Tagatose

September auto sales up 6%Sales of domestically built new cars and trucks rose 6 percent in September, but the gain might have been stronger without a car-production shortfall at General Motors Corp.For the last 10 days of the month, sales were up 4.5 percent compared with a similar period last year and sold at an annual pace of 11.3 million, automakers said yesterday.House backs tighter securities rulesThe U.S. House of Representatives voted yesterday to step up regulation of the $4.5 trillion government-securities markets and to open up the bidding process.

Biospherics Inc.For the first time in two years, Biospherics Inc. reported yesterday a slight annual profit, despite a decline in revenues.The Beltsville company, which is trying to develop a sugar substitute, said the improved results resulted from lower costs achieved by limiting the number of people hired and from the completion of several contracts.During 1991, the company won a key patent for calcium tagatate, a compound used in the manufacturing of its sweetener, D-Tagatose. In addition, the company announced an agreement earlier this week with Pfizer Inc., which has agreed to pay the cost of testing Biospherics' sugar substitute.

The head of Spherix Inc., whose eclectic businesses range from developing an artificial sweetener to processing campground reservations, has resigned over differing opinions on the direction of the Beltsville company. Spherix announced yesterday that Thomas W. Gantt resigned Tuesday as president and chief executive officer, about a year after being named to lead the company. He is the second president to resign from Spherix in 18 months. He was replaced by Richard C. Levin, a 13-year company veteran who was named acting chief executive and president.

In the Region Commerce approves expansion of city's foreign trade zone Baltimore's Foreign Trade Zone No. 74 has been approved for a major expansion by the Foreign-Trade Zones Board of the U.S. Commerce Department, the Baltimore Development Corp. announced yesterday. Foreign-trade zones are seen as catalysts for international commerce because of the breaks they can offer on tariffs or excise taxes. The local foreign trade zone - previously 286 acres - now is composed of 1,464 acres at 11 sites, said the BDC, the city economic development agency that also operates the trade zone.

BELTSVILLE -- Biospherics Inc. chairman and president Gilbert Levin estimates that the company's earnings rose "500 percent-plus" last year from the $129,630, or 3 cents a share, reported for 1991.Mr. Levin also estimated that revenue for 1992 rose about 10 percent from the $15.1 million reported for 1991.The company, which derives about 70 percent to 75 percent of its revenue from providing information services for government agencies and pharmaceuticals firms, expects to report its 1992 results later this month.

Jettisoning a money-losing operation that threatens the health of the rest of the company, Biospherics Inc. of Beltsville yesterday announced that it was shutting down its analytical chemistry laboratory and laying off 24 workers."

Maryland's publicly traded companies as a group had reason to celebrate on New Year's Eve - they ended 2004 with stock gains of 18 percent, double the Standard & Poor's 500 index. The Sun-Bloomberg index, which tracks the stocks of 90 businesses based in the state, bumped downward until August and then rose quickly. Six companies posted increases for every four that didn't. Half of the top 10 were high-tech or biotech companies. And more than half of the worst performers - like Ciena Corp.

In the Region GM to lay off 400 at Saturn plant near Newport, Del. More than 400 workers at the General Motors Saturn plant near Newport, Del., will lose their jobs, company officials said yesterday. The cuts represent 19 percent of the plant's work force. Although the jobs could be restored, a GM spokesman said the company has no plans for rehiring. After the layoffs, the plant will employ 1,700 union and exempt workers. The workers being laid off are those with the least seniority.

Spherix Inc., best known for its decades-long attempt to develop a low-calorie sugar substitute, reported yesterday that it lost $2.9 million last year and said its president and chief operating officer had resigned. David Affeldt, who had been with the company since 1998 and president and COO since January 2001, had been expected to take over as chief executive officer upon the resignation of Gilbert Levin, Spherix's 78-year-old founder. Levin said in February 2002 that he was thinking of stepping aside so he could concentrate solely on the company's biotechnology division.

T. Rowe Price AssociatesThe Baltimore-based mutual fund and investment advisory firm reported a modest gain in second-quarter operating profits yesterday, saying it benefited from growth in the amount of assets it manages for its customers and because it has expanded the scope of administrative services that it offers.T. Rowe said it earned $7.7 million, or 52 cents a share, during the three months that ended June 30. That was up from net income of $3.4 million, or 23 cents a share, in the second quarter of 1990.