Third Quarter

Avemco Corp., a Frederick-based aviation and marine insurance holding company, said yesterday that its third-quarter earnings plunged by 96.8 percent as the result of more claims in its growing aviation business, a few large claims and its reduced participation in short-term health programs.The company's third-quarter net income dropped to $74,000, or a penny a share, compared with $2.3 million, or 26 cents a share, for the same period a year ago. Revenues for the quarter grew by 6.3 percent, to $29.1 million from $27.4 million.

Despite hanging tough with the No.1-seeded team for three quarters, Bryant lost to Syracuse, 12-7, in the opening round of the NCAA tournament Sunday. Syracuse (14-3) was led by Dylan Donahue's hat trick, while goalie Dominic Lamolinara (St. Mary's) made eight saves. Kevin Rice added two goals and two assists for the Orange. Colin Dunster and Peter McMahon each had three goals for Bryant. It was a well-rounded day for Syracuse's offense as seven players recorded at least one point.

Bell Atlantic Corp. and AT&T Corp. painted sharply different financial pictures as they reported their third-quarter earnings yesterday, but investors in the two companies that are soon to square off as competitors in Maryland and elsewhere treated them about the same.Bell Atlantic, the traditional local phone service monopoly in Maryland and five other states, said its third-quarter profit rose 9 percent to $483.3 million, or $1.10 a share, as it continued to get a boost from its fast-growing cellular business and the number of customers adding second phone lines to serve their computer modems.

Micros Systems Inc., a maker of software for the hospitality and retail industries, reported third-quarter net income of $44.3 million Thursday, a 2.4 percent increase compared with the same period in 2013 and a record for a third quarter. The Columbia-based company said it also set third-quarter records for earnings per share and sales. Diluted earnings per share rose 3.8 percent to 55 cents per share, the company said. Sales grew 13.3 percent to $315.1 million for the quarter that ended March 31. "We continue to execute in a difficult environment and I am confident in our ability to meet not just the challenges but the opportunities which lie ahead," Micros CEO Peter A. Altabef said in a statement.

HOUSTON -- The value of initial public stock offerings by non-financial companies dropped 58 percent, or more than $3.5 billion, in the third quarter to the lowest level since the first quarter of 1991, according to a survey released yesterday.Seventy-six non-financial IPOs raised $2.47 billion during the third quarter, down from $5.97 billion in the second quarter, according to the study by Sommers & Associates.Financial offerings more than doubled, to $5.77 billion, in the third quarter, from $2.33 billion in the second quarter, with more than 80 percent going into investment funds.

USF&G Corp., the Baltimore-based insurance company, lost $25 million in the third quarter, about two-thirds more than the 1990 third-quarter loss of $15 million.On a per share basis, the loss was double -- 44 cents compared to 22 cents.Revenues for the third quarter were $980 million, down 14 percent from revenues of $1.12 billion in the previous third quarter.The company said the third-quarter results were primarily due to a 15 per cent decline in premiums resulting from the company's pullout from states where it says its business is unprofitable.

Struggling with a worse-than-expected industrywide revenue slump, US Airways Group Inc. reported a $335 million third-quarter net loss yesterday and restated its need to cut costs deeper than once anticipated. The loss of $4.92 per share follows an Aug. 11 bankruptcy filing and months of restructuring that has resulted in thousands of layoffs and flight reductions. Sales in the quarter fell 12 percent to $1.75 billion. Though the loss was an improvement over last year's third-quarter deficit of $766 million, or $11.42 per share, the slow industry recovery prompted the Arlington, Va.-based airline to recently announce hundreds of additional layoffs.

Corporate Office Properties Trust, the Columbia-based commercial real estate development and investment firm, lost $20.8 million during the third quarter of the year, though the cash it earned from operations was well above the amount it made during the same three-month period last year, the company announced Thursday. On a per share basis, COPT lost 39 cents. But COPT's funds from operations, often used by real estate investment firms to show their health, was $48.9 million during the quarter -- an increase of 15.5 percent over the amount earned during the third quarter of 2011, according to a statement from the company.

Booming Under Armour Inc. announced Thursday that it earned $57 million in the third quarter, a 25 percent jump over the year-earlier period that was driven by strong demand for men's, women's and youth apparel and growing acceptance of the brand's footwear. Revenue surged nearly as much — 24 percent — at the Baltimore-based sports apparel maker, to $575 million in the three months ended Sept. 30. In last year's third quarter, Under Armour made $46 million on revenue of $466 million.

Baltimore money manager Legg Mason reported Friday its net income for the fiscal third quarter fell 54 percent as the company saw assets under management fall. Net income for the three months ending Dec. 31 was $28.1 million, or 20 cents per share, compared with $61.6 million, or 41 cents per share. Assets under management declined 7 percent to $627 billion, from $671.8 billion a year ago. Revenues were $627 million in the fiscal third quarter, down from $721.9 million a year earlier.

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.

The No. 1 Boys' Latin lacrosse team has a skillful attack that puts overwhelming pressure on opponents. So getting the attack the ball is an obvious priority for the nation's No. 1 team. And that's where junior midfielder Hunter Moreland came into play in Tuesday's Maryland Interscholastic Athletic Association A Conference opener against No. 5 McDonogh. Moreland won 14 of the Lakers' 16 draws, which helped turn a sluggish first half into a sound 15-10 win over the visiting Eagles.

No. 4 Maryland scored the final three goals of the third quarter to seize control of the game and put away a stubborn Navy team, 11-8, Friday night at Navy-Marine Corps Memorial Stadium. Navy (3-8) had a 6-5 lead early in the third, but Maryland (8-1) scored three goals in the final 13:24 of the quarter, two of them on extra-man situations. Until then, Navy seemed capable of pulling an upset and giving second-year coach Rick Sowell the kind of win that could turn around his struggling program before a crowd of nearly 7,000.

Getting into a five-goal hole, failing to capitalize on extra-man opportunities, and committing too many penalties are just some of issues that flared up in No. 6 Salisbury's 10-8 loss to No. 3 Stevenson Wednesday night. Those troubles were noted by coach Jim Berkman, but he also tried to glean positives from the setback. “We've got to stay out of the penalty box, that's for sure,” he said Thursday morning, referring to the 13 penalties the team accumulated. “But I was proud of how our kids came back.

The Hereford boys lacrosse team opened eyes with an upset win over then-No. 2 Gilman last week. Loyola certainly took note. The No. 7 Dons had their crack against Hereford on Tuesday and made the most of the opportunity, getting contributions across the board to come away with an 8-4 road win over the No. 5 Bulls. Senior attackman Devin McNamara led the offense with one goals and three assists, while sophomore goalie Acie Newton made timely saves - nine in all - as the Dons improved their record to 5-2. The Bulls (4-2)

Maryland's burst to the top of the rankings has been aided by a 12-10 redemption against reigning national champion Loyola and a 16-7 thumping of Atlantic Coast Conference rival Duke en route to a 4-0 record. The Terps have also benefitted from quick starts. This season, the team has outscored opponents, 22-4, in the first quarter and after halftime, the squad has sprinted to a 16-9 advantage in the third quarter. Maryland's ability to put their opponents in an early hole in each half mirrors the wishes of coach John Tillman.

Spice maker McCormick & Co. Inc. said Thursday that its profit grew more than 13 percent in the third quarter, thanks to new products, acquisitions and strength in emerging markets. The Sparks-based maker of spices and flavorings raised its full-year earnings expectations to a range of $3.03 to $3.08 per share to reflect a more favorable tax rate. For the three months ended Aug. 31, McCormick reported net income of $104.4 million, or 78 cents a share, compared with net income of $92 million, or 69 cents a share, in the comparable period a year earlier.

Buoyed by rising assets under management and market gains, T. Rowe Price Group reported Wednesday that it earned $247.3 million, or 94 cents per share, for the third quarter. Revenue reached $769.7 million for the three months ending Sept. 30. A year earlier, the Baltimore-based investment company earned $185.5 million, or 71 cents per share, on revenue of $679.4 million. The third-quarter results included a one-time gain of $31.2 million, accounting for 7 cents per share, from the sale of securities from a number of funds, said James A. C. Kennedy, president and CEO. That gain was re-invested in some of Price's European portfolios to beef up their assets and attract institutional shareholders, he said.

In a game marred by 63 penalty minutes -- 42 of which were against the home team -- the Baltimore Bombers suffered their first-ever loss Sunday afternoon, 20-9 to the Boston Rockhoppers at Du Burns Arena. The Rockhoppers (3-1) scored nine straight goals to break open a tied game at the half and take sole possession of first place in the North American Lacrosse League, dropping the Bombers to 2-1. Bombers coach Hunter Francis was displeased with his team's effort. “Before the game I felt we were focused and calm.

Pro lacrosse Rabil scores first as a Wing in 16-8 loss to Roughnecks Paul Rabil (Johns Hopkins) scored his first goal as a member of the Philadelphia Wings, then added two more, but the hosts lost to the Calgary Roughnecks, 16-8, before an announced 15,103 on Sunday at Wells Fargo Center. The Wings (2-2) were held scoreless in the first quarter and trailed 8-2 at the half. Rabil, a transition player, added a pair of assists. Drew Westervelt (UMBC) scored a goal for the Wings, and fellow forward Kevin Buchanan (Calvert Hall)