Wang Laboratories, stung by sluggish computer sales,...

Wang Laboratories, stung by sluggish computer sales, said its fiscal third-quarter profit plummeted 66% from a year earlier. The decline was worse than the 30% to 40% drop Wang earlier had forecast. An Wang, chairman of the maker of computer-based office-automation systems, said in a statement that the company was hurt by the strong dollar and the “industrywide slackening in customer demand” for computer systems.

Knight-Ridder Newspapers reported that its first-quarter profit rose 7.4% from a year earlier on an 8% gain in revenue. Robert F. Singleton, Knight-Ridder’s senior vice president-finance, said in a statement that the company’s results were adversely impacted by “severe winter storms in several of our northern markets and softness in retail and general advertising in a number of markets.”

Manville Corp., which is immersed in asbestos-related lawsuits and bankruptcy court proceedings, said its earnings fell 4.2% in the first quarter to $12.2 million. Manville, although profitable, filed for reorganization under Chapter 11 on Aug. 26, 1982, after thousands of lawsuits were filed against the company claiming damaged health as the result of exposure to asbestos. Manville said legal and professional fees stemming from the bankruptcy proceedings and lawsuits have cut into operating results.

Borden Inc. said its earnings rose 2.6% in the first quarter, with results from its international operations held down by the strength of the dollar. The company, which has interests in food, chemicals and consumer and professional products, said operating income from its international division fell 25%.

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