Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!americast.com!americast.com!americast-post Newsgroups: americast.wpost From: americast-post@AmeriCast.Com Organization: American Cybercasting Approved: americast-post@AmeriCast.com Subject: Rouse Co. Loss Increases in Third Quarter; Primark Posts a Profit; Griffith Date: Tue, 17 Nov 92 04:36:11 EST Message-ID: <17.1992Nov17.043611@AmeriCast.com> Rouse Co. Loss Increases in Third Quarter; Primark Posts a Pro- fit; Griffith Consumers' Deficit Narrows in Period= Rouse Co., a Columbia, Md.-based national real estate firm, re- ported that its net loss for the third quarter widened to $6.3 million from $4.2 million in the period last year. For the first nine months of the year, the company had a loss of $14.9 million, compared with a profit of $884,000 in the same period a year earlier. The nine-month result from 1991 benefited from a $13.46 million gain from a change in accounting for income taxes. The company reported that earnings before depreciation and de- ferred taxes in the third quarter rose 37 percent to $12.3 mil- lion from $9 million in the year-earlier quarter. For the first nine months, earnings before depreciation and deferred taxes were up 10 percent to $31.6 million from $28.7 million. "The company has produced strong results for the first nine months," Chairman Mathias J. DeVito said. "And while we do not expect that the fourth quarter will produce gains at these same high quarterly rates, we nonetheless feel confident that for the full year, earnings before depreciation and deferred taxes will be well ahead of 1991." Primark Corp., a McLean-based holding company principally engaged in information service businesses, reported net income in the third quarter of $1.7 million (9 cents a share), compared with a loss of $127,000 in the same period last year. Revenue in the quarter rose 80 percent to $74.1 million from $41.1 million a year earlier. For the first nine months, net income rose to $5.2 million (27 cents a share) from $330,000 (2 cents) in the similar period of 1991. Griffith Consumers Co., a Cheverly-based distributor of petroleum products, reported that its net loss in the quarter ended Sept. 30 narrowed to $816,000, from $1.36 million in the same period last year. Revenue in the quarter, which is the first of the company's fiscal year, rose 45 percent to $31.2 million, from $21.5 million a year earlier. Interstate General Co. of St. Charles, Md., reported that net in- come rose to $599,000 (6 cents) in the third quarter, from $120,000 (1 cent) in the same period last year. The diversified real estate organization said revenue in the quarter dropped 45 percent to $9 million from $13.1 million a year earlier. For the first nine months, the company reported a loss of $15.5 million, including a $15.8 million restructuring charge, compared with a profit of $233,000 in the same period of 1991. Columbia Real Estate Investments Inc., the Columbia, Md.-based real estate investment trust, said third quarter net earnings rose to $1.3 million (29 cents a share), from $1 million (22 cents) in the same quarter last year. For the first nine months, net earnings fell to $1.4 million (30 cents), from $3.3 million (69 cents) a year earlier. <02:13 11-17C9999----- Copyright 1992, The Washington Post. This story is from the Washington Post's Capitol Edition On-Line and is not to be ar- chived or redistributed. For more information, send-email to American Cybercasting Cor- poration (usa@AmeriCast.COM)