Allied Corp. reported that its first-quarter revenue and net income were both up less than 1%. The Morris Township, N.J.-based firm said the results reflected good performance by the aerospace sector, continued improvement in the industrial and technology sector and higher profit in the oil and gas area. Performances of the automotive and chemical sectors were lower than the 1984 first quarter.
Nynex said its first-quarter profits rose 16% from a year earlier on a 9.6% rise in revenue. The New York-based phone company is one of the seven holding companies formed in January, 1984, to operate the 22 telephone companies divested from AT&T. Nynex's units provide service for most of New England. The company said that it maintained its efforts to contain costs and that its diversification efforts also bolstered the company's results.
B.F. Goodrich of Akron, Ohio, earned $2.3 million in the first quarter of 1985, down from $9.9 million in 1984's first quarter. Goodrich Chairman John D. Ong blamed the poor performance on lower volume and lower prices in the markets for tires and polyvinyl chloride, a plastic used in a variety of applications, including plumbing.
United Technologies, Hartford, Conn., reported that its first-quarter profit totaled $137.6 million, up 3%, on revenue of $3.92 billion, compared to $3.8 billion during the same period last year.