Rwd

RWD Technologies Inc., a Columbia company that helps big corporate clients use technology to become more efficient, yesterday announced a second quarter loss of $1.3 million because of a one-time charge to change its tax status.During the second quarter, RWD Technologies took a $4.5 million charge when it converted from S Corporation to C Corporation tax status. Before this nonrecurring charge, net income was $2.2 million, or 58.1 percent above the prior year, and 16 cents per share, a 54 percent increase over the second quarter of 1996.

Elkridge-based GP Strategies Corp. says it has agreed to acquire almost all of RWD Technologies LLC of Baltimore for approximately $28 million, combining two consulting firms that have a shared history. Both RWD and General Physics Corp. — holding company GP Strategies' sole subsidiary — consult for a wide range of industries, from energy to aerospace. And both were founded by the same entrepreneur. The companies intend to close the deal within 60 days. "It's combining two world-class training companies under one umbrella, and I think we're going to have a powerful product to deliver to the marketplace," Scott N. Greenberg, chief executive of GP Strategies, said Friday.

Powered by new clients and a sales jump in one of its divisions, RWD Technologies Inc. reported record earnings yesterday for the third quarter that ended Sept. 30, but noted some "uncertainty" for the next two quarters. The Columbia provider of technology solutions and manufacturing consulting services for Fortune 500 companies met analysts' estimates, reporting net income of $1.5 million, or 10 cents per share, on revenue of $35.7 million. That's 23 percent more than last year's third-quarter revenue of $29.1 million.

Think technology business, and you'll likely imagine a company run by a 20-something or even younger upstart. At RWD Technologies Inc., a Baltimore consulting and training company, the founder turned 84 in March. But don't ask Robert W. Deutsch about his retirement plans. He doesn't have any. Deutsch is just as active in the company today as when he founded it 20 years ago. Deutsch, who gave up his chief executive duties four years ago but remains the board chairman, oversees the private company's research and product development efforts.

Columbia-based RWD Technologies Inc. reported a 28 percent jump yesterday in first-quarter profit on 27 percent growth in sales.RWD -- a technology, training and consulting firm -- said it earned $3.8 million, or 24 cents a share, for the quarter that ended March 31, compared with net income of $2.97 million, or 19 cents a share, for the same three months a year ago.The results were a record, the company said. Earnings beat the consensus estimate of analysts by 2 cents a share, according to Zacks Investment Research.

The first day of public trading for Columbia's RWD Technologies Inc. ended in spectacular fashion yesterday as shares rose by 40 percent, the second biggest percentage gain on U.S. markets.The company, which helps big corporate clients use technology to become more efficient, offered 3 million shares at $13 each, or $39 million. The stake represented 22 percent of the company.By the close of the market, the stock was at $18.25 a share on trading of 2.58 million shares."The company's put up a very good operating track record over the last three years and there's no reason they shouldn't continue to do well," analyst Ryan Jacob of IPO Value Monitor told Bloomberg News.

RWD Technologies Inc. said yesterday that it was awarded a five-year contract by Ford Motor Co. that will bring the Columbia company $50 million to $90 million during the life of the agreement. RWD will implement "lean manufacturing" processes at four Ford plants in Illinois, Michigan and Ohio. The company helps manufacturers find ways of reducing waste and increasing efficiency. RWD is receiving a base amount for the work and will get a percentage of any money Ford saves through the processes.

RWD Technologies Inc. announced yesterday that third-quarter sales and earnings will fall well short of analysts' estimates, the second straight quarter the Columbia-based company has had to issue such a warning.RWD is projecting a break-even third quarter -- far less than the profit of 13 cents a share that analysts were forecasting. Sales will come in at $29 million, or $4 million below estimates, largely because business dropped off in two of the four key markets that RWD serves, the company said.

RWD Technologies Inc., a Columbia-based technology training and consulting company, said yesterday that it has signed a letter of intent to become the first tenant of the $50 million high-technology research park at the University of Maryland, Baltimore County.The company is expected to house its newly created RWD Applied Technology Laboratory in a two-story, 40,000-square-foot facility at the park. Construction will begin in early 2000 and should be completed in the second quarter of 2001.

Think technology business, and you'll likely imagine a company run by a 20-something or even younger upstart. At RWD Technologies Inc., a Baltimore consulting and training company, the founder turned 84 in March. But don't ask Robert W. Deutsch about his retirement plans. He doesn't have any. Deutsch is just as active in the company today as when he founded it 20 years ago. Deutsch, who gave up his chief executive duties four years ago but remains the board chairman, oversees the private company's research and product development efforts.

Advertising MGH announced the appointments of Edward Repasky as an account director, Bronson Wagner as interactive art director, Kirsten Ellison to interactive account manager and Valerie Amey as traffic coordinator for the Owings Mills-based agency. Banking-finance SunTrust Bank Maryland elected Melvin A. Steinberg, former Maryland lieutenant governor, to the bank's regional advisory board. Education College of Notre Dame of Maryland appointed Lisa V. Byrd as director of alumnae relations.

New Positions Thales Communications promotes Leighton Thales Communications Inc. promoted Ken Leighton to director of tactical communications product management for the Clarksburg-based electronic communications company. He is responsible for business development for the company's tactical radio products. Formerly with Harris RF Communications, the Damascus resident earned his undergraduate and master's degrees in engineering from the Massachusetts Institute of Technology. Byrdsong-Clark, Floyd, Maier join Benelogic Benelogic LLC hired Alisa Byrdsong-Clark and Greg Floyd as client service specialists and Jared Maier as an implementation analyst for the Timonium software applications and services provider.

RWD Technologies Inc., a Columbia technology consulting and electronic learning company, will save at least $1 million a year by going private, officials said yesterday. The responsibilities of being a public company have an onerous cost, and the decision to go private is essentially a cost-saving measure, said Beth Marie Buck, chief financial officer and vice president at RWD Technologies. "For a company our size we're currently spending around a million dollars to be public," Buck said, adding that the cost would only go up. Founded in 1988, RWD Technologies went public in 1997 and has been struggling to regain profitability during the economic downturn.

In The Region US Airways workers agree on a second round of concessions US Airways employees represented by the Communications Workers of America reached agreement yesterday with the bankrupt airline for a second round of concessions, saying they feared it would shut down if they didn't acquiesce. Last week, the pilots' union agreed to $101 million more in annual concessions. Yesterday, the CWA, which represents about 6,300 reservations agents, gate workers and other passenger service employees, agreed to an unspecified amount of cuts.

The sign on the side of the road reads "bwtech@UMBC Research & Technology Park," and just beyond that sign, the first building at the park will officially open its doors this week. The RWD Applied Technology Laboratory's grand opening is scheduled for Friday. The building - adjacent to the campus of University of Maryland, Baltimore County - houses the headquarters of Latitude360, a division of Columbia-based RWD Technologies Inc. But company officials envision a day when Latitude360 workers and university researchers work side-by-side in the three-story building.

In the Region, Earnings rise 11% in 3Q at Meridian Medical Technologies Meridian Medical Technologies Inc. yesterday reported an 11 percent increase in net income for its fiscal third quarter, which ended April 30. The Columbia maker of auto-injector drug delivery systems said revenue increased to $14.8 million from $14.1 million a year earlier, and earnings per diluted share rose a penny, to 22 cents from 21 cents in the third quarter of last year....

It's said revenge is a dish best served cold, but Robert W. Deutsch's plate is hot.Columbia-based RWD Technologies Inc., which Deutsch founded 10 years ago after he was forced out of another company he had launched, has been seeing revenue and profit soar in the past year as Fortune 500 companies such as Chrysler Corp. and Merck & Co. have signed up RWD to help train workers to install and use sophisticated computer systems and software.Yesterday, RWD reported its fourth consecutive profitable quarter since going public a year ago.The company said it booked $27.4 million in revenue for its second quarter ended June 30. That's 32 percent more than in the same quarter last year, for which the company reported revenue of $21 million.

Two Maryland technology companies -- Columbia-based RWD Technologies Inc. and Beltsville's Micros Systems Inc. -- have landed on Business Week's list of "Hot Growth Companies," the magazine's annual ranking of the nation's 100 fastest-growing public companies.RWD Technologies was ranked 39th and Micros 94th. Both were new to the list, which appears in Business Week's May 31 issue.For RWD founder and Chairman Robert W. Deutsch, his company's addition to the list affirms that the technology training and consulting company has implemented the right strategies for continued strong growth.

Community colleges have long been a resource for business training, but a new Web site to be unveiled at the Maryland Technology Showcase at the Baltimore Convention Center this week brings the colleges' offerings together to create one of the largest training resources in the state. Maryland Community Colleges' Business Training Network, online at www.marylandtraining.com, gives businesses access to every training course in all of the state's 16 community colleges. A one-word course search brings up available classes offered from Hagerstown to Ocean City, as well as online training offered by some schools.

Powered by new clients and a sales jump in one of its divisions, RWD Technologies Inc. reported record earnings yesterday for the third quarter that ended Sept. 30, but noted some "uncertainty" for the next two quarters. The Columbia provider of technology solutions and manufacturing consulting services for Fortune 500 companies met analysts' estimates, reporting net income of $1.5 million, or 10 cents per share, on revenue of $35.7 million. That's 23 percent more than last year's third-quarter revenue of $29.1 million.