Profits increase 65 percent for Waverly

February 04, 1997|BY A SUN STAFF WRITER

Medical publisher Waverly Inc.'s profits rose by 65 percent last quarter to $2.8 million as it reaped gains from the restructuring of its book unit, production and marketing improvements and a German consumer health dictionary, the company reported yesterday.

Per-share earnings rose 76 percent to 30 cents for the period, the three months ending Dec. 31.

Waverly's sales for the quarter rose by far less -- only 3 percent, to $50.1 million. "All business units experienced revenue gains except for the German-based operations," where currency fluctuations hurt results, the company said in a written statement.

For all of 1996, Waverly earned $6.3 million, or 68 cents per share, compared with 1995 profits of $5.3 million, or 57 cents a share. Revenue rose to $171 million last year, up from $156.3 million in 1995, a 9 percent increase. Waverly stock gained 25 cents a share yesterday, closing at $23.75 per share.

Baltimore-based Waverly publishes scientific books, periodicals and electronic media around the world.

Pub Date: 2/04/97

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