Fourth Quarter

Hurt by poor weather in the last five weeks, Hechinger Co. yesterday reported that net income dropped 55 percent in the fourth quarter that ended Jan. 29, although for the full year earnings rose by more than $51 million.Besides the poor weather, the fourth-quarter net income of $1.2 million was hurt by an adjustment in inventory valuation that reduced profits by $2.6 million, the company said. The comparison with the previous fourth quarter was further worsened by a $1.6 million tax credit in the quarter that ended Jan. 30, 1993.

In opening the season with nine consecutive victories, No. 8 Loyola had accomplished many things, but had avoided trailing in the fourth quarter. That changed Saturday when No. 19 Fairfield embarked on a five-goal spurt to assume a 6-4 advantage 3:01 into the final period. But the Greyhounds answered eight seconds later with a Davis Butts-to-J.P. Dalton goal off the faceoff, and that kick-started a four-goal run to propel them to their first 10-0 season since 1999. While preferring to avoid falling behind in the final 15 minutes of regulation, coach Charley Toomey appreciated the determination that the players showed against the Stags.

NEW YORK -- Travelers Group Inc. said yesterday that fourth-quarter earnings jumped 38 percent as profits increased at its Smith Barney securities brokerage and its insurance businesses.The insurance and financial services company said profit excluding gains from investment sales rose to $608.5 million, or 92 cents a share, from $441.7 million, or 66 cents, a year earlier.Those results exceeded Wall Street's expectations of 89 cents a share, based on a survey of eight analysts by IBES International Inc.For the year, Travelers reported that it earned $3.35 a share from operations, up from $2.44 a share in 1995.

The No. 8 Loyola men's lacrosse team scored the final four goals to rally from a two-goal fourth-quarter deficit, defeating host No. 19 Fairfield, 8-6, on Saturday. The win clinched a spot for the Greyhounds (10-0, 4-0) in the Eastern College Athletic Conference championships, which will be held May2-4 in Denver. The Stags (9-2, 2-1) used a 5-0 run that spanned the last three quarters to go up 6-4. UMBC 11, Vermont 8: Nine Retrievers scored and UMBC (4-5, 2-0 America East)

Celera Genomics Group said yesterday that its fiscal fourth-quarter loss declined compared with last year's fourth quarter, when the company took a large charge related to one of its business units. The Rockville drug-discovery company, best known for sequencing the human genome, reported a loss of $28.8 million, or 42 cents a share. That compares with a loss of $101.7 million, or $1.66 a share, in the fourth quarter of fiscal 2001. The year-ago period included a pretax special charge of $69.1 million for writing off intangible assets related to its Paracel Inc. business, which produces gene-sorting hardware and software.

Shares of Rockville-based Fusion Systems Corp. staged a sharp -- but brief -- rally yesterday after the company said fourth-quarter profits will be above Wall Street predictions.Fusion Systems supplies equipment used in semiconductor manufacturing. Its shares rose $1.875 to $28.50 in early trading, but faded to close at $27, up 37.5 cents on the Nasdaq stock market.The firm said fourth-quarter sales were stronger than expected and fourth-quarter revenues were $18.4 million, putting annual 1996 sales from continuing operations at $84.6 million, up 45 percent from 1995.

USinternetworking Inc., which leases business management software over the Internet, said yesterday that it will have a fourth-quarter operating loss of $12 million and that it will lay off about 11 percent of its work force - 150 people. Chris Walker, a spokesman for the Annapolis-based company, said USinternetworking met or exceeded the projections given to analysts for the three months that ended Dec. 31. He said the company told Wall Street to expect revenue of $34 million to $35 million and an earnings-before-expenses loss of $15 million.

The Ryland Group Inc. of Columbia said yesterday that its fourth-quarter profits fell 78 percent, reflecting the weakness of the market for new homes. But the statistics that the second-biggest homebuilder in the nation released along with the earnings might contain early signs of an industry recovery.Ryland said it earned about $3.9 million, or 26 cents a share in primary earnings and 24 cents per fully diluted share, during the last three months of 1990. In 1989, it earned $1.31 a primary share and $1.20 a fully diluted share during the fourth quarter.

IBM surprised Wall Street analysts yesterday by reporting an usually strong fourth quarter.The hefty gain for the largest computer-maker was seen as evidence that the industry is set for a significant shakeout that will add pressure to weaker competitors.International Business Machines Corp. said its income on an operating basis was up 16.1 percent in the quarter, aided by strong sales of new products.Net income was more than four times greater than a year ago, but that increase was magnified by a large charge to earnings taken in the fourth quarter of 1989.

Shares of CompuDyne Corp. fell as much as 21 percent yesterday after the Hanover security-systems maker announced that its fourth-quarter earnings would be lower than expected. CompuDyne, which sells items such as attack-resistant doors and windows, had previously indicated that earnings for the fourth quarter would reach 23 cents per share. But after the market closed Monday, the company announced that it would be "only nominally profitable" in the fourth quarter. In an interview yesterday, Martin A. Roenigk, CompuDyne chairman and chief executive officer, said, "We think the fourth quarter will [show]

The Towson men's lacrosse team is beginning to make a habit out of rallying from fourth-quarter deficits. For the second straight game, the Tigers dug themselves out of a hole with four unanswered goals in the final eight minutes to outlast visiting UMBC, 12-11, before an announced 1,362 at Johnny Unitas Stadium in Towson on Wednesday night. Sophomore midfielder Thomas DeNapoli had a team-high four points on three goals and one assist, senior midfielder Carl Iacona added three goals and junior goalkeeper Andrew Wascavage turned aside a career-best 17 shots to help Towson (7-3)

Towson forged the program's largest fourth-quarter rally when it turned a 9-3 deficit into a 10-9 win in double overtime against Colonial Athletic Association rival Hofstra Saturday night. It was the Tigers' largest comeback in the second half. The previous mark was a four-goal hole in the third quarter to Loyola in 2001 before that squad notched a 19-14 victory. How that victory will impact the program is undetermined, but coach Shawn Nadelen said he was pleased to see his players' willpower.

The UMBC men's lacrosse team made sure it wasn't left with just another moral victory. After rallying from fourth-quarter deficits only to lose to Robert Morris and No. 19 Fairfield, the Retrievers finally got their upset, stunning No. 5 Maryland, 8-7, before an announced 1,410 at UMBC Stadium in Catonsville on Tuesday night. Sophomore midfielder Conor Finch recorded one goal and two assists and junior attackman Scott Jones scored both of his goals in a pivotal fourth quarter in which the Retrievers overcame a 6-3 deficit with five unanswered goals.

Columbia-based office developer Corporate Office Properties Trust, or COPT, posted an $87.2 million loss in the fourth quarter, the company reported Thursday, blaming a weak economic recovery and uncertainty over federal budget cuts. The net loss for the three months ended Dec. 31 compared with a profit of $16.7 million in the fourth quarter of 2010. "The on-going difficult operating environment, caused by the weak economic recovery and uncertainty surrounding federal budget cuts made 2011 a challenging year for COPT," Randall M. Griffin, chief executive officer, said in a statement.

First Mariner Bancorp said Monday that it lost almost $4 million during the three months ending Dec. 31, about the same as a year earlier after accounting for a one-time tax charge in the fourth quarter of 2010. It was the 19 t h straight quarter in the red for the Baltimore parent of 1 s t Mariner Bank, which is struggling to avoid a federal takeover. Not including the tax charge, the company lost $4 million a year earlier. The company lost $30.2 million during all of last year, down from $46.6 million in 2010.

While a great deal of scrutiny centered on what appeared to be Billy Cundiff's rushed field-goal attempt of 32 yards with 15 seconds left in the fourth quarter of the Ravens' eventual 23-20 loss to the New England Patriots in Sunday's AFC championship game, could the kicker have been the hero earlier? On the offense's penultimate drive, the Ravens faced fourth down-and-6 from New England's 33-yard line. But rather than ask Cundiff to kick a potential game-tying field goal, the offense chose to go for it, which ended with quarterback Joe Flacco being pressured by Patriots defensive tackle Vince Wilfork into throwing the football away.

Baltimore Bancorp, the parent company of the Bank of Baltimore, reports a fourth-quarter loss of $6.5 million, or 51 cents a share, compared with earnings of $1.9 million during the 1989 fourth quarter.But the company reports it ended the year in the black with a net income of $9 million, or 71 cents a share, a 49 percent drop from 1989 when the company earned $17.6 million, or $1.36 per share.Baltimore Bancorp, the state's fifth-largest banking operation, had total assets of $3.52 billion at the end of the year.

DETROIT -- General Motors Corp. said yesterday that it plans to cut fourth-quarter production in the United States and Canada by almost 50,000 cars and trucks, blaming the effects of material shortages and a strike as well as a slow build rate for new vehicles.GM has ratcheted down production forecasts steadily since September. Yesterday's estimate marks a cut of another 14,000 from its early October estimate of 1,420,131 vehicles.Plans now call for GM to make 1,406,138 cars and trucks at its U.S. and Canadian assembly plants in the fourth quarter.

The Ravens fell, 23-20, to the New England Patriots in Sunday's AFC championship game, but the result could have been potentially worse. After linebacker Brandon Spikes intercepted quarterback Joe Flacco's pass to tight end Ed Dickson on an inside post route in the fourth quarter, New England opened the ensuing series from midfield. But Tom Brady's attempt to quickly add to the Patriots' three-point lead was extinguished when Ravens strong safety Bernard Pollard tipped Brady's bomb to wide receiver Matthew Slater and rookie cornerback Jimmy Smith collected the tipped ball before it touched the turf in the end zone.

Evan Singletary helped the Dunbar offense awaken at just the right time Monday night. Singletary scored 10 of his game-high 21 points in the fourth quarter as No. 4 Dunbar rallied from an early 11-point deficit and pulled out a 60-56 victory over No. 13 Lake Clifton. The Poets scored just 36 points in the first three quarters but still held a one-point lead over the host Lakers heading into the fourth. That's when Singletary and Dunbar began to click, as the Poets notched 24 points in the final quarter.