Dominion Resources Inc., Richmond-based parent of Virginia Power, said its profit rose 8.5 percent last year.
"The positive effects of Virginia Power's higher base rates, subject to regulatory approval, substantial reductions in the utility's costs and increases in non-utility earnings exceeded the negative effects of abnormally mild weather and the declining economy," the company said.
Net income for the year was $445.7 million ($4.38 per share), compared with $410.8 million ($4.14, with fewer shares outstanding) in 1989. Revenue was $3.56 billion, down 3 percent from $3.67 billion.
Profit in the year's final quarter fell 39 percent to $73.1 million (71 cents) from $120.5 million ($1.20) in the same quarter a year earlier. The company blamed the economy and the weather. Revenue fell 10 percent to $844.1 million from $939.7 million a year earlier.
CACI International Inc., an Arlington software and consulting firm, said its profit fell sharply in the quarter ended Dec. 31, largely because a reduction in a Navy contract left the company with leased office space it isn't using.
CACI's net income in the quarter, the second of its fiscal year, was $343,855 (3 cents), down 61 percent from $875,312 (8 cents) in the same quarter a year earlier. Revenue was also off slightly, to $34.8 million from $35.8 million a year earlier.
The company said the quarter's results reflect a $1 million pretax charge to cover the cost of excess space it has leased at a facility in Mechanicsburg, Pa. The space is going unused because of a sharp reduction in a contract with the U.S. Navy Fleet Material Support Office. J.P. London, CACI's chief executive, said the company is trying to sublet the space, but given the soft market for commercial real estate market, it seemed appropriate to provide now for the future cost.