Federal Realty Investment Trust of Bethesda reported that its third-quarter net income rose 70.5 percent to $1.26 million (8 cents a share) from $739,000 (5 cents) in the same quarter last year.
Revenue rose to $22.4 million from $19.44 million in the quarter ended Sept. 30. Funds from operations rose to $6.04 million from $4.91 million.
Federal Realty is an equity real estate investment trust that concentrates on older shopping centers near busy highways.
President Steven J. Guttman said, "By virtue of the quality of our centers and the strength of their prime locations, our overall portfolio continues to perform well, despite the difficult economic environment."
Anadac Inc., the Arlington government services firm, said third-quarter profit fell 16.7 percent to $455,982 (89 cents a share) from $547,339 (98 cents) in the same quarter last year.
Revenue in the quarter ended Sept. 30 grew 6.8 percent to $15.15 million from $14.19 million in last year's quarter.
The company said its results "reflect the impact of slowing Department of Defense business sectors."
Interstate General Corp., a real estate company based in St. Charles, Md., reported that its profit fell sharply in the third quarter.
Profit in the quarter ended Sept. 30 fell 96.8 percent to $83,000 (1 cent a share) from $2.58 million (26 cents) in the same quarter last year.
Revenue was up to $14.65 million from $13.90 million a year earlier.
President James J. Wilson said the increase in revenue came from the company's addition in the last year of American Family Homes and lease income from the El Commandante Race Track in Puerto Rico. He said profit was hurt, though, "by significantly lower lot and home sales, as well as reduced profit margins, for the company's operations in the sluggish metropolitan Washington, D.C., market."
The company's largest real estate project is the continued development of St. Charles, a 25-year-old planned community in Charles County.
Versar Inc., a Chantilly environmental services firm, reported that it lost $313,000 in its first quarter ended Sept. 30.
That compares with a profit of $400,000 in the same quarter a year ago.
Revenue was down 6.8 percent to $14.15 million from $15.19 million a year earlier.
The company said that both profit and revenue were below expectations because of the slumps in real estate and government contracting.
Versar provides scientific and technical services to solve environmental, health and safety problems caused by pollutants, hazardous materials and toxic substances.