In the Region FTI, Jos. A. Bank make Forbes list of...

BUSINESS DIGEST

October 16, 2001

In the Region

FTI, Jos. A. Bank make Forbes list of best small companies

Forbes magazine included two Maryland companies on its annual list of the 200 Best Small Companies in America.

FTI Consulting Inc. of Annapolis, a provider of litigation support services, and Jos. A. Bank Clothiers Inc. of Hampstead, a men's apparel retailer, were ranked Nos. 126 and 186 respectively.

The award is based on return on equity, earnings per share growth and sales growth - each measured during the past five years and the most recent four quarters.

Sandy Spring Bancorp profit climbs 44 percent

Sandy Spring Bancorp reported yesterday that its profit jumped 44 percent in the third quarter, paced by growth in revenue from lending and fees that it charges customers on services.

The Olney-based banking company made $5.95 million, or 61 cents per diluted share, in the quarter that ended Sept. 30, compared with $4.1 million, or 43 cents per diluted share, a year earlier.

Sandy Spring earned $17.1 million, or $1.77 per diluted share, in the first nine months of the year, up 28 percent from a year earlier. The bank has $2 billion in assets and 30 branches in Anne Arundel, Howard, Montgomery and Prince George's counties,

Elsewhere

Boeing halts work on longest-range jetliner, 777-200LR

Boeing Co. has halted work on the 777-200LR, designed to be the longest-range jetliner ever made, as it searches for an airline willing to be the launch customer.

The 301-passenger 777-200LR, with maximum range of 10,195 miles, could fly 18-hour nonstop routes such as New York to Kuala Lumpur, Malaysia, and Atlanta to Hong Kong. The plane is a new version of the 777, Boeing's twin-engine jumbo jet.

Boeing has one customer for the airplane - EVA Air of Taiwan has ordered three - but the company said EVA will not take delivery until May 2006. Boeing had hoped to introduce the plane in January 2004.

United Airlines to trim nearly 200 more flights

United Airlines said yesterday that it will eliminate nearly 200 more flights from its daily schedule at the end of the month as it continues to cut back since the Sept. 11 terrorist attacks.

The new schedule calls for 1,664 flights a day instead of the current 1,850 - a 30 percent drop from its pre-attack 2,400 daily flights- and curtails early-morning and late-night flying.

Continental says revenue decline is less in October

Continental Airlines Inc.'s unit revenue for the first two weeks of this month slid 28 percent over the year-ago period after the Sept. 11 hijackings reduced travel demand.

Continental, the No. 4 U.S. airline, said yesterday that revenue for every jetliner seat flown a mile declined about 28 percent, which was less than the 38 percent decline for the second half of last month.

The carrier said its planes were 66 percent full for the first half of October, 13.2 percentage points higher than for the previous two weeks.

Ex-Apple CEO named Viaquo board chairman

Apple Computer Inc.'s former chief executive officer, Gil Amelio, has been named chairman of the board at data-security startup Viaquo Corp.

Amelio, 58, directed a $5 million investment to Viaquo in June as senior partner at venture capital firm Sienna Ventures. Viaquo said its products ensure that data or music sent over the Internet is available only to those with permission to receive it. As yet, Viaquo has no products on the market.

Concorde flights to N.Y. will resume Nov. 7

Fifteen months after the Concorde was grounded because of a deadly crash, Air France and British Airways are resuming flights to New York City.

The sleek, needle-nosed aircraft - revamped to address safety concerns after the crash July 25, 2000 that killed 113 people - will return to the skies Nov. 7, the airlines said yesterday.

Prudential gets N.J.'s OK to offer IPO at year's end

Prudential Financial Inc., the No. 2 U.S. life insurer, says it's preparing for its initial public offering by the end of the year, after getting clearance yesterday from New Jersey regulators.

The state Department of Banking and Insurance approved Prudential's demutualization plan.

The IPO will depend on market conditions, Prudential said.

This column was compiled from reports by Sun staff writers, the Associated Press, Bloomberg News and Reuters.

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