Kaplan Buys Software Company EMind
Kaplan, a division of The Washington Post Co., purchased eMind, which provides online education and compliance software for the securities and insurance industries, for an undisclosed price. The Post Co. said eMind helps companies teach employees about the reporting requirements of securities and insurance regulators. Beverly Hills, Calif.-based eMind has 135 employees and lists J.P. Morgan Chase, St. Paul Travelers, UBS and RBC Dain Rauscher as customers, according to eMind's Web site.
Ciena's Second-Quarter Loss Narrows
Ciena narrowed its fiscal second-quarter loss to $74.8 million from $76.2 million a year earlier as revenue climbed for a fifth consecutive quarter and margins improved at the Linthicum-based network systems company. Revenue for the three months ended April 30 grew 39 percent, to $103.8 million. Ciena shares closed down 4 cents, at $2.41.
Sales Rise at Jos. A. Bank Clothiers
Men's apparel retailer Jos. A. Bank Clothiers said sales at stores open at least one year increased 5.6 percent in May. Total sales for the Hampstead, Md., company, which operates 280 stores in 38 states and the District, jumped 20.2 percent, to $31.5 million. Combined catalogue and Internet sales increased 18.7 percent. Sales for the four months ended May 28 climbed 20.7 percent, to $128.1 million.
The company said that suits, shirts and ties continued to perform well and that spring sportswear and trousers were especially strong.
Marriott Forecasts Higher Profit
Marriott International forecast that profit will rise as high as $4.50 a share in 2008 because of increases in room rates and occupancies. The Bethesda-based hotel company said it will meet the forecast if revenue per available room, a measure of average occupancy and room rate, rises 8 percent each year from 2006 to 2008.
Marriott raised rates this year, as business travel improved and leisure travelers continued to book vacations.