October 30, 1991
The New York-based parent of AAI Corp. reported a sharp drop in third-quarter profits, primarily because of a federal income tax adjustment amounting to $2.7 million.Net income for the three months amounted to $733,000, or 6 cents a share. This is down from $2 million, or 17 cents a share, in the year-ago period. Without the adjustment for taxes, the company said that net income would have been $3.4 million, or 28 cents a share.For the first nine months of the year, net income was $5.9 million, or 49 cents a share, down from $9.6 million, or 76 cents, last year.
December 13, 1990
Trak Auto. Corp.This Landover-based company, which operates 331 discount auto-parts stores in six cities, reported a 35 percent increase in earnings in the third quarter and a nine-month earnings increase of 67 percent. Chairman Herbert H. Haft said the increases resulted from the opening of 10 new stores in the quarter and 23 stores in the nine-month period. But sales from stores open more than one year were up only 2.4 percent in the quarter and were down 3.3 percent in the first nine months of the year.
April 19, 1991
Bell Atlantic Corp.The Philadelphia-based parent of C&P Telephone reported a net profit of $353.6 million for the quarter that ended March 31, a slight decrease from a year earlier. Raymond Smith, Bell Atlantic chairman, said the recession and lower investment levels in its financial services division caused the decline in revenues. Bell Atlantic said the recession also slowed growth in cellular phone usage.Three months ended 3/31/91..... ..... .....Revenue..... ..... ..... Net..... .....
July 24, 1992
W. R. Grace & Co.This chemical and health-care company reported yesterday that income from continuing operations increased by 4.6 percent, to $64.1 million, during the second quarter.Adjusting the 1991 figures to exclude divisions that were sold in the past year, the increase was 11 percent. But a one-time after-tax charge of $163.1 million, related to the company's reporting that its oil and gas businesses would be discontinued, created a loss of $99 million.Grace, based in Boca Raton, Fla., has about 2,245 employees in Maryland who work for the Washington Research Center in Columbia; the Davison Chemical Division in Baltimore; the Grace Culinary Systems in Laurel; the Laurel-based American Cafe restaurant chain; and National Medical Care, a health-care subsidiary.
July 29, 1992
Allied Research Corp.Income for this Baltimore-based maker of conventional ammunition and weapons systems nearly doubled during the quarter that ended June 30.The improved earnings were the result of several sizable contracts the company received last year. Reinald W. Carter, chairman and chief executive, said the profits were in line with the company's projections and that he expects the strong performance to continue throughout the year."As regional tensions continue," he said in a statement, "it is our belief that the demand will also remain for conventional weapons that are designed for defensive purposes."
October 23, 1992
Mid Atlantic Medical Services Inc.This Rockville-based managed-care company, the largest in the Maryland-Virginia-Washington area, reported record earnings for the three months and nine months that ended Sept. 30. The company reported an increase of 8,000 members, to 443,000, in its health maintenance organizations for the quarter. Operating revenues for the year's first nine months were up 50 percent.George T. Jochum, MAMSI's chairman, president and chief executive, said the company's growth came despite a lack of any major improvement in the local economy.
November 3, 1992
After announcing increased earnings for the third quarter, Waverly Press Inc. said yesterday that it will raise its quarterly dividend to 11 cents, from 10 cents a share.The Baltimore-based publishing and printing company reported a 64 percent increase in earnings for the three months that ended Sept. 30, which the company attributed to a 10 percent increase in the sales of books and periodicals, particularly overseas.Boosting the volume of the sales in the higher-margin publishing end of the business enabled the company to improve its profit margin as well.
August 5, 1992
Optelecom Inc.The Gaithersburg-based maker of fiber optics and laser systems posted a jump of more than 800 percent in second-quarter earnings to make it the most profitable three months in the company's 20-year history.The company attributed the sharp rise in earnings to higher-than-expected shipments, lower production costs and the successful completion of an Air Force contract for laser illuminators."These results far exceed those of any previous quarter in the 20-year history of the company," said Chief Executive Officer William H. Culver.
August 14, 1992
Carrollton BancorpThis Baltimore bank holding company said better net interest margins, higher fee income and stronger loan demand helped it boost earnings 27 percent during the first half of the year.The parent company of Carrollton Bank reports earnings twice a year.Six Months ended 6/30/92... ... Income... ... ... ... Share'92 ... 903,000 ... .... ... 1.23'91 ... 709,000 ... .... ... 0.96% change +27.4... ... ... ... +28.1... ... Assets... ... ... ... Deposits'92 ... 200,561,000... ... . 173,875,000'91 ... 198,241,000.
March 11, 2003
WASHINGTON - Economists scaled back forecasts of economic growth for a second-straight month as expectations waned for a rebound in consumer spending and inventory building, the latest Blue Chip Economic Indicators survey found yesterday. The economy will probably expand 2.6 percent this year, down from the forecast of 2.7 percent that the survey found last month, according to the consensus of 54 economists. Gross domestic product grew 2.4 percent in 2002. The outlook "continued to deteriorate over the past month as surging energy prices, the likelihood of an imminent U.S. war with Iraq and severe winter weather caused many panel members to trim estimates of GDP in the first half of the year," this month's report said.