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Operating Income

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BY A SUN STAFF WRITER | May 21, 1996
Chesapeake Biological Laboratories Inc. announced yesterday that it closed out its fiscal year with earnings of $309,000, a 45 percent decrease from the previous year's earnings of $566,000.The company, which has its manufacturing and research division in Baltimore and its administrative offices in Owings Mills, attributed the difference in the years' earnings to a $209,000 tax benefit the company recorded in fiscal 1995 as the realization of a deferred tax asset.John T. Janssen, the company's chief financial officer, said the company believes a more accurate picture of its performance is that operating income during fiscal 1996, which ended March 31, increased by 47 percent over the previous year's operating income.
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BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | October 23, 2013
Chemical maker W.R. Grace & Co. said Wednesday that its income in the third quarter fell 8 percent from a year earlier as it continues to deal with challenges in its catalysts business, which includes products used in oil refining. But its earnings per share — after the Columbia company adjusted out costs related to its long-running bankruptcy proceedings, asbestos claims and business lines it no longer has — came in at $1.07 for the July through September period, beating market expectations of $1. Adjusted earnings were $1.04 per share a year ago, the company said.
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BUSINESS
By Ted Shelsby and Ted Shelsby,Staff Writer Bloomberg Business News contributed to this article | April 14, 1993
Westinghouse Electric Corp. yesterday reported that first-quarter operating income fell slightly, partly because of a sharp drop in defense contracts at its Electronic Systems Group in Linthicum.Westinghouse, based in Pittsburgh, posted a profit of $64 million, or 15 cents a share, from continuing operations for the period, down from $65 million, or 19 cents a share, in the year-ago quarter. Net income was $64 million, compared with a loss of $246 million in the first quarter last year, when the rTC company took a $338 million, or 99-cents-a-share, after-tax charge from the adoption of new accounting standards.
NEWS
By Lorraine Mirabella, The Baltimore Sun | March 19, 2012
Total compensation for Under Amour CEO Kevin A. Plank fell 14 percent last year after the company failed to significantly improve its operating efficiency, the company said in a Securities and Exchange Commission filing. Plank's compensation, including base salary and company performance incentives, totaled $1.13 million in 2011, down from $1.32 million in 2010, a proxy statement filed Friday showed. Plank, Under Armour's chairman, president and largest stockholder, made Forbes magazine's list of the world's billionaires earlier this month with a net worth of $1.1 billion.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | October 24, 1996
Hurricane Fran and a freak windstorm in Arizona battered USF&G Corp.'s third-quarter results, causing operating income to fall 35 percent, the company said yesterday.Operating income slipped to $31 million, or 22 cents a share, in the quarter ended Sept. 30, compared with $47 million, or 33 cents a share, in the same period a year ago. Net income fell 29 percent to $35 million, compared with the same time a year ago."Without the impact of excess catastrophe losses, our results would have been on target," said USF&G's chairman and chief executive, Norman P. Blake Jr. "Our fundamentals are strong.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | July 23, 1998
Fueled by strong demand for business and consumer loans, First Maryland Bancorp's operating income rose 15 percent in the second quarter before a $6.3 million gain on the sale of securities, the company said yesterday.Baltimore-based First Maryland, which is owned by Allied Irish Banks PLC of Dublin, Ireland, made $41.2 million in the quarter that ended June 30, up from with $35.8 million for the comparable period a year earlier.Scott Rankin, a bank analyst at Davy Stockbrokers in Dublin, said First Maryland's performance was in line with expectations.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | April 25, 1996
USF&G Corp. said yesterday that its consolidated operating income rose 12 percent during the first quarter and that it will begin buying back up to 5 million shares of its common stock to enhance shareholder value.Consolidated operating income, which is net income prior to realized gains from investments and from subleasing office space at its downtown headquarters building, was $44 million, or 32 cents per share, compared with $39 million, or 28 cents a share, in the same quarter last year.
BUSINESS
By Bill Atkinson and Bill Atkinson,Sun Staff Writer Sun staff writer Ross Hetrick contributed to this article | July 26, 1995
USF&G Corp.'s operating income jumped 15.4 percent in the second quarter to $45 million, the company said yesterday, as premiums increased and business lines showed continued improvement.For the first six months of the year, operating income grew to $84 million, up a whopping 47 percent compared with the period a year ago."It was a good first quarter and . . . a good first half," said Dan Hale, chief financial officer of the $14.2 billion-asset Baltimore-based insurance company.USF&G's stock closed at $15.375 a share, up 12.5 cents, yesterday.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | January 30, 1997
USF&G Corp.'s operating income jumped 20 percent in the fourth quarter, but it was flat for the full year, hampered by losses from a freak windstorm in Arizona and Hurricane Fran, the company said yesterday.The Baltimore-based property, casualty and life insurer with $14.5 billion in assets, said operating income was $60 million, or 48 cents per primary share, in the quarter ended Dec. 31, 1996, compared with $50 million, or 39 cents, during the corresponding period a year earlier."I thought the quarter earnings were very solid, in line with our expectations, despite the reduction in premium volume," said Steven A. Gavios, an equity analyst with New York-based Bear, Stearns & Co.USF&G's stock closed at $20.625 a share yesterday, down 12.5 cents.
BUSINESS
By Jamie Smith Hopkins and Jamie Smith Hopkins,SUN STAFF | February 20, 2004
Higher education is paying off for Sylvan Learning Systems Inc. - the Baltimore company's revenue jumped 43 percent in the fourth quarter, while operating income more than tripled. The strong earnings report, released yesterday, capped a year in which Sylvan cast off its best-known property to focus on international and online postsecondary education. Its K-12 operations, including the tutoring centers that have become a household name, were sold in June to New York-based Apollo Management LP as Sylvan looked to simplify itself and recover from an unsuccessful venture fund.
BUSINESS
By ALLISON CONNOLLY and ALLISON CONNOLLY,SUN REPORTER | August 2, 2006
Hunt Valley-based United Industrial Corp.'s bread and butter is in unmanned aerial vehicles that patrol the skies over Iraq for the U.S. Army. But it was the company's struggling energy unit - a business it's been trying to sell for years - that delivered a big gain in the second quarter, renewing hopes that it might finally find a buyer. Thanks to spiking energy prices, second-quarter net sales at Detroit Stoker Co., which makes alternative fuel products such as coal and wood-burning stokers, jumped 42.1 percent to $11.8 million.
BUSINESS
By M. WILLIAM SALGANIK and M. WILLIAM SALGANIK,SUN REPORTER | May 2, 2006
Filing its first financial report as a public company, Visicu Inc. reported yesterday that its revenue nearly doubled in the three months that ended March 31, giving the company a positive bottom line. The Baltimore company, which develops remote monitoring systems for hospital intensive care units, posted earnings of $314,000, or a penny per diluted share, for the quarter. That compared with a loss of $1 million in the year-ago quarter, which would have been equivalent to about 40 cents a share.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | August 27, 2004
NIJMEGEN, Netherlands - Just as its U.S. wholesale food division showed signs of recovering from an accounting scandal, Royal Ahold NV reported yesterday that its slumping U.S. supermarkets unit contributed to a lower-than-expected profit of 32 million euros, or $38.7 million. The Dutch company also announced the resignation of Karel Vuursteen, who was chairman of its supervisory board for less than a year. Ahold said Vuursteen, 63, is stepping down for health reasons. Ahold said its second-quarter net sales fell 5 percent, to 12.3 billion euros, year to year.
BUSINESS
By BLOOMBERG NEWS | August 11, 2004
BURBANK, Calif. - Walt Disney Co., the second-biggest U.S. media company, said yesterday that its fiscal third-quarter net income climbed 20 percent, boosted by higher revenue from its theme parks and cable-television networks. Profit rose to $604 million, or 29 cents a share, from $502 million, or 24 cents, a year earlier, the company said. Sales in the quarter that ended June 30 increased 17 percent to $7.47 billion. Disney Chief Executive Officer Michael D. Eisner is benefiting from a rise in attendance at Disney's parks after the introduction of new attractions such as Mission: Space at Walt Disney World in Florida.
BUSINESS
By Becky Yerak and Becky Yerak,CHICAGO TRIBUNE | July 23, 2004
CHICAGO - Weakened by poor clothing sales, Sears, Roebuck and Co.'s second-quarter profit fell 83 percent, to $53 million, about a third less than what Wall Street expected. The nation's biggest department store chain warned yesterday of a bleaker outlook for the rest of the year and announced the elimination of 3,300 jobs, or 1.6 percent of its work force. For the three months that ended July 3, Sears reported net income of $53 million, or 24 cents a share, down from $309 million, or $1.04 a share, for the second quarter last year.
BUSINESS
April 23, 2004
In the Region Marriott profit fell in first quarter, still tops forecasts Marriott International said yesterday that its first-quarter earnings dipped slightly, but the hotel operator exceeded Wall Street's predictions and raised its outlook for this year on an expected boost in travel. The Bethesda-based company reported first-quarter income of $114 million, or 47 cents per share, compared with $116 million, or 48 cents per share, for the first quarter of last year. Marriott's earnings from continuing operations, which excludes a one-time, 12-cents-a-share gain last year, were 47 cents per share, up from 36 cents a share last year.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | October 19, 2001
Municipal Mortgage & Equity LLC of Baltimore reported a 55 percent increase in its third-quarter operating income yesterday, and also announced another increase in its quarterly dividend. Municipal Mortgage, better-known as MuniMae, said that operating income allocated to common shares was $11.18 million in the quarter that ended Sept. 30, a 55 percent increase from the $7.23 million recorded during the corresponding three months of 2000. Operating net income per common share was 52 cents, a 27 percent rise from the 41 cents per share reported in last year's third quarter.
BUSINESS
By Alec Matthew Klein and Alec Matthew Klein,SUN STAFF | May 23, 1996
In a long-awaited break-through, Jos. A. Bank Clothiers Inc. reported yesterday its first quarterly profit in more than a year, pumping up its stock and the prospects that a turnaround has finally arrived.Emerging from a brutal industry shakeout, the Hampstead-based manufacturer and operator of 81 retail stores generated $1.1 million in operating income for the first quarter ended May 4, compared with an operating loss of $6.2 million over the same period last year.Even after taxes and interest payments on debt, the company broke into the black with $200,000 in net income, or 3 cents a share, compared with a net loss of $4.2 million, or 62 cents a share, for the first quarter last year.
BUSINESS
By Jamie Smith Hopkins and Jamie Smith Hopkins,SUN STAFF | February 20, 2004
Higher education is paying off for Sylvan Learning Systems Inc. - the Baltimore company's revenue jumped 43 percent in the fourth quarter, while operating income more than tripled. The strong earnings report, released yesterday, capped a year in which Sylvan cast off its best-known property to focus on international and online postsecondary education. Its K-12 operations, including the tutoring centers that have become a household name, were sold in June to New York-based Apollo Management LP as Sylvan looked to simplify itself and recover from an unsuccessful venture fund.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,SUN STAFF | June 6, 2002
Shares of Manugistics Group Inc. lost one-fourth of their value yesterday after the company said it would see an adjusted operating loss rather than operating income for its first fiscal quarter and that revenue would be less than expected. The Rockville software company's shares traded as low as $5.60 before closing at $5.90, down $2.04 or 25.69 percent on the day. The stock dropped after Manugistics released revised financial forecasts for its first fiscal quarter. The numbers were released after the stock market closed Tuesday.
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