Life Technologies, Inc.
This Gaithersburg company, which makes a variety of products used in genetic research, reported an 11 percent increase in third-quarter net profits. Sales were up 19 percent from a year ago.
Loyola Capital Corp.
The holding company for Loyola Federal Savings and Loan reported a decline in net income during the third quarter and first nine months of the year.
The decline might have been greater, the company said, had it not benefited from a wider spread between the cost of deposits and the yield on loans and investments.
Provisions for loan losses were increased by $1.4 million, increasing the general loan-loss reserve to $9.7 million. The increase was necessitated by the effect of the regional economic decline on the company's automobile loans.
Non-interest income increased by $1.6 million, primarily as a result of a $2 million, one-time gain in connection with a real estate project in South Carolina.
Non-interest expenses increased by $1.7 million, including a provision for losses on investments in real estate of $750,000.
Continuing a two-year stock buyback program, Loyola Capital repurchased 136,464 shares of its common stock during the quarter, which affected per-share earnings for the most recent reporting periods.
W. R. Grace & Co.
The New York-based specialty chemical company, with extensive operations in Maryland, reported a sharp drop in net income for the third quarter but a 14 percent gain in operating income.
Third-quarter results for 1989 were inflated by a non-recurring after-tax gain of $61.8 million on the restructuring of Grace's natural-resource operations.
"We are encouraged by the strong operating results of all four of Grace's operating groups and expect higher income from operations to continue in the fourth quarter, despite widespread economic and political uncertainties," J. Peter Grace, chairman and chief executive, said in a prepared statement.
P. H. Glatfelter Co.
This Spring Grove,Pa.paper manufacturer suffered an 8.2 percent decline in earnings for the third quarter of 1990.The company blamed the drop on a 5.2.percent fall in paper prices since last year and on the deteriorating economy.But Glatfelter raised its prices by 4 percent this month and expects earnings to improve in the fourth quarter.