Net Income

Marriott International Inc.'s net income rose almost 18 percent in its fourth quarter, an increase the Bethesda hotel giant attributed to the strength of its brands and the record opening of new hotels carrying the Marriott name. The company's net income rose to $114 million, or 44 cents a share, in the three-month period that ended Jan. 1. The earnings were just slightly over a consensus of analyst estimates compiled by First Call Corp. Revenue in the quarter amounted to $2.5 billion, a 10 percent gain from the comparable period in 1997.

JP Foodservice Inc.'s net income more than tripled to $6.9 million in its first fiscal quarter on record sales and operating earnings, the company said yesterday.The Columbia-based food distributor said net income jumped 19 percent to 31 cents per share before nonrecurring charges in the quarter ended Sept. 27, compared with 26 cents for the same period a year earlier.Income from operations rose nearly 28 percent to $16 million, up from $12.5 million. And net sales rose 13 percent to $468 million in the quarter, compared with $414.

Boosted by the acquisition of a Wendy's chain in Nashville, Tenn., and the building of more than a dozen new stores, net income for DavCo Restaurants Inc. climbed by 48.7 percent during its first quarter.However, the Crofton-based Wendy's franchisee saw sales at restaurants open for a year or more decline by 1.3 percent, as competitors offered special price promotions."Our competitors are pricing quite low right now," said Danielle M. Paul, DavCo's spokeswoman. "We're trying to take a stand on not taking that approach at this time."

McCormick & Co. Inc., the Sparks-based spice and flavorings company, yesterday reported a 9.1 percent increase in second-quarter earnings -- in line with what stock analysts had expected from the world's largest spice company."

Strong sales of radar and marine systems at the Linthicum electronics unit helped Northrop Grumman Corp. post 23-percent increases in both net income and overall sales for the first quarter of this year, the company said yesterday.Northrop Grumman reported net income of $75 million on sales of $1.96 billion, up from net income of $61 million on sales of $1.6 billion for the corresponding period in 1996.Last year, the first quarter included just a month of results from the newly acquired former Westinghouse plant in Linthicum.

Mercantile Bankshares Corp.'s net income rose nearly 16 percent in the third quarter, led by large gains from its trust business and increases in lending, the company said yesterday.Mercantile, which is based in Baltimore and is Maryland's largest independently owned banking company, reported net income of $34.8 million for the third quarter ended Sept. 30, up 15.9 percent, compared with $30 million for the same period a year earlier.Net income per share rose 11.6 percent to 48 cents, compared with 43 cents in the 1996 period, beating analysts' estimates by a penny.

Mercantile Bankshares Corp. reported yesterday that it earned $40.8 million in the third quarter, and its net income per share jumped 13.5 percent, beating analysts' estimates.Profit was up 9.5 percent in the third quarter that ended Sept. 30. Net income per diluted share was 59 cents, compared with 52 cents for the corresponding period last year.Analysts expected Maryland's largest independently owned banking company to make 56 cents a share, according to Zacks Research Inc."They are generating really excellent numbers in light of the fact that they have such a big equity base," said David West, a banking analyst at Richmond, Va.-based Davenport & Co. "They were a little better than what I was looking for."

Despite intense competition, USF&G Corp. saw its earnings from operations grow 20 percent in the second quarter, and its net income jumped 46 percent, the insurer said yesterday.The company earned $54 million from operations in the second quarter ended June 30, or 41 cents a share, compared with operating earnings of $45 million, or 34 cents a share, for the same period last year."Our business trends are very encouraging," said Norman P. Blake Jr., chairman and chief executive of the $14.6 billion-assets company, which is based in Baltimore.

W. R. Grace & Co., which filed for bankruptcy protection April 2, reported that its net income fell 40 percent in the first quarter as higher costs eroded profit. The Columbia-based chemical maker earned $14.6 million, or 22 cents a share, in the three months that ended March 31, down from $24.2 million, or 35 cents a share, in the first quarter of last year. Analysts, on average, had expected earnings of 28 cents a share. Sales in the period were $395.7 million compared with $384.7 million in the corresponding period a year ago. The company said the most recent quarter's numbers were off because of higher prices for raw materials and natural gas. Grace filed for Chapter 11 protection to shield itself from billions of dollars in asbestos-related lawsuits.

Steady demand for loans and banking services and tight expense controls pushed Mercantile Bankshares Corp.'s net income up 15.4 percent in the first quarter of 1997, the company said yesterday.Mercantile reported $32 million net income in the first quarter that ended March 31, or 67 cents a share, compared with $27.7 million, or 58 cents for the same quarter a year earlier."They are clicking on all cylinders," said John M. Kline, a banking analyst with Ryan, Beck & Co. in West Orange, N.J.The earnings surprised Kline and other Wall Street analysts, who expected the company to earn 65 cents a share.