Profit

THE ROLAND PARK Second Presbyterian Church looked absolutely stunning last Saturday for the wedding of Natalia Pia Melanie Sommer and Richard Matthew Dohler. Thousands of wildflowers, miles of lace ribbons and tulle, and window sills decorated with Singapore orchids set the stage for the nuptials of the daughter of pop music star Donna Summer and her first husband, Helmut Sommer,and the son of Dick and Bonna Dohler, he's an Ellicott City builder.The church was filled with the music of German trumpeteer Langston Fitzgerald and selections of Bach, Beethoven and Vivaldi, played by the church's music director Margaret Budd on the organ.

Sinclair Broadcast Group Inc., a Hunt Valley-based operator of television stations across the United States, said Wednesday that its profit nearly doubled in the first quarter, fueled by higher sales of political and other ads and the acquisition of several new stations. The company, which operates 74 stations in 45 markets, reported a profit of $29.4 million, or 36 cents a share, in the quarter ended March 31, compared with $15.3 million, or 19 cents a share, in the similar period last year.

If all goes as planned, sometime this morning a spacecraft will blast off from its launchpad in Cape Canaveral, Fla., and ride a fiery plume of contrails upward through the pre-dawn darkness to begin a two-week journey to the International Space Station and back. But the flight won't be just another NASA resupply mission. Instead, the Falcon 9 rocket and its unmanned Dragon cargo capsule built by Space Exploration Technologies Corporation - SpaceX for short - will be the first commercially owned and operated vehicle ever to rendezvous with the station's orbiting astronauts.

Columbia-based MICROS Systems Inc., a provider of technology solutions for the hospitality industry, announced on Thursday that it had a $43.2 million profit in the third quarter and planned to buy a company in England. MICROS' net income rose $4.7 million in the quarter ended March 31 over the third quarter last year. On a per-share basis, the company earned 53 cents, a 6-cent increase from the year before. Revenue for the quarter reached $278 million, up nearly 10 percent from a year ago. The company also announced that it had signed an agreement to buy Torex Retail Holdings Ltd., in Dunstable, England, from two private equity firms.

Columbia-based MICROS Systems Inc., a provider of technology solutions for the hospitality industry, announced on Thursday that it had a $43.2 million profit in the third quarter and planned to buy a company in England. MICROS' net income rose $4.7 million in the quarter ended March 31 over the third quarter last year. On a per-share basis, the company earned 53 cents, a 6-cent increase from the year before. Revenue for the quarter reached $278 million, up nearly 10 percent from a year ago. The company also announced that it had signed an agreement to buy Torex Retail Holdings Ltd., in Dunstable, England, from two private equity firms.

Medifast Inc., an Owings Mills-based company specializing in weight loss programs, reported sharply higher revenue and profit in the first quarter. The company had profit of $4.9 million, or 33 cents per share, compard to $2.5 million, or 17 cents per share, in the year-ago quarter. Net revenue rose nearly 75 percent, from $35 million in the first quarter last year to $61 million this quarter. The company said it has 45 corporate and franchised weight-control centers, and plans to open another 13 to 15 new centers this year.

Hunt Valley-based Sinclair Broadcast Group Inc. reported a first-quarter profit Wednesday, a turnaround from a first-quarter loss in 2009, as sales of television advertising improved. Sinclair, owner or programmer of 58 TV stations including Fox 45 in Baltimore, said it earned net income of $11.5 million, or 14 cents per share, in the three months that ended March 31. The broadcaster had posted a loss of $85.7 million, or $1.06 per share, in the first three months of 2009, largely due to an after-tax, $100.

It's disappointing to hear so much rhetoric coming from members of the development community and some local politicians over new storm water rules in Maryland ("A threat to Smart Growth" Feb. 2). The plain truth is that developers appreciate a clean and healthy Chesapeake Bay when they can build waterfront homes or other development projects with real estate values boosted by water views. But when saving the bay requires them (and everyone else, by the way) to do more to protect it, they threaten to retreat to the sprawling suburbs again.

Legg Mason Inc.'s quarterly profit fell 4 percent as operating costs grew and investors continued to withdraw money from the Baltimore asset manager's funds. Meanwhile, Legg Chief Executive Officer Mark R. Fetting said Monday that efforts to "streamline" its business by cutting 350 back-office jobs — 250 of them in Owings Mills and Baltimore — began July 1 and are on target to save $130 million to $150 million on an annual basis by March 2012. The work force reduction to boost profit margins was announced in May, but employees won't start losing jobs until the end of the year, Fetting said.

Maryland could be the first state in the nation to allow a new class of "for-benefit" corporations if a measure before the House of Delegates receives final approval. The designation, which has already been approved in the Senate, would allow the director of a company to weigh community, environmental and societal factors when making determining the "best interest" of the company. "It is evolving as a national movement," said Del. Brian J. Feldman, a Montgomery County Democrat, during a Saturday debate on the measure.

As far as downloadable content goes, "Fifa 12's" add-on “UEFA Euro 2012” leaves plenty to be desired. Released yesterday, the expansion to the hit game suffers from a lack of officially licensed teams, lackluster presentation and no support for online play. At $22.50 worth of Microsoft Points, frankly it's a rip-off.  Still, it represents a model that has better potential for customer satisfaction than the current method EA and 2K use to release their sports games. Logically, in the year 2012, the annually released sports franchise should not exist.

First Mariner Bancorp reported Wednesday its first quarterly profit in five years, a sign of progress for the Baltimore institution struggling to raise capital and avoid a federal takeover. The company earned $1.8 million for the first three months of 2012, boosted by a recovering economy and steadier housing market. In contrast, First Mariner had a loss of $7.3 million for the same period last year. On a per-share basis, the company earned 10 cents, compared with a loss of 40 cents.

T. Rowe Price investors plowed a record $12.4 billion into mutual funds and other investments as the Baltimore money manager reported a small increase in quarterly profit, the company reported Tuesday. The firm's net income increased slightly for the first three months of 2012. It earned $197.5 million, or 75 cents per share, compared with $194.6 million, or 72 cents per share, in the year-earlier period. Price's earnings fell short of analysts' expectations of 77 cents per share, according to Bloomberg.

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...

When Heather Ziehl lost her job in sales and marketing operations two years ago due to the failing economy, she became a “true housewife.” And what started as an inside joke about the “Housewives of Bel Air” amongst friends, quickly developed into a full-fledged nonprofit organization helping people build professional and personal connections. “Our mission is basically to bring people together and create awareness about nonprofits and charities. We want to give back to the community,” says Ziehl, 34, of Bel Air. “I'm a very positive person, and I start each day with a positive quote.

Apple has gone on a very public tax strike. Months after reporting the second-highest quarterly profits in U.S. history, America's favorite company is refusing to bring home more than $60 billion of offshore funds in protest of the taxes it would have to pay. Apple paints its predicament as unfair. Yet Apple's funds did not build up offshore because its iPhones, iPads and Macs are so much more popular overseas than they are at home. Though more than two-thirds of its retail stores are in the United States and Apple sells more products in the U.S. than in any other nation, it reports to shareholders that it made 24 cents in pre-tax profit for every dollar of sales in the United States, compared to 36 cents profit on every dollar of sales abroad.

Baltimore money manager Legg Mason Inc. said Thursday that it posted a profit in its fiscal third quarter, but that clients continued to withdraw money from its stock and bond funds even as the rest of the industry saw increased investments. The company said net income was $44.9 million, or 28 cents per share for the quarter ended Dec. 31. That was compared to a loss of $1.49 million, or $10.59 per share, for the same period a year ago. Assets under management decreased 2 percent to $686.

Spice maker McCormick & Co. reported Tuesday a 3 percent decline in its first-quarter profit, hurt by higher material costs. Net income for the three months ending Feb. 29 was $74.5 million, or 55 cents per share, compared with $76.8 million, or 57 cents per share, in the corresponding period last year. Sales rose 16 percent to $906.7 million, up from $782.8 million, with increases in the company's consumer and industrial businesses. The Sparks company said recent acquisitions in emerging markets completed last year drove a third of its sales.

A Towson attorney has filed suit to prevent Sheppard Pratt Health System from opening a residential group home in his Ruxton neighborhood, and is demanding that the state rescind a license recently issued for the facility. Thomas C. Costello claims the home is a "for-profit, commercial enterprise," a use forbidden by state law in an established neighborhood and one that violates Baltimore County's zoning code. He has asked the court to void a state license granted in January for the home at 1506 LaBelle Ave., which would house up to six people transitioning from hospital treatment programs for depression and anxiety.