Microsoft earnings jump 29%Software giant Microsoft Corp...


January 19, 1995

Microsoft earnings jump 29%

Software giant Microsoft Corp. said yesterday that its earnings jumped 29 percent in the latest quarter, boosted by strong demand for its personal computer operating systems and applications.

The Redmond, Wash.-based company said profits rose to $373 million, or 60 cents a share, in its second quarter ended Dec. 31, from $289 million, or 48 cents a share, a year earlier.

Church Home to join Helix

Church Home and Hospital in Baltimore has agreed to join the Helix Health System, the largest community-based health care delivery system in the state. Helix, formed in 1987, also includes Franklin Square Hospital Center, Good Samaritan Hospital and Union Memorial Hospital.

The deal is expected to be announced today.

Plaid Clothing issues stock

Plaid Clothing Group said it completed a $7 million private placement of preferred stock to reduce bank debt. The clothing maker, owner of J. Schoeneman Inc. in Owings Mills, also said it amended its $75 million revolving credit agreement with Transamerica Business Credit Corp. The amendment adjusts financial covenants in the agreement, grants additional security to the lending group and makes structural changes to the agreement.

The company amended the agreement because of a $15.2 million charge to write off costs related to its failed acquisition of Gruppo Finanziario Tessile SpA, Italy's third-largest clothing maker.

Orange Co. loss put at $1.69 billion

Officials of Orange County, Calif., announced yesterday the sale of all risky securities in the county's ill-fated investment pool, leaving it with a loss of $1.69 billion rather than the $2.02 billion predicted earlier.

This means that, on average, the local governments and others that invested in the fund are now expected to lose 22.3 percent of their money, not 27.2 percent, as initially expected.

Criimi Mae issue nets $4.2 million

Criimi Mae Inc. announced yesterday that it sold 625,000 shares of common stock on Jan. 13, generating net proceeds of $4.2 million, which it will use to acquire high-yielding debt securities.

The Rockville-based real estate investment trust filed a shelf registration statement relating to the offering in July. With the sale, Criimi Mae's outstanding shares increased to 26.3 million.

Chrysler to give workers $8,000

Chrysler Corp. will distribute profit-sharing checks next month averaging an industry-record $8,000 a worker, based on its record 1994 earnings of $3.71 billion.

About 91,550 workers will receive the payouts Feb. 10, Chrysler said yesterday.

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