Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!americast.com!americast.com!americast-post Newsgroups: americast.twt.misc From: americast-post@AmeriCast.Com Organization: American Cybercasting Approved: americast-post@AmeriCast.com Subject: Headline Article Date: Fri, 13 Nov 92 15:11:15 EST Message-ID: \SE C;MONEY;METRO FIRMS \BY Beverley Collins \CR THE WASHINGTON TIMES S=NEW STORY BioWhittaker warns earnings will slip BioWhittaker Inc. of Walkersville, Md., said it expects to post fourth-quarter earnings of about 9 cents a share compared with pro forma earnings of 12 cents a share for the 1991 quarter. BioWhittaker management "is confident that it is correcting" unspecified problems in its diagnostic business, which it has already restructured. The company expects its 1992 full-year earnings to be about 42 cents a share compared with 1991 pro forma earnings of 38 cents a share. BioWhittaker, a developer of clinical diagnostic testing systems and cell culture products, was a wholly owned subsidiary of Whittaker Corp. but was spun off to Whittaker stockholders in November 1991. S=NEW STORY Federal Realty revenues rise Federal Realty Investment Trust of Bethesda said net income for its third quarter ended Sept. 30 jumped to $3.58 million (15 cents a share) from $632,000 (4 cents) for the same quarter a year ago. Revenues rose 2 percent to $24.4 million from $23.8 million for the year-ago quarter. Cash flow, or funds from operations, rose 23 percent to $7.4 million compared with $6 million in the third quarter of 1991. Cash flow is a standard measure of REIT performance. On a per share basis, however, cash flow decreased from 35 cents per share to 30 cents per share because more shares are outstanding, said Steven J. Guttman, president and chief executive officer. S=NEW STORY USAir amends credit pact with banks Arlington-based USAir Group Inc. said its banks agreed to make it easier for the airline to draw on a $600 million line of credit by relaxing financial tests the company has to pass before borrowing money. USAir, which has $450 million available under the credit line, can meet the requirements now, said airline spokeswoman Susan Young. But USAir wanted to renegotiate the terms in case it has trouble meeting the requirements next year, she said. USAir is seeking U.S. government approval for British Airways PLC to invest $750 million in the company. The credit line was worth $1.5 billion when it was issued in 1989, but is reduced by $300 million each year under the original agreement with the banks. S=NEW STORY PHP to build clinic for Bethlehem Steel PHP Healthcare Corp. of Alexandria agreed to build and operate a health center for Bethlehem Steel Corp. for an undisclosed sum. S=NEW STORY DynCorp unit wins Army contract Reston defense contractor DynCorp said its Aerotherm unit won a 5-year, $65 million Army contract to provide operation and maintenance services for a laser test facility at White Sands Missile Range in New Mexico. S=NEW STORY Restructuring Marriott stays on CreditWatch Standard & Poor's Corp. said it is keeping $2.7 billion of Marriott Corp. debt on CreditWatch, where it was placed Oct. 5 when the Bethesda hospitality giant announced a controversial restructuring plan. Marriott plans to spin off its hotel and food service management business to shareholders in the form of a new company to be named Marriott International Inc. S=NEW STORY Bio Science finds buyer for plant Bio Science Contract Production Corp. said Cephalon Inc. of West Chester, Pa., agreed to buy the Beltsville company's 20,000-square-foot plant for about $14 million. Bio Science was formed in January 1991 to build and operate a plant for contract manufacturing of biotechnology products. The company said it plans to open new plants by late 1993. S=NEW STORY FastComm completes private offering FastComm Communications Corp. of Sterling said it completed a private offering of 1.375 million shares of common stock. The offering, originally expected to generate $2 million, was oversubscribed and resulted in about $2.2 million of new capital for the company. Proceeds will be used for working capital. This article is copyright 1992 The Washington Times. Redistribution to other sites is not permitted except by arrangement with American Cybercasting Corporation. For more information, send-email to usa@AmeriCast.COM