Consumer confidence sags
The sputtering economy is on the verge of stalling again and consumer confidence is fading, according to reports released yesterday, suggesting problems that will last well beyond the Nov. 3 election. The Index of Leading Indicators, designed to forecast economic activity three to six months ahead, fell 0.2 percent in August, the Commerce Department said. That
followed a slim 0.1 percent rise in July and a 0.3 percent fall in June.
Separately, the private Conference Board said its consumer confidence index sank in September for the third month in a row, to 56.4, compared with 59 in August.
Waverly to buy 'Medi-Sim'
Waverly Inc., the Baltimore 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.
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.
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.