1986. The company said the results for this year were improved by a one-time $62.7 million gain from Crown Central's sale of its exploration and production operations. Revenue for the year rose 7 percent, to $1.1 billion from $1 billion a year ago.
In the fourth quarter, Crown Central earned $52.8 million ($5.26), compared to a $10.5 million loss last year, with the difference again attributable to the proceeds of the sale of the exploration and production business. Revenue in the quarter rose 27 percent, to $288.8 million from $226.7 million. ERC International Inc., a Fairfax-based professional services firm, said significant increases in income from its energy, information systems and environmental businesses contributed to a huge increase in 1987 earnings.
The company said it earned $4.8 million ($1.13) during the year, up from $337,000 (8 cents) a year ago, when a loss from discontinued operations reduced earnings by $3.8 million. Revenue in the year rose 27 percent, to $121.3 million from $95.3 million.
In the fourth quarter, ERC had a $907,000 (22 cents) profit, compared to a loss of $1.3 million a year ago. Revenue rose 36 percent in the quarter, to $32 million from $23.6 million.