Transamerica’s Net Income Declines 8%

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.

“The strong performances of our life insurance and commercial lending operations offset the 62% decline in our real estate and asset management businesses from the record levels of 1993,” said Frank C. Herringer, Transamerica’s president and chief executive.