MAMSI reports jump in profitsMid Atlantic Medical Services...

EARNINGS

October 22, 1993

MAMSI reports jump in profits

Mid Atlantic Medical Services Inc., a Rockville-based managed care company that operates the state's largest health maintenance organization, reported yesterday record earnings for the third quarter and a 3-for-2 stock dividend.

The company, whose HMO is named MDIPA, attributed the increase to a 25 percent jump in members. About 940,000 people were enrolled in its plans in Maryland, Virginia and Washington as of Sept. 30.

The 50 percent stock dividend would increase the number of outstanding shares to 22 million. The dividend is payable Nov. 19 to shareholders of record as of Nov. 1.

Mid Atlantic Medical Services Inc.

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

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

MAMS .. .. ... ... ... ... ... ... 28 3/4 .. .. +1 3/8

Period ended

Sept. 30 ... ... ... 3rd qtr. ... Year ago ... ... Chg.

Revenue .. .. .. ... $159,581 ... $149,859 ... ... +6.5%

Net Income .. .. ... $6,030 .. .. $3,598 .. .. ... +67.6

Primary EPS .. .. .. $0.40 .. ... $0.25 ... .. ... +60.0%

... ... ... ... ... 9 mos. ... ...Year ago .. ... Chg.

Revenue ... ... ... $480,911 .. .. $427,621 .. .. +12.5%

Net Income .. .. .. $13,722 ... .. $8,682 ... ... +58.0%

Primary EPS ... ... $0.92 .. .. .. $0.61 .. .. .. +50.8%

Figures in thousands (except per share data)

Town & Country posts gain in third quarter

The Town & Country Trust reported yesterday an increase in third-quarter income to $3.1 million compared with $1.7 million a year earlier.

The income figures exclude amortization and depreciation costs and include results of the TC Cos., the predecessor company to Town & Country Trust before its initial public offering Aug. 23.

For the nine months that ended Sept. 30, income -- excluding amortization and depreciation costs -- rose to $6.1 million from $4.8 million the prior year.

The real estate investment trust, which specializes in multifamily properties in the mid-Atlantic region, said its net loss including amortization and depreciation was $510,000 on revenue of $17.4 million for the quarter. For the nine months that ended Sept. 30, it recorded a net loss of $3.1 million on revenue of $48 million.

The trust said its board declared an initial dividend of 17 cents a share for the 39-day period that ended Sept. 30, payable on Dec. 1 to record holders on Nov. 11.

CSX Corp.

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

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

CSX ... .. ... ... ... ... ... 77 .. .. - 1/4

Period ended

Sept. 30 ... ... 3rd qtr. ... ... Year ago ... ... Chg.

Revenue .. .. .. $2,238,000 .. .. $2,214,000 .. .. +1.1%

Net Income .. .. $63,000 .. .. .. $128,000 ... ... -50.8%

Primary EPS .. .. $0.61 ... .. .. $1.25 ... .. ... -51.2%

... ... ... .. .. 9 mos. .. .. .. Year ago ... ... Chg.

Revenue ... .. .. $6,625,000 ... $6,489,000 .. ... +2.1%

Net Income ... .. $208,000 .. .. $(132,000) .. ... --

Primary EPS .. .. $2.00 .. .. .. $(1.28) ... .. .. --

Figures in thousands (except per share data)

Armco Inc.

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

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

AS ... ... ... ... ... ... ... ... ... ... 5 5/8 .. .. -Period ended

Sept. 30 ... ... ... ... 3rd qtr. ... ... ... Year ago ... ... Chg.

Revenue ... .. .. .. ... $419,800 ... ... ... $497,000 ... ... -15.5%

Net Income ... .. .. ... $(233,000)* .. .. .. $(25,200) .. ... --

Primary EPS .. .. .. ... $(2.19)* ... ... ... $(0.26) .. .. .. --

... ... ... .. .. .. ... 9 mos. ... ... .. .. Year ago ... ... Chg.

Revenue ... .. .. .. ... $1,300,500 ... .. .. $1,209,200 .. .. +7.6%

Net Income ... .. .. ... $(540,700)** ... ... $(53,200) ... .. --

Primary EPS .. .. ... .. $(5.34)** ... .. ... $(0.61) .. .. .. --

Figures in thousands (except per share data)

* Includes a charge to earnings of $205.5 million, or $1.98 a share, for the disposal of Brazilian and other operations.

** Includes a charge to earnings of $304.4 million, or $2.94 a share, for accounting rule changes.

Micros Systems Inc.

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

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

MCRS .. .. ... ... ... ... ... ... 16 7/8 -Period ended

Sept. 30 ... ... ... ... 1st qtr. ... ... ... Year ago ... Chg.

Revenue .. .. .. ... ... $16,396 .. .. .. ... $11,427 .. .. +43.5%

Net Income .. .. ... ... $2,015 ... .. .. ... $1,100 ... .. +83.2

Primary EPS ... .. .. .. $0.26 .. ... ... ... $0.14 ... ... +85.7%

Figures in thousands (except per share data.)

Atlanfed Bancorp Inc.

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

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

AFED ... .. .. ... ... ... ... ... ... ... 14 .. .. -1

Period ended

Sept. 30 ... ... ... 2nd qtr. ... ... Year ago ... Chg.

Net Income .. .. ... $414.6 ... .. .. $485.5 .. .. -14.6%

Primary EPS ... ... $0.29 ... ... ... $0.35 ... .. -17.1%

Annualized return

on assets ... ... ... 0.71% ... ... ... 0.80%

Add. to allowance

for loan losses ... .. NA ... ... .. .. NA ... ... .. --

... ... ... ... ... ... 6 mos. ... ... Year ago ... Chg.

Net Income .. .. .. ... $828.5 ... ... $993.6 .. .. -16.6%

Primary EPS ... ... ... $0.58 .. .. .. $0.71 ... .. -18.3%

Annualized

return on assets ... .. 0.71% .. .. .. 0.81%

Add. to allowance

for loan losses ... ... NA ... ... ... NA ... ... ... --

Balances as of ... ... ... 9/30/93 ... ... ... 9/30/92

Assets ... ... ... ... ... $234,116 .. ... ... $244,200 ... -4.1%

Deposits ... .. .. ... ... $186,246 .. ... ... $186,610 ... -0.2%

Figures in thousands (except per share data)

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