Transamerica Corp

San Francisco-based Transamerica Corp. on Thursday reported net income of $104.9 million, or $1.40 a share, for the third quarter of 1994, down 8% on an adjusted basis from $116 million, or $1.41 a share, from continuing operations in the corresponding period of 1993. The results were stronger than expected, with the company's Los Angeles-based subsidiary, Transamerica Life Insurance Co., turning in record third-quarter operating income of $64.8 million.

Xerox Corp. said Thursday that its earnings rose 24% in the third quarter, primarily due to a onetime U.S. tax credit of $23 million taken in its core document-processing business. The copier company said it earned $150 million, or $1.28 a share, compared to $121 million, or $1.07 a share, in the third quarter of 1992. Revenue remained flat at $3.6 billion, the company said.