Quarter

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.

T. Rowe Price Group reported Wednesday that profit rose 22 percent in the quarter from a year ago to $241.9 million, buoyed by an uptick in the market that pushed assets under management to a new record. The Baltimore-based money manager earned 91 cents a share, beating analysts' expectations of 89 cents. Still, Price's stock closed Wednesday down by more than 4 percent, at $72.75 per share, because of lower-than-anticipated cash inflows. "The flows were a little on the disappointing side," said Jeffrey Hopson, a senior analyst with Stifel, Nicolaus & Co. in St. Louis.

Legg Mason Inc. on Tuesday announced a quarterly divided of 13 cents per share, an 18 percent increase. The Baltimore-based money manager said the dividend will be paid on July 8 for those who are shareholders as of June 11. Text BUSINESS to 70701 to get Baltimore Sun Business text alerts

After T. Rowe Price executives recapped last year's highlights at Tuesday's annual meeting, a shareholder raised concerns about the loss of a top money manager, competition from exchange-traded funds and an Obama Administration tax proposal that could dampen Price's retirement business. President and CEO James A. C. Kennedy said that Kris Jenner, the former manager of T. Rowe Price Health Sciences Fund, left "millions" in deferred compensation on the table by leaving the company in February.

Venture capitalists poured $286.3 million into 30 deals in Maryland, Washington and Northern Virginia during the first quarter, compared with $219.7 million invested in 45 deals a year ago, according to the MoneyTree Report by PricewaterhouseCoopers. Much of the quarter's increase, though, was attributed to $110 million in venture funding for Washington-based LivingSocial Inc., a daily deal website. Unlike the country overall, the region that includes Maryland saw an increase in investment dollars from the fourth quarter, said Brad Phillips, director of PricewaterhouseCoopers' emerging company services.

Under Armour launched a new marketing plan earlier this year, touting its up-and-coming athletes and most innovative products in an intense but short burst they called “a brand holiday.” It appears to have paid off. The Baltimore-based athletic apparel maker delivered better than expected financial results for the three months ended March 31. Under Armour's income of 7 cents per share income topped analysts' consensus estimates of 3...

Shareholders of Arbitron Inc. overwhelmingly approved the sale of the Columbia-based company to Nielsen Holdings N.V. during a special stockholders meeting Tuesday. Nielsen, the TV ratings company, announced late last year that it would pay $1.26 billion in cash for Arbitron, which measures radio audiences. Arbitron spokesman Thom Mocarsky said the deal still needs approval from the Federal Trade Commission. Company officials, though, expect the sale to close by the end of the third quarter.

Folly Quarter Middle School in Ellicott City has been in existence only 10 years, but has already gathered a collection of awards and honors that includes a Healthy Howard Gold Award and being designated a "green" school for environmental awareness. On Monday, the Maryland State Department of Education will formally add blue to that color chart, recognizing Folly Quarter as a Maryland Blue Ribbon School. "Winning the Blue Ribbon Award made Folly Quarter Middle School feel accomplished," said Rena Patel, an eighth-grader.

The end of Washington College's drought against Salisbury started to sink in as the Shoremen took a victory lap. Past the grandstand. Past hundreds of students who reveled on a hill overlooking Roy Kirby Jr. Stadium well after the game. Wednesday's 7-6 victory didn't erase a dozen straight losses in the "War on the Shore. " But it was another sign of how far Washington College has come in the past couple of years. "To me, it's a culmination of everything - highs and lows," senior attackman Bennett Cord said.

Midfielder Cameron Flint sprinted 40 yards down the field off a faceoff and scored on a low shot 16 seconds into overtime as No. 1 Denver defeated No. 8 Loyola, 13-12, before an announced 2,478 Saturday at Ridley Field. The goal spoiled a furious comeback by Loyola (9-3, 5-1 ECAC) which trailed 8-3 at the half and had tied the game on a goal from senior midfielder Sean O'Sullivan from 15 yards out with 2:39 left in regulation. After Flint connected in the sudden-death OT, he was swarmed by teammates near the back of the goal as the Pioneers (10-2, 5-0)