This Gaithersburg company said yesterday that its profits for the three months that ended Oct. 31 rose 47 percent. The quarter was the first of Penril's fiscal year.
Chairman Henry Epstein said revenues and profits were both helped by sales of VLAN, the company's new terminal server and gateway. "With many other new products near completion, we believe 1991 should be another good year," he said.
The company also announced it is changing its name to Penril DataComm Networks, Inc. The change comes because the company's fastest-growing business is data communications, which accounts for more than 75 percent of revenues.
The company makes data communications equipment and measurement instruments.
IGENE Biotechnology Inc.
This Columbia-based company said yesterday that it lost $236,603 during the quarter that ended Sept. 30, or 3 cents per common share. The company gave no reason for the loss and did not say whether its performance met or fell short of expectations.
The company lost $476,974, or 21 cents a share, in the third quarter of 1989.
For the nine-month period that ended Sept. 30, the company said, it lost $758,482, or 24 cents a share. The loss was smaller than the $1,488,977, or 65 cents a share, it lost in the first nine months of last year.
Kirschner Medical Corp.
This Timonium-based medical-equipment manufacturer posted revenues of more than $15 million for its fiscal third quarter of 1990, up from nearly $13 million for the same period last year. Net income improved even more, to $193,000 for this year's third quarter from a loss of $448,000 in 1989.
For the first three quarters of fiscal 1990, revenues exceeded $47 million, a 17 percent increase over 1989. Some of that improvement can be attributed to the company's Chick Medical Products Division, whose pending sale was announced Nov. 6. Chick Medical made $482,000 in the first three quarters of 1990, compared with a loss of $1.6 million in 1989.
BTR Realty Inc.
The Linthicum-based development company said it posted a net loss of $2.8 million for the quarter than ended Sept. 30, the result of more than $400,000 of write-offs of unrecovered real estate development costs and $3.8 million in additions to the reserves that protect BTR against falling real estate values in Arizona.
The quarter's bright spot was that BTR's operating income from properties that are already developed and rented to tenants rose 30 percent. Such income rose 29 percent for the first nine months of 1990, the company said.