W.R. GRACE & CO.: The Boca Raton producer of chemicals and packaging said Wednesday that profit from continuing operations rose in the third quarter to $67-million, or 91 cents a share, from $54.4-million, or 60 cents, in the year-ago period. Revenue rose to $833.1-million from $821.3-million.
SPEC'S MUSIC: The Miami chain of music stores Wednesday reported a loss for the year ended July 31 of $9.1-million, or $1.74 per share, compared with a net loss of $4.5-million, or 86 cents per share, in the previous year. Revenues for the year were $68.5-million, a decline of 11.6 percent from the previous year due to operating fewer stores. On a same store basis, revenues were flat against last year.
TRANS WORLD AIRLINES: The St. Louis airline, which has been downsizing in the past year, reported Wednesday that it earned $2.4-million in the third quarter compared with an $18.2-million loss for the same period last year. It is the airline's first profitable quarter since the crash of Flight 800 off New York in July 1996. The company said its operating income in the third quarter was its best since 1989.
COMPUSA: The Dallas computer retail chain said its profits in the quarter ended Sept. 27 rose to $23.5-million, or 25 cents per share, from $14.6-million, or 15 cents per share, in the year-ago quarter. Sales grew to $1.19-billion from $990.5-million.
VIACOM: The New York entertainment company, owner of the MTV and Nickelodeon cable channels and Paramount television, said third-quarter earnings fell 83 percent, blaming continuing problems at its Blockbuster video chain. Profit from continuing operations fell to $18.4-million, or 1 cent a share, from $108.6-million, or 26 cents, a year earlier. Revenues rose 12 percent to $3.65-billion from $3.27-billion.
UGLY DUCKLING CORP.: The Phoenix used car dealer and financing company said Wednesday that third quarter earnings from operations doubled, led by a more than twofold increase in used car sales as it quadrupled the number of dealerships. Earnings from operations rose to $4.1-million, or 22 cents a share, from $2-million, or 19 cents, in the year-earlier period. Total revenue for the quarter more than doubled to $45.6-million from $18.3-million in the year-ago period.
REPTRON ELECTRONICS: The Tampa electronics distributor and manufacturer said Wednesday that net income for the third quarter totaled $1.4-million, or 23 cents per share, compared with $2-million, or 33 cents per share, earned in the third quarter of 1996. Net sales were $74.3-million, compared with $66-million for the same period last year.