Hartford, Conn.-based Aetna Life & Casualty said...

Hartford, Conn.-based Aetna Life & Casualty said that a net capital gain of $42.5 million in the fourth quarter offset high casualty claims and inadequate rates, helping it boost its net profit from a year earlier despite a 52.2% decline in operating income. But for the full year, the financial-services company said a loss of $54.8 million from capital transactions, including securities transactions, sent its net profit tumbling 64% to $127.7 million in 1984 from $349.5 million a year earlier. Aetna Chairman James T. Lynn said substantial losses in commercial-casualty and reinsurance businesses more than offset higher profits in the employee-benefits division and individual life and casualty lines.

As a result of extensive branch-office sales, Financial Corp. of Santa Barbara pared its losses in 1984 to $19.9 million by earning $3.1 million in the fourth quarter. The parent company of Santa Barbara Savings & Loan Assn. said the quarterly profit was due to a one-time gain of $24.2 million that resulted from the sale of 20 branch offices. The company also said the gain allowed the firm to strengthen its balance sheet by writing off $6.3 million in good will and increasing its reserves for problem development loans from $6 million to $9 million. In 1983, the S&L; holding company lost $22.6 million, including a loss of $6.2 million in the fourth quarter.

Colgate-Palmolive Co., New York, said it lost $91.1 million in the fourth quarter and had a 64% drop in profit for the year, which it blamed on a previously announced $114-million restructuring charge taken for the final three months of 1984. Colgate said the 1984 results were also affected by the strong dollar, pricing pressures in the hospital supply sector and intensive competitive activity worldwide in many household and personal-care product categories.

B. F. Goodrich Co. said it lost $7.2 million in the fourth quarter, chiefly because it made a special provision of $12 million for phasing out industrial rubber-products manufacturing in Akron. The company, which also makes tires and specialty chemicals, had fourth-quarter earnings of $6 million a year earlier. For the year, Goodrich said its profit more than tripled to $60.6 million from $18.4 million in 1983. Goodrich said its specialty chemicals and tire businesses posted larger profits in 1984 than a year earlier.

For detailed data and results of other companies, please see accompanying tables.