Waverly Inc.The Baltimore-based medical publisher reported...


October 26, 1991

Waverly Inc.

The Baltimore-based medical publisher reported a 12 percent decline in third-quarter earnings, although sales for the period rose nearly 17 percent.

Waverly pointed out that its printing operating profits rose 24 percent during the quarter, but this was offset by interest and amortization charges associated with its recent publishing acquisitions. Waverly had predicted earlier that earnings would be off 20 percent during 1991 as a result of these acquisition costs.

Eastern Stainless Corp.

This Baltimore-based manufacturer of stainless steel plate, sheet and flat bar products suffered a loss for the third quarter and the first nine months of the year. The recession and the softness in demand for capital goods were the primary culprits, according to Robert C. Rubino, president of Eastern. He said orders have strengthened in recent weeks.

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