Waverly to buy 'Medi-Sim'Waverly Inc., the Baltimore-based...

BUSINESS DIGEST

September 30, 1992

Waverly to buy 'Medi-Sim'

Waverly Inc., the Baltimore-based publisher and printer, has signed a letter of intent to buy the publishing rights to 175 computer-assisted instruction programs for nurses and the trade name "Medi-Sim" from Medi-Sim Inc., an educational software developer in Edwardsville, Kan. The terms of the agreement, which is scheduled to be completed in November, were not disclosed. The new programs will be added to the company's expanding Electronic Media Division, which publishes computer programs.

PharmaKinetics reports gain

PharmaKinetics Laboratories Inc. of Baltimore reported earnings of $374,498, or 3 cents a share, for the fourth quarter ended June 30, compared with a loss of $8,350,286, or 83 cents a share, for the same period the year before. Revenues decreased by 32 percent to $2.1 million compared with $3 million for the year-ago quarter, primarily from the sale of subsidiaries.

While the company increased its profit on operations to $94,405 from a loss of $1.2 million in the fourth quarter last year, the company's earnings were largely a result of the sale of its German subsidiary, IBR, which provided $3.35 million in cash.

EA Engineering lands AF pact

EA Engineering, Science and Technology Inc. of Hunt Valley said yesterday that it received a contract to perform up to $24.9 million worth of environmental services for the Air Force. The contract is for one year with two renewal options.

EA Engineering, which has a work force of about 640, does environmental studies, investigates possible pollution and advises companies on environmental regulation. It also designs and does cleanups of contaminated areas.

Kirschner debt rescheduled

Kirschner Medical Corp., which owed Maryland National Bank $10 million today, said it reached an agreement with the bank that gives it until June 30, 1994, to complete the repayment of its total $22 million debt. Kirschner said it will make regularly scheduled payments in the next year and nine months to cut down on the debt, although Lewis Parker, chief financial officer, declined to discuss further details of the agreement.

Business failures up in Britain

Business failures in Britain jumped 40 percent to more than 46,000 in the first nine months this year, almost as many as in the whole of 1991, Dun & Bradstreet reported. Small companies are being hit hardest by the slump, which is also saddling the country with big layoffs.

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