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Subject: Federal Realty Earnings Jump To $3.58 Million in Quarter; Verdix Reports 63
Date: Fri, 13 Nov 92 04:39:11 EST
Message-ID: <49.1992Nov13.043912@AmeriCast.com>

Federal Realty Earnings Jump To $3.58 Million in Quarter; Verdix
Reports 63 Pct. Quarterly Profit Gain<

 Federal Realty Investment Trust, a Bethesda company that owns
older shopping centers throughout the mid-Atlantic region, re-
ported that its third-quarter profit jumped to $3.58 million (15
cents per share) from $632,000 (4 cents, on fewer shares) in the
same period last year.  Funds from operations - net income plus
depreciation, the figure on which the company bases its dividends
- rose less sharply, up 22 percent, to $7.38 million from $6.03
million.

 The company said occupancy at its shopping centers rose to 96
percent from 93 percent a year earlier, and that rental income
from the centers rose too.

 Revenue in the third quarter was up 3 percent, to $24.49 million
from $23.88 million a year earlier.

 For the first nine months, the company earned $7.75 million (34
cents), more than double the $3.23 million (19 cents) earned in
the same period last year.  Funds from operations rose 15 per-
cent, to $22.23 million from $19.25 million.  Revenue in the
first nine months rose 2 percent, to $73.72 million from $71.93
million in the same period a year earlier.

Verdix Corp., a Herndon software developer that works mostly for
the military and its contractors, reported that its profit in the
quarter ended Sept. 30 rose 63 percent, to $583,924 (4 cents a
share) from $358,372 (3 cents) in the same period last year.

 In September, Verdix acquired Meridian Software Systems Inc. of
California and has restated its results to reflect what they
would have been if it had owned Meridian last year. Verdix's
results also include the costs of the merger - $213,000 in the
quarter and $344,000 over six months.

 Revenue in the quarter, the second of Verdix's fiscal year, was
$6.47 million, up 32 percent from $4.92 million in the same
period last year.

 For the first six months, profit was $1 million, up 58 percent
from $631,129 in the same period a year earlier.

 Revenue was $12 million, up 28 percent from $9.37 million.

02:36 11-13C9999-----

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