T. Rowe Price AssociatesThe Baltimore-based mutual fund...

BY THE NUMBERS

July 31, 1991

T. Rowe Price Associates

The Baltimore-based mutual fund and investment advisory firm reported a modest gain in second-quarter operating profits yesterday, saying it benefited from growth in the amount of assets it manages for its customers and because it has expanded the scope of administrative services that it offers.

T. Rowe said it earned $7.7 million, or 52 cents a share, during the three months that ended June 30. That was up from net income of $3.4 million, or 23 cents a share, in the second quarter of 1990. But 1990's profits were held down by a one-time charge of $4 million, which makes this year's results seem like more of an improvement than they were.

Absent the charge, T. Rowe's operating profits in 1990's second quarter worked out to 50 cents a share.

T. Rowe said that its revenue was up 18 percent during the quarter, but operating profits posted smaller gains because of an increase in the number of employees and higher administrative costs.

Three months ended 6/30/91

.. .. .. Revenue .. .. .. Net .. .. .. ..Share

'91 .. .51,113,000 .. ..7,716,000 .. ..0.52

'90 .. .43,176,000 .. ..3,375,000 .. ..0.23

% change .. . +18.4 .. .. .. +128.6 .. .+126.1

Six months ended 6/30/91

.. .. .. Revenue .. .. .. Net .. .. .. .. Share

'91 .. .96,663,000 .. ..13,334,000 .. ..0.90

'90 .. . 85,370,000 .. ..10,295,000 .. .. 0.69

% change .. . +13.2 .. .. .. ..+29.5 .. . +30.4

Biospherics Inc.

Biospherics Inc., the Beltsville-based research firm that developed a sugar molecule with no calories, reported second-quarter revenue yesterday of $4.2 million, down about 5 percent from a year ago but an 18.6 percent improvement from the first quarter of the current fiscal year. The company reported a small second-quarter loss after a one-time charge of $76,429 resulting from a change in its pension plans.

For the first half of its fiscal year, the company lost $176,964 orevenue that was down 7.2 percent from a year earlier.

Recently, the company announced that it had received a notice from the U.S. Patent Office that strengthens the patent position of the company's no-calorie sugar, D-tagatose. The patent, which bars others from using a key ingredient in Biospherics' process for producing the sugar, will be awarded shortly, the company said.

Three months ended 6/30/91

.. .. .. .. . Revenue .. .. .. .. Net .. .. .. .Share

'91 .. .. .. .4,161,134 .. .. .. (3,910) .. .(0.001)

'90 .. .. .. .4,369,447 .. .. .. 136,134 .. ..0.035

% change .. .. .. ..-4.8 .. .. .. .. .. -- .. .. .. --

Six months ended 6/30/91

.. .. .. .. . Revenue .. .. .. .. .Net .. .. .. .Share

'91 .. .. .. 7,620,227 .. .. .. .(176,964).. (0.045)

'90 .. .. .. 8,207,206 .. .. .. .(13,988) .. .. 0.00

% change .. .. .. .-7.2 .. .. .. .. .. . -- .. .. . --

Polk Audio Inc.

This Baltimore-based maker of loudspeakers said that its earnings fell nearly 73 percent during its first fiscal quarter. The company said that its net income fell to $47,976, or 3 cents a share, for the past three months, compared with $177,000, or 10 cents a share, in the corresponding part of last year.

This year's first-quarter results covered a 13-week period, while last year's figures were for a 14-week period.

Three months ended 6/30/91

.. .. .. .. .. ..Revenue .. .. .. ..Net .. .. .. .. .. ..Share

'91 .. .. .. .. .5,691,308 .. .. ..47,976 .. .. .. .. .0.03

'90 .. .. .. .. . 6,700,897 .. .. ..177,000 .. .. .. .. .0.10

% change .. .. .. .. .-15.1 .. .. .. ..-72.9 .. .. .. ...-70.0

A. L. Laboratories

A. L. Laboratories Inc., a New Jersey-based pharmaceutical company that has a plant in the Baltimore area, reported increased profits and revenue yesterday for the second quarter and first half of the year.

A. L. owns Barre National, whose plant in the Woodlawn area of Baltimore County produces a variety of liquid pharmaceuticals such as cough syrups and antibiotics. The plant employs about 500 people, Chief Executive I. Roy Cohen said.

Three months ended 6/30/91

.. .. .. .. .. ..Revenue .. .. .. ..Net .. .. .. .. .. Share

'91 .. .. .. ...69,036,000 .. .. ..2,728,000 .. .. ..0.16

'90 .. .. .. ...64,846,000 .. .. ..2,599,000 .. .. ..0.15

% change .. .. .. .. . +6.5 .. .. .. .. .. +5.0 .. .. . +6.7

Six months ended 6/30/91

.. .. .. .. .. .. .. Revenue .. .. .. .. ..Net .. .. ..Share

'91 .. .. .. .. .. ..141,598,000 .. .. ..7,032,000 ..0.40

'90 .. .. .. .. .. ..134,154,000 .. .. ..6,091,000 ..0.35

% change .. .. .. .. .. .. .. +5.5 .. .. .. .. +15.4 .. +14.3

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