Bresler & Reiner Inc., a Washington-based real estate developer, reported that profit fell 29 percent in the third quarter.
Net income for the quarter ended Sept. 30 was $1.10 million (38 cents a share) compared with $1.55 million (55 cents) in the same quarter last year.
Revenue for the quarter was $10.39 million, compared with $10.55 million last year.
Chairman Charles S. Bresler said the company's home sales have remained strong this year, but he blamed the lower profit on a previously announced $800,000 provision for possible losses on Washington Bancorporation commercial paper, decreased one-time land sales at two projects and increased carrying costs on another.
Bresler & Reiner develops residential and commercial real estate in the mid-Atlantic area and in Florida.
Crop Genetics International, a Hanover, Md., biotechnology company, lost $1.13 million in its second quarter ended Sept. 30, compared with a loss of $1.31 million in the same quarter last year.
Revenue was $1.53 million, compared with $1.83 million a year earlier.
The young company, which specializes in biotechnology related to agriculture, is still spending more on research than it makes in sales. In the most recent quarter, research and development costs were $1.20 million, compared with $1.14 million in product sales.
CRI Insured Mortgage Association Inc., a real estate investment trust based in Rockville, reported net income of $4.39 million (22 cents a share) in the quarter ended Sept. 30.
There are no comparable results for the third quarter of last year because the company was not yet operating. It was formed late last year by the merger of three mortgage funds run by CRI Inc. of Rockville.
The company's revenue for the quarter was $14.07 million. Its taxable income, which the company said was a better indicator of its performance than its net income because that's the figure on which it bases dividends, was $4.65 million.
Essex Corp. of Columbia reported that it lost $37,000 in the third quarter, compared with a $2,000 profit in the same quarter last year.
Much of the loss was attributable to Essex's new subsidiary System Engineering and Development Corp., an information technology and signal processing firm it acquired in 1989. The subsidiary lost $100,000, pretax, in the quarter on a fixed-price software development contract.
Essex's revenue in the quarter ended Sept. 30 was down 22 percent to $6.3 million from $8.1 million a year ago.
Essex is a government services firm specializing in ergonomics -- the process of adapting products and workplaces to human physical needs.
Infodata Systems Inc., a Falls Church software company, reported a $158,599 profit (3 cents a share) in the quarter ended Sept. 30. That compares with a loss of $969,218 in last year's third quarter.
The company's revenue rose 6.4 percent to $9.31 million from $8.75 million a year earlier.
Infodata sells text and image management software. President Harry Kaplowitz said that the company's improved finances were due to increased licensing of its products at a time when its consulting business was eroding.