Net Income

Sourcefire Inc., a Columbia cybersecurity company best known for its Snort intrusion-prevention technology, said Thursday that its net income nearly tripled in the fourth quarter of last year to $6.7 million, compared with a year earlier. Revenue was $35.3 million, up 37 percent from a year earlier. The company earned $8.9 million in profits in all of 2009, the first year since it went public in March 2007 that it wasn't in the red. One driver was a nearly twofold increase in sales to the federal government.

Jos. A. Bank Clothiers Inc.'s top executive, R. Neal Black, earned $2.9 million last year, a decrease from the $4 million in compensation Black earned in 2011, the Hampstead-based men's apparel retailer said. Executive compensation for CEO Black, who also serves as the company's president, included a base salary of $806,492 and $1.96 million in stock awards, Bank reported in a filing Friday with the U.S. Securities and Exchange Commission. In 2011, Black's earnings also included $1.2 million in non-equity incentive plan compensation.

Stanley Black & Decker said Thursday that its fourth-quarter profit surged, fueled by acquisitions. The maker of hand tools and power tools and accessories also offered earnings guidance for this fiscal year above Wall Street forecasts. Net income rose to $137.8 million, or 81 cents per share, for the October-December period from $56.7 million, or 69 cents per share, a year ago. Stanley Works acquired Black & Decker in a $3.5 billion stock buyout approved in March 2010. The company now expects the Black & Decker acquisition will save $425 million by the end of 2012, more than the $350 million originally estimated.

Micros Systems Inc., a maker of software for the hospitality and retail industries, reported third-quarter net income of $44.3 million Thursday, a 2.4 percent increase compared with the same period in 2013 and a record for a third quarter. The Columbia-based company said it also set third-quarter records for earnings per share and sales. Diluted earnings per share rose 3.8 percent to 55 cents per share, the company said. Sales grew 13.3 percent to $315.1 million for the quarter that ended March 31. "We continue to execute in a difficult environment and I am confident in our ability to meet not just the challenges but the opportunities which lie ahead," Micros CEO Peter A. Altabef said in a statement.

Sinclair Broadcast Group Inc. said Wednesday that net income dipped 4 percent in the third quarter and that earnings missed analysts' estimates of 21 cents per share, despite the company's reported gain in revenue that included higher-than-expected sales of political advertising. The Hunt Valley-based television station owner and operator reported net income attributable to the parent company of $14.3 million, or 18 cents per share, for the three months ending Sept. 30, compared with net income of $14.9 million, or 19 cents per share, in the third quarter of 2009.

Baltimore money manager Legg Mason reported Friday its net income for the fiscal third quarter fell 54 percent as the company saw assets under management fall. Net income for the three months ending Dec. 31 was $28.1 million, or 20 cents per share, compared with $61.6 million, or 41 cents per share. Assets under management declined 7 percent to $627 billion, from $671.8 billion a year ago. Revenues were $627 million in the fiscal third quarter, down from $721.9 million a year earlier.

Jos. A. Bank Clothiers Inc. reported a nearly 17 percent drop in net income during the first quarter, prompting the Hampstead-based retailer to alter its marketing strategy, the company said Wednesday. First-quarter net income decreased to $14.8 million, or 53 cents per share, from $17.8 million, or 64 cents per share, in the first three months of last year. Sales increased 4.2 percent, to $201.4 million, from $193.3 million in the first quarter of 2011, the company said. Sales at stores open at least a year and direct marketing sales both fell 1 percent in the quarter that ended April 28. Net income represented 7.4 percent of sales, compared with 9.2 percent in the comparable period last year, R. Neal Black, president and chief executive, said in a statement.

Hit by the declining real estate market and a slowing economy, Signet Banking Corp. reported an 83.8 percent drop in third quarter net income.Signet, the Richmond-based company with major operations in Maryland, had a net income of $4.5 million, or 17 cents a share, compared with $27.8 million, or $1.04 a share, for the 1989 third quarter.During the first nine months, the company earned $34.6 million, or $1.30 a share, compared with $90.6 million, or $3.33 a share, for the same period a year ago."

Provident Bankshares Corp., the parent company of Provident Bank of Maryland, reported third quarter net income of $1 million, or 17 cents per share.That performance was a slight improvement over the third quarter of 1989 when the company earned $956,000, or 16 cents per share.For the first nine months, the bank holding company lost $4.9 million, or 82 cents per share, compared with a profit of $4 million, or 65 cents a share, for the same period a year ago.The bank attributed the third quarter results to a 26 percent increase in non-interest income.

The net income for T. Rowe Price, the Baltimore-based mutual funds company, slid 14 percent in the third quarter because of increased administrative and staff expenses.The third quarter net income was $6.7 million, or 45 cents a share, compared to $7.7 million, or 52 cents a share, for the 1989 third quarter. However, revenues for the quarter increased by 11 percent to $44.6 million compared to $40.3 million for the previous third quarter.President George J. Collins said revenues for Price were up because total average assets under management were higher and administrative service volume continued to increase.

Chemical maker W.R. Grace & Co. said Wednesday that its net income in the first quarter fell about 13 percent from the year-earlier period, in line with its warning to investors and analysts earlier in the month. The Columbia company said sales volumes didn't drop, but revenue took a hit as a result of lower pricing and an unfavorable change in the Venezuelan exchange rate. "Sales and earnings were below our expectations," CEO Fred Festa said in a statement. W.R. Grace said it produced $52.9 million in net income during the first three months of the year, compared with $60.9 million in the first quarter of last year.

Chemical maker W.R. Grace & Co. on Wednesday announced preliminary first-quarter net income of $52 million to $53 million, or 68 cents to 69 cents per diluted share. Grace, based in Columbia, will report full earnings April 24 for the quarter that ended March 31. The company had reported earnings of $60.9 million, or 80 cents per diluted share, for the first quarter of 2012. Preliminary results for the most recent quarter show operating income of $77 million for the catalysts technologies division, with sales of about $266 million, Grace said.

Under Armour CEO Kevin Plank, bolstered by fourth-quarter and year-end revenue numbers that exceeded projections, made bold promises about the future of his Baltimore-based company during its fourth-quarter earnings call Thursday. Amid a reorganization of the footwear department and questions about how the sector was performing, Plank laid out a plan to continue building profit by focusing on shoe sales and through short, intense bursts of marketing meant to better spread word about new products.

Jos. A. Bank Clothiers Inc. reported a nearly 17 percent drop in net income during the first quarter, prompting the Hampstead-based retailer to alter its marketing strategy, the company said Wednesday. First-quarter net income decreased to $14.8 million, or 53 cents per share, from $17.8 million, or 64 cents per share, in the first three months of last year. Sales increased 4.2 percent, to $201.4 million, from $193.3 million in the first quarter of 2011, the company said. Sales at stores open at least a year and direct marketing sales both fell 1 percent in the quarter that ended April 28. Net income represented 7.4 percent of sales, compared with 9.2 percent in the comparable period last year, R. Neal Black, president and chief executive, said in a statement.

Sports apparel maker Under Armour reported Friday a 21 percent increase in first quarter earnings. Net income for the three months ending March 31 was $14.6 million, or 28 cents per share, compared with $12 million, or 23 cents per share, in the corresponding period a year ago. Revenue rose 23 percent to $384 million, from $313 million a year ago. Sales were boosted by men's, women's and youth apparel and new products, the Baltimore company...

Baltimore-based FTI Consulting Inc. said it increased profits by more than 50 percent last year, driven in part by strong growth in its business consulting divisions in Latin America and Asia. The company reported net income of $103.9 million last year, up 57 percent from 2010 — even though revenue rose about 12 percent. FTI, which released the figures late Thursday and discussed them Friday, said that in addition to growth in many of its business practices, it got an income boost because it revalued downward the "contingent" payment it has to make on a recent acquisition.

NEW YORK -- Paine Webber Group Inc. reported yesterday that its net income fell 4.6 percent in the first quarter, in contrast to the large gains posted by two other big brokerage firms, Merrill Lynch & Co. and the Bear Stearns Cos.Still, the results appeared to be no surprise to Wall Street, as Paine Webber's stock rose 25 cents to close at $27.25 on the New York Stock Exchange. It traded as high as $29 early in the day.Indeed, some analysts said the earnings were relatively good, especially when considering that Paine Webber posted record pretax income of $116.

Baltimore-based Sinclair Broadcast Group said net income fell 31 percent in the fourth quarter, with earnings missing analysts' estimates by 4 cents per share. The broadcasting company on Wednesday reported net income of $22.7 million, or 28 cents per share, for the quarter that ended Dec. 31, compared to net income of $33.1 million, or 41 cents per share, in the last three months of 2010. The company declared a quarterly dividend of 12 cents per share. Analysts had expected earnings of 32 cents per share on revenue of $211.34 million.

T. Rowe Price Group saw its quarterly income fall for the first time in two years but the Baltimore money manager reported record revenue and profit for the year. The company said Friday that net income for the three months ending Dec. 31 was $188.4 million, or 73 cents per share, compared with $191.6 million, or 72 cents per share. Earnings were impacted by higher taxes and expenses in the recent fourth quarter, the company said. It was the first time Price reported a quarterly decline since the third quarter of 2009.