BG&E profit rose 11% in 1st quarterUnseasonably cold March...

EARNINGS

April 17, 1993

BG&E profit rose 11% in 1st quarter

Unseasonably cold March weather helped boost the first-quarter net income for Baltimore Gas and Electric Co. by 11 percent.

Profits were also helped by last year's cost-cutting measures, which sliced $9 million to $10 million off expenses, and refinancing bonds, which reduced interest costs.

Because of the cold weather, electric sales were up 4.2 percent and gas sales jumped 3.8 percent. But revenues for the company's nonutility subsidiaries dropped 12.7 percent.

Baltimore Gas.. .. .. .. .. Ticker .. .. .. Yesterday's

and Electric Co.. .. .. .. Symbol .. .. .. Cls. .. .. Chg.

.. .. .. .. .. .. .. .. .. BGE .. .. .. .. 26 1/4 .. .. .. +

Period ended

March 31 .. .. .. .. .. First qtr. .. .. .. Year ago .. Chg.

Revenue .. .. .. .. .. ..$683,825 .. .. .. $669,253 .. +2.1%

Net Income .. .. .. .. ..$65,796 .. .. .. ..$59,253 .. +11.0%

Primary EPS.. .. .. .. .. 0.38 .. .. .. .. .. $0.37 .. +2.7%

Figures in thousands (except per share data.)

Atlanfed Bancorp Inc.

I=

. .. .. .. .. .. .. .. ..Ticker .. .. .. .. Yesterday's

.. .. .. .. .. .. .. .. .. .. Symbol .. .. .. Cls. .. .. Chg.

.. .. .. .. .. .. .. .. .. .. AFED .. .. .. ..16.. .. .. + 7/8

Period ended

March 31 .. .. .. 4th qtr. .. .. .. Year ago* .. .. .. .. Chg.

Net Income .. .. ..$380.2 .. .. .. ..$392.0 .. .. .. .. -3.0%

Primary EPS.. .. ..$0.34 .. .. .. .. $0.35 .. .. .. .. -2.9%

Annualized return

on assets .. .. .. 0.63% .. .. .. .. 0.65%

Add. to allowance

for loan losses .. $69.0 .. .. .. .. $169.0 .. .. .. .. -59.2%

.. .. .. .. .. .. 12 mos. .. .. .. ..Year ago* .. .. .. .. Chg.

Net Income .. .. $1,877.5 .. .. .. .. $1,627.4 .. .. .. .. +15.4%

Primary EPS .. .. ..$1.68 .. .. .. .. ..$1.50.. .. .. .. ..+12.0%

Annualized

return on assets .. 0.78% .. .. .. .. .. 0.62%

Add. to allowance

for loan losses .. $304 .. .. .. .. .. .. $403 .. .. .. .. -24.6%

.. .. .. .. .. .. .. .. Balances as of

.. .. .. .. .. 3/31/93 .. .. .. .. .. .. 3/31/92

Assets .. .. ..$239,543 .. .. .. .. .. .. $263,470 .. .. -9.1%

Deposits .. .. $186,776 .. .. .. .. .. .. $200,040 .. .. -6.6%

Loans outst. ..$200,556 .. .. .. .. .. .. $226,269 .. .. -11.4%

Loan loss

reserve .. .. .. $924 .. .. .. .. .. .. .. .. $734 .. .. +24.9%

* Figures adjusted to account for fiscal year 1993 15 percent stock dividend.

Figures in thousands (except per share data.)

5/8

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.