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By Mark Ribbing and Mark Ribbing,SUN STAFF | January 28, 1999
Bell Atlantic Corp., the nation's largest local telephone company, reported yesterday that in the fourth quarter it earned $1.06 billion, or 65 cents per diluted share.This was a 12.7 percent increase from the same quarter in 1997, when New York-based Bell Atlantic had net income of $940 million, or 60 cents per diluted share.When one-time costs such as expenses from the 1997 merger with Nynex Corp. are excluded, Bell Atlantic's net income for its most recent quarter rises to $1.1 billion, 69 cents per diluted share.
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BUSINESS
By Hanah Cho, The Baltimore Sun | July 23, 2010
The parent of Baltimore County Savings Bank reported Friday a profit of $607,000, or 14 cents per diluted share, for the three months ending June 30, compared with a net loss of $418,000, or 20 cents per diluted share, in the same period last year. Total assets increased to $622.3 million, from $569.4 million a year ago. BCBS is one of several banks in the region that received federal assistance designed to spur lending. Under the Troubled Assets Relief Program, BCSB received $10.2 million.
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BUSINESS
BY A SUN STAFF WRITER | October 18, 2000
Columbia Bancorp reported yesterday that its core profit jumped 30.5 percent to $2.08 million, or 29 cents per diluted share, in the quarter that ended Sept. 30. That was up from a profit of $1.59 million, or 22 cents per diluted share, in the corresponding period a year earlier. In the nine-month period, the company's profit rose 20.5 percent to $5.5 million, or 77 cents per diluted share, before $2.31 million in merger-related charges. The nine-month results include one-time pretax charges of $2.31 million recorded in connection with the completion of the merger of Suburban Bancshares into Columbia on March 8. A second area bank, Baltimore-based First Mariner Bancorp, reported $181,000 in profit, or 6 cents per diluted share, for the quarter, compared with profit of $251,000, or 7 cents per diluted share, posted for the corresponding period a year earlier.
BUSINESS
By Hanah Cho and Hanah Cho,hanah.cho@baltsun.com | July 21, 2009
Legg Mason Inc. announced Monday a profit for the three months ending June 30, reversing five straight quarterly losses as a market rebound, lower operating costs and improved performance of its key mutual funds helped the Baltimore money manager. Net income was $50.1 million, or 35 cents per diluted share, compared to a net loss of $36.1 million, or 26 cents per diluted share, in the corresponding period last year. "While our mission is not fully accomplished, we are pleased to return Legg Mason to profitability," Chief Executive Officer and Chairman Mark R. Fetting told analysts during a conference call.
BUSINESS
By HANAH CHO and HANAH CHO,SUN REPORTER | August 2, 2006
Carrollton Bancorp reported yesterday that its second-quarter earnings were practically wiped out by a $1.2 million after-tax loss from an alleged check-kiting scheme by one of its commercial customers. The community bank said its profit for the three months that ended June 30 decreased 91 percent to $58,000, or 2 cents per diluted share, from $634,000, or 22 cents per diluted share, for the second quarter last year. Still, the bank's second-quarter net income was higher than the company's initial estimate of $18,000 when it first alleged the check-kiting operation last month.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | July 22, 2000
Despite higher expenses related to a recent acquisition, Columbia Bancorp's profit rose 23.8 percent in the second quarter, spurred by strong gains in lending, the company said yesterday. Columbia made $1.77 million in the quarter that ended June 30, or 25 cents per diluted share, after merger-related expenses, compared with $1.43 million, or 20 cents per diluted share, in the corresponding period a year earlier. Net income before merger-related fees was $1.81 million, or 25 cents per diluted share, 26.6 percent higher than the corresponding quarter last year.
BUSINESS
By BLOOMBERG NEWS | January 24, 1998
AUBURN HILLS, Mich. -- Chrysler Corp.'s fourth-quarter earnings fell 27 percent, less than expected, as the company idled factories to convert to new models and offered discounts to fend off new competition for its minivans and other vehicles.The country's third-largest automaker said profit before special items fell to $792 million, or $1.19 a diluted share, from $1.09 billion, or $1.51 a diluted share, in the year-earlier period. The earnings topped the $1.13-a-share average estimate of analysts surveyed by IBES International Inc.The decline, Chrysler's third straight quarterly drop, resulted in a 19 percent earnings decrease for the year.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | February 21, 2001
The Rouse Co.'s retail, office and community development units all helped the Columbia-based real estate investment trust finish the year on an up note. Rouse said yesterday that its funds from operations (FFO) in 2000 were $252.6 million, compared with $223.4 million in 1999. That's $3.30 a diluted share, or 17 percent above the $2.82 per diluted share the year before. The FFO in the fourth quarter, which ended Dec. 31, came in at $64.4 million, compared with $57.4 million in the fourth quarter of 1999.
BUSINESS
By Hanah Cho, The Baltimore Sun | July 23, 2010
The parent of Baltimore County Savings Bank reported Friday a profit of $607,000, or 14 cents per diluted share, for the three months ending June 30, compared with a net loss of $418,000, or 20 cents per diluted share, in the same period last year. Total assets increased to $622.3 million, from $569.4 million a year ago. BCBS is one of several banks in the region that received federal assistance designed to spur lending. Under the Troubled Assets Relief Program, BCSB received $10.2 million.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | October 22, 1998
Bell Atlantic Corp., the telephone giant that dominates local service from Maine to Virginia, said yesterday that it had a net loss of $8.1 million, or 1 cent per diluted share, during its third quarter.However, the figure includes $1.1 billion in one-time charges that the company took on employee retirement programs, Asian investments and costs relating to last year's merger with another Bell company, Nynex Corp. Bell Atlantic announced these charges on Oct. 13.Without the charges, New-York based Bell Atlantic had $1.1 billion in quarterly net income, or 69 cents per diluted share, meeting analysts' estimates.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,andrea.walker@baltsun.com | April 24, 2009
Black & Decker Corp.'s first-quarter profit plunged 93 percent as a weak economy hurt sales of its power tools and other products much worse than it had anticipated. Executives at the Towson-based company don't believe the economy will improve any time soon, saying they expect sales to decline just as much in the second quarter as the first three months of the year. The company also lowered its outlook for the year. The company on Thursday reported earnings for the quarter that ended March 29 of $4.9 million, or 8 cents per diluted share.
BUSINESS
March 5, 2009
Martek posts slight 1Q earnings gain Martek Biosciences Corp., the Columbia-based maker of nutritional oils for foods and baby formula, said its first-quarter earnings increased slightly as it moved beyond the infant formula market. The company reported net income of $9.6 million, or 29 cents per diluted share, for the quarter ended Jan. 31. That compared with $8.7 million, or 26 cents per diluted share, during the corresponding period a year ago. Revenues were $87.4 million, up 5 percent from a year ago. Martek expects second-quarter revenues to be between $87 million and $92 million and net income between $8.9 million and $10.3 million.
BUSINESS
By Hanah Cho and Hanah Cho,hanah.cho@baltsun.com | February 12, 2009
Sinclair Broadcast Group said yesterday that it has eliminated 200 jobs, or 7 percent of its work force, and suspended its quarterly dividend to cut costs as it expects falling advertising revenues this year amid a recession. Besides layoffs, the Hunt Valley broadcaster is cutting back on capital expenditures, freezing salaries, and reducing promotional spending and travel. David Amy, Sinclair's chief financial officer, declined to provide further details yesterday. Such moves are expected to save the company $19 million but are not enough to offset the decline in advertising, particularly in a nonelection year, Sinclair said.
BUSINESS
December 12, 2008
Martek income is down Columbia-based Martek Biosciences Corp. reported yesterday net income of $10.5 million, or 31 cents per diluted share, for the fourth quarter that ended Oct. 31, down from $18.3 million, or 55 cents per diluted share in the fourth quarter of 2007. The manufacturer of infant formula reported revenue of $90.4 million, up 10 percent from $82 million in the corresponding period in 2007. Excluding the impact of tax benefits, the company's net income would have been $8.9 million, or 27 cents per diluted share, compared with $7.5 million or 23 cents per diluted share in the fourth quarter of 2007.
BUSINESS
By Hanah Cho and Hanah Cho,hanah.cho@baltsun.com | October 25, 2008
Baltimore's T. Rowe Price Group saw its quarterly profit drop for the first time in five years as continued market volatility hurt the value of its assets and clients pulled back on making new investments. The money manager, which analysts said still performed better than many of its peers, reported yesterday that net income fell 12.6 percent to $152.8 million, or 56 cents per diluted share, in the three months that ended Sept. 30, compared with a profit of $174.8 million, or 63 cents per diluted share, in the year-ago period.
BUSINESS
By Hanah Cho and Hanah Cho,SUN REPORTER | May 7, 2008
Legg Mason Inc. suffered its first quarterly loss in the public company's 25-year history after spending millions to support several of its money market funds hampered by mortgage-backed debt. The Baltimore asset manager reported yesterday a bigger-than-expected loss of $255.5 million, or $1.81 per diluted share, in the fiscal fourth quarter that ended March 31, compared with a net profit of $172.5 million, or $1.19 per diluted share, in the corresponding period last year. Besides more cash infusions to shore up its troubled money market funds, yesterday's results showed investors continuing to pull money from underperforming stock funds overseen by star managers, such as Bill Miller and Bruce Sherman.
BUSINESS
By Amanda J. Crawford and Amanda J. Crawford,SUN STAFF | January 22, 2000
Columbia Bancorp, the parent company of Columbia Bank, said yesterday that its net income rose 11.9 percent to $1.35 million in the fourth quarter of 1999. The Columbia-based banking company's net income for the three months ending Dec. 31, which translates to 30 cents per diluted share, was up from net income of $1.2 million, or 26 cents per diluted share, in the fourth quarter of 1998. Adam C. Barkstrom, an equity analyst with Legg Mason Wood Walker Inc., said the company beat his projection of earnings per share by 1 cent for the quarter and the year.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN REPORTER | March 28, 2008
Penny-pinching consumers have switched from McCormick & Co.'s gourmet spices to company products that are more economically priced. They're also eating out less at the restaurants where McCormick supplies spices, flavorings and condiments. But by raising prices, McCormick managed to offset weaknesses in the economy as well as higher costs for commodities. And it allowed the local food company to report yesterday a 16 percent increase in fiscal first-quarter earnings. Net income for the three months that ended Feb. 29 was $51.4 million, or 39 cents per diluted share.
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