Fourth Quarter

MICROS Systems Inc., a Columbia-based provider of software for the hospitality industry, reported Thursday its profit in the fourth quarter rose 16 percent on higher sales revenues. The company, which makes point-of-sale software for hotels, restaurants and retailers, said its revenues climbed more than 10 percent, or $28.4 million, to $303 million in the quarter ending June 30. The higher revenues helped the company earn a profit of $48 million — an increase of $6.7 million, or 16 percent, over the similar period last year.

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.

Sinclair Broadcast Group Inc. said profits soared in the fourth quarter, capping a presidential election year in which the Hunt Valley TV station owner saw record levels of political advertising, a rebound in auto advertising sales and rapid growth through acquisitions. Net income rose to $59 million, or 73 cents per share, from $22.7 million, or 28 cents per share, in the fourth quarter that ended Dec. 31, the company reported Wednesday. Earnings beat analysts' expectations of 59 cents per share.

First Mariner Bancorp reported Thursday it earned about $1.6 million in the fourth quarter, the fourth quarter in a row that the Baltimore parent of 1 s t Mariner Bank posted a profit. First Mariner Bancorp reported Thursday that it earned about $1.6 million in the fourth quarter thanks largely to its mortgage business, making this the fourth quarter in a row that the Baltimore parent of 1st Mariner Bank posted a profit. For the corresponding quarter a year ago, First Mariner lost nearly $4 million.

Provident Bankshares Corp.'s fourth-quarter loss grew to $26.7 million, or 88 cents a share, largely because of an accounting charge and an increase in funds set aside for loan losses, the Baltimore-based company reported yesterday. In the corresponding quarter a year ago, Provident lost $15.5 million, or 49 cents a share. "As we anticipated, the deterioration in economic conditions during the fourth quarter had a significant impact on our investment and loan portfolios," Chairman and Chief Executive Officer Gary N. Geisel said in a statement.

Marriott Corp., a hotel and food-services company based in Bethesda, reported yesterday income of $27 million, or 25 cents a share, in its fourth fiscal quarter, which ended Jan. 3, compared with a loss of $54 million, or 57 cents a share, in the same period a year ago.The company's results for 1990 and 1991 were affected by unusual items, however, including the impact of recently opened hotels, accounting losses associated with the inability to sell some...

Baltimore's First Mariner Bank reported yesterday that its net income rose 30 percent in the fourth quarter, propelled by demand for mortgages and residential construction loans. First Mariner made $1.8 million in the fourth quarter of last year, or 29 cents per diluted share, compared with $1.4 million, or 23 cents per diluted share, during the comparable period of 2003. Its net income for the year rose 15 percent to $6.1 million from $5.3 million. Both quarterly and annual figures were record levels for the banking company.

The Farm Credit Bank of Baltimore, the Mid-Atlantic region's largest agricultural lender, yesterday reported a 74 percent drop in fourth-quarter profits.A sharp jump in the amount reserved for future loan losses was the major factor in the bank's net income falling to $1.4 million for the quarter ended Dec. 31, down from $5.6 million in the fourth quarter of 1992. The bank set aside $6.9 million as a safeguard against bad loans in the most recent quarter, compared with $2.2 million in the same period of 1992.

Aided by a strong fourth quarter, McCormick & Co. Inc. today confirmed that its 1990 operating profits hit a record high, as the company previously predicted.Earnings in the fourth quarter increased 32 percent and sales increased 10 percent compared with the year-ago quarter, the company said. During the quarter ending Nov. 30, 1990, the company reported earnings of $25.5 million, or 62 cents a share, on sales of $399 million compared with earnings of $20.3 million, or 47 cents a share, on sales of $361.

NEW YORK -- U.S. stocks rose yesterday for a third day amid expectations of strong fourth-quarter earnings from companies such as General Motors Corp. and Amgen Inc.Autos, drugs, beverages and airlines were the biggest gainers."It's going to be a dynamite fourth quarter," said Richard Ciardullo, head trader at Eagle Asset Institutional. "The year-end rally has started."A round of computer-guided "sell" orders valued at about $46 million pared the market's gains minutes before the close. The sell orders were most likely tied to the unwinding of so-called "flex" options on the Standard & Poor's 500 index, said Jeffrey Rubin, an analyst at Birinyi Associates Inc. in Greenwich, Conn.