Crown Central PetroleumCiting a weak economy and increased...

BY THE NUMBERS

February 28, 1992

Crown Central Petroleum

Citing a weak economy and increased competition, Baltimore-based Crown Central Petroleum Corp. reported a loss of $10.1 million in the fourth quarter and a loss of $6 million in 1991.

Operating costs for the year included $16.8 million in pretax charges for environmental spending, store closings and a corporate reorganization, of which $4 million was recorded in the fourth quarter.

"Competition intensified throughout 1991," Chairman Henry A. Rosenberg Jr. said.

"Our margins, already measured in fractions of pennies per gallon, were squeezed even tighter as companies fought to maintain or gain market share through aggressive pricing at the pumps. In December, refining margins plunged as product prices fell faster than the cost of crude."

Three months ending 12/31/91

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

'91.. .. .. .427,107,000.. .. .(10,065,000).. ..(1.01)

'90.. .. .. .608,434,000.. .. ..7,303,000.. .. .0.75

% change.. .. .. .. -29.8.. .. .. .. .. .--.. .. .. --

Twelve months ending 12/31/91

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

'91.. .. ..1,764,760,000.. .. .(6,026,000).. ..(0.61)

'90.. .. ..2,059,985,000.. .. .26,011,000.. .. 2.65

% change.. .. .. .. -14.3.. .. .. .. .. --.. .. .. --

Duty Free International

Duty Free International, a Connecticut-based retailer and wholesaler that keeps its operations hub in Glen Burnie, posted a 67 percent gain in fourth-quarter sales and a 45 percent increase in earnings as it reaped the benefits of its expansion along the Canadian border.

For the 10th straight quarter, the company exceeded analysts' expectations as it posted earnings of 18 cents a share.

DFI shares, which rose $3 Wednesday, fell $1.625 to $43.50 yesterday.

Three months ended 1/31/92

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

'92.. .. .. .. ..40,247,000.. .. .. .. .4,018,000.. ..0.18

'91.. .. .. .. ..24,105,000.. .. .. .. .2,777,000.. .. 0.13

% change.. .. .. .. ..+67.0.. .. .. .. .. . +44.7.. ..+38.5

Year ended 12/31/91

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

'92.. .. .. .. ..188,041,000.. .. .. ..23,837,000.. ..1.08

'91.. .. .. .. ..105,002,000.. .. .. ..14,593,000.. .. 0.66

% change.. .. .. .. .. .+79.0.. .. .. .. .. .+63.3.. . +63.6

Genetic Therapy Inc.

This Gaithersburg-based biotechnology company said it lost $4.8 million last year but still had more than four times that amount on hand at year's end to finance its drug-development efforts.

The company offered no specific reason for the loss, which was larger than its loss in 1990.

The company's chief executive, M. James Barrett, said the 1991 initial public offering and a research partnership forged with Swiss-based pharmaceutical giant Sandoz International Ltd. will stand as the year's landmarks.

Three months ended 12/31/91

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

'91.. .. .. .. ..215,202.. .. ..(1,372,136).. .. .. .(0.18)

'90.. .. .. .. .. 21,469.. .. ..(1,256,594).. .. .. .(0.22)

% change.. .. .. .. +902.4.. .. .. .. .. NA.. .. .. .. NA--

12 months ended 12/31/91

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

'91.. .. .. .. ..471,554.. .. .. .(4,823,605).. .. .(0.75)

'90.. .. .. .. ..176,800.. .. .. .(4,050,679).. .. .(0.71)

% change.. .. .. .. +166.7.. .. .. .. .. .. NA.. .. .. .. NA

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